Flex Space with Outdoor Work
For Sale
$575,000
24 S Ohio, Butte, MT 59701
CommercialSale, Butte, MT
Property Size2,760 SF
Lot Size0.62 Acres
Price / SF$208.33
Days on Market16
Property Features for 24 S Ohio
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
R2
Parking features
Garage
Directions
GPS will take you there. Corner of Ohio and Galena
Subdivision
10BNE - Butte - N of Front, E of Montana
Standard status
Active
APN
0001906920
Size
2,760 SF
Lot size
0.62 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
LIZZIE LODE, S18, T03 N, R07 W, LOT 81 - 84
Tax Annual Amount
3500
Legal Description
LIZZIE LODE, S18, T03 N, R07 W, LOT 81 - 84
Utilities
Sewer type
Public Sewer
Water source
Public
Building Details
Year built
2006
Listing Agency:
Platinum Real Estate
(406) 565-7128
Listed By:
Markee Richards · License #RBS-70752
(406) 498-6578
Added: Aug 9
Changed: Aug 19
Last Checked: Aug 24 at 7:06PM
MLS# 413945
Copyright © 2026 Big Sky Country MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This flex property at 24 S Ohio includes approximately 2,760 square feet of building area configured for office functions, shop work, and storage. Built in 2006, the improvements are supported by garage parking and public water and sewer service.
The property occupies approximately 26,920 square feet of land, providing substantial outdoor area alongside the building. The site can accommodate parking, equipment, company vehicles, materials, or additional work and storage space. Its combination of enclosed commercial area and open yard space creates a practical format for operations requiring both office capacity and hands-on workspace.
The property occupies approximately 26,920 square feet of land, providing substantial outdoor area alongside the building. The site can accommodate parking, equipment, company vehicles, materials, or additional work and storage space. Its combination of enclosed commercial area and open yard space creates a practical format for operations requiring both office capacity and hands-on workspace.
Key Highlights
- Approximately 2,760+/- sq. ft. building on a 26,920+/- sq. ft. lot
- Office, shop, and storage areas within one flex property
- Outdoor area supports parking, equipment, vehicles, materials, or workspace
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
Industrial
$239.2K
$209.3K – $279.1K
NOI $16,745 @ 7.0% cap · market cap 2.91%
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
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Frequently Asked Questions
What type of property is this?
Flex space - Office and shop areas combine with a sizable usable lot.
Where is this flex space located?
The property is located at 24 S 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: Approximately 2,760+/- sq. ft. building on a 26,920+/- sq. ft. lot; Office, shop, and storage areas within one flex property; Outdoor area supports parking, equipment, vehicles, materials, or workspace
