Flex Space with Office and
New
For Sale
$575,000
24 Ohio, Butte, MT 59701
Commercial building combines dedicated office areas with hands-on work space and outdoor area.
Property Size2,760 SF
Lot Size0.62 Acres
Price / SF$208.33
Days on Market2
Property Features for 24 Ohio
General Information
Standard status
Active
Size
2,760 SF
Lot size
0.62 Acres
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$3,500
Amenities
Garage: Garage,Gravel,Paved
Garage,Gravel,Paved
Building Details
Year Built
2006
Buildings
1
Building Size
2,760 SF
Listing Agency:
Platinum Real Estate
(406) 498-6578
Listed By:
Markee Richards · License #RBS-70752
Source:
Clearwaterproperties
Added: Aug 11
Changed: Aug 12
Last Checked: Aug 12 at 5:20AM
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 Platinum Real Estate
Investment Insights
Based on property information with market context.
This flex property includes a 2,760± sq. ft. commercial building constructed in 2006, with areas designated for office functions and shop-related work or storage. The property also provides outdoor space supporting parking, equipment, company vehicles, materials, or additional work areas.
The 26,920± sq. ft. lot extends the property's functional capacity beyond the building. Exterior features include a garage along with gravel and paved surfaces. Located at 24 Ohio in Butte, Montana, the property offers a combination of enclosed work space and usable outdoor area for a business requiring both office and operational space.
The 26,920± sq. ft. lot extends the property's functional capacity beyond the building. Exterior features include a garage along with gravel and paved surfaces. Located at 24 Ohio in Butte, Montana, the property offers a combination of enclosed work space and usable outdoor area for a business requiring both office and operational space.
Key Highlights
- 2,760± sq. ft. flex building constructed in 2006
- 26,920± sq. ft. lot with outdoor work and storage area
- Combination of office space and shop‑related work areas
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
$35,634
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
6.20%
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%
$712,680
$712.7K
Cap Rate 7%
$509,057
$509.1K
Cap Rate 9%
$395,933
$395.9K
Market Conditions
NOI Build-Up for 2,760 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
$55.3K $20.04/SF
− Vacancy
−$7.8K −$2.83/SF
EGI
$47.5K $17.21/SF
− OpEx
−$11.9K −$4.30/SF
NOI
$35.6K $12.91/SF
Area
Silver Bow County, MT
Vacancy
14.10%
Lease Rate
$20.04 /SF/Yr
Expense Ratio
25.00%
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%
$712,680
Cap Rate 7%
$509,057
Cap Rate 9%
$395,933
Alternative Uses
Best Use
Office B
$509.1K
$445.4K – $593.9K
NOI $35,634 @ 7.0% cap · market cap 6.20%
Second Best
Warehouse
$290.5K
$254.2K – $338.9K
NOI $20,334 @ 7.0% cap · market cap 3.54%
Theoretical Best
Office A
$601.5K
$526.3K – $701.8K
NOI $42,106 @ 7.0% cap · market cap 7.32%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
933
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 59701, MT
33,937
Population
16,834
Households
2
Avg Household Size
42
Median Age
27%
College-Educated
94%
High-School Grad
509.7 sq mi
ZIP Area
67
Density / Sq Mi
$56,799
Median Household Income
$34,793
Median Earnings
$811
Median Rent
$219,200
Median Home Value
Market
Vacancy Rate% for Office in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Saffron — 217 W Park St, Butte, MT 59701
- Metals Sports Bar and Grill — 8 W Park St, Butte, MT 59701
Frequently Asked Questions
What type of property is this?
Flex space - Commercial building combines dedicated office areas with hands-on work space and outdoor area.
Where is this flex space located?
The property is located at 24 Ohio Butte, MT.
What is the asking price?
The asking price for this property is $575,000.
What are key features of this property?
This property features: 2,760± sq. ft. flex building constructed in 2006; 26,920± sq. ft. lot with outdoor work and storage area; Combination of office space and shop‑related work areas
