Industrial Flex Warehouse
For Sale
Contact for pricing
22 W Haley Springs Rd Units C & D, Bozeman, MT 59718
Two flexible industrial warehouse units with overhead drive-in doors, mezzanine storage, and office space for light business use.
Property Size1,765 SF
Price / SF$299.72
Days on Market52
Property Features for 22 W Haley Springs Rd Units C & D
General Information
Standard status
Active
Size
1,765 SF
Property subtype
Industrial
Investment Type
Owner/User
Additional Details
Drive-In Doors
1
Building Details
Units
2
Listing Agency:
Starner Commercial Real Estate
(406) 570-4931
Listed By:
Sunny Odegard · License #MT RRERBS46004
Source:
Crexi
Added: Jul 1
Changed: Aug 8
Last Checked: Aug 20 at 4:19AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Starner Commercial Real Estate
Investment Insights
Based on property information with market context.
Units C and D offer a versatile industrial/flex layout designed to support light industrial activity, storage, creative shop operations, or small business use. Each unit includes a large overhead drive-in door, generous ceiling height, one full bathroom, and functional office space. Mezzanine storage is also included for added organization and practical separation of warehouse and workspace needs.
The property is located in Bozeman’s Woodlands Park area at 22 W Haley Springs Rd. The site provides easy access to downtown Bozeman and Four Corners, helping connect daily operations with the surrounding commercial market.
These units are well-suited for an owner-user that needs both warehouse utility and office support in the same footprint, while still maintaining straightforward storage and work-flow capabilities. For investors or tenants looking for flexible industrial space, the combination of drive-in access, ceiling height, and mezzanine storage supports a range of light industrial and small-bay use cases without requiring a specialized buildout.
The property is located in Bozeman’s Woodlands Park area at 22 W Haley Springs Rd. The site provides easy access to downtown Bozeman and Four Corners, helping connect daily operations with the surrounding commercial market.
These units are well-suited for an owner-user that needs both warehouse utility and office support in the same footprint, while still maintaining straightforward storage and work-flow capabilities. For investors or tenants looking for flexible industrial space, the combination of drive-in access, ceiling height, and mezzanine storage supports a range of light industrial and small-bay use cases without requiring a specialized buildout.
Key Highlights
- Two industrial/warehouse units totaling 1,785 ± SF, offering a versatile layout for light industrial, storage, or small business use
- Each unit includes a large overhead drive‑in door for convenient loading and access
- Units feature generous ceiling height to support a variety of light industrial and storage needs
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$22,256
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
4.21%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$445,120
$445.1K
Cap Rate 7%
$317,943
$317.9K
Cap Rate 9%
$247,289
$247.3K
Market Conditions
NOI Build-Up for 1,765 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$26.5K $15.00/SF
− Vacancy
−$291 −$0.17/SF
EGI
$26.2K $14.83/SF
− OpEx
−$3.9K −$2.23/SF
NOI
$22.3K $12.61/SF
Area
Gallatin County, MT
Vacancy
1.10%
Lease Rate
$15.00 /SF/Yr
Expense Ratio
15.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$445,120
Cap Rate 7%
$317,943
Cap Rate 9%
$247,289
Alternative Uses
Best Use
Warehouse
$317.9K
$278.2K – $370.9K
NOI $22,256 @ 7.0% cap · market cap 4.21%
Second Best
Flex RnD
$306.8K
$268.4K – $357.9K
NOI $21,473 @ 7.0% cap · market cap 4.06%
Theoretical Best
Office A
$460.9K
$403.3K – $537.7K
NOI $32,261 @ 7.0% cap · market cap 6.10%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Drive-in doors
Location Intelligence
Trade Area within ½ mile
145
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 59718, MT
43,831
Population
19,765
Households
2.2
Avg Household Size
33
Median Age
57%
College-Educated
97%
High-School Grad
164.5 sq mi
ZIP Area
266
Density / Sq Mi
$91,852
Median Household Income
$44,915
Median Earnings
$1,748
Median Rent
$579,800
Median Home Value
Market
Vacancy Rate% for Industrial in West region
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Frequently Asked Questions
What type of property is this?
Flex space - Two flexible industrial warehouse units with overhead drive-in doors, mezzanine storage, and office space for light business use.
Where is this flex space located?
The property is located at 22 W Haley Springs Rd Units C & D Bozeman, MT.
What is the asking price?
The asking price for this property is $529,000.
What are key features of this property?
This property features: Two industrial/warehouse units totaling 1,785 ± SF, offering a versatile layout for light industrial, storage, or small business use; Each unit includes a large overhead drive‑in door for convenient loading and access; Units feature generous ceiling height to support a variety of light industrial and storage needs
