Flex Space with Garage
New
For Sale
$209,670
TBD unit #28 E Weaver Lane, Red Lodge, MT 59068
CommercialSale, Red Lodge, MT
Property Size1,500 SF
Price / SF$139.78
Days on Market2
Property Features for TBD unit #28 E Weaver Lane
General Information
Property type
Commercial Sale
Property subtype
Other
Property condition
Under Construction
Parking
2
Parking features
Assigned
Subdivision
7D
Directions
Head out of Red Lodge on Highway 78 towards Roscoe and turn onto Weaver Lane near the semi-truck trailer sign with elevation storage on the side.
Standard status
Active
APN
7017021
Size
1,500 SF
Taxes and HOA fees
Tax Description
7D SUBDIVISION, S16, T07 S, R20 E, Lot 1, ACRES 1.97, PLAT 2486 AM 1
Tax Annual Amount
4992
Legal Description
7D SUBDIVISION, S16, T07 S, R20 E, Lot 1, ACRES 1.97, PLAT 2486 AM 1
Amenities
clubhouse
wash bay
restrooms
meeting room
garage
lawn and snow removal
secure fencing
gated entry
Building Details
Year built
2026
Floors in Building
1
Building materials
MetalSiding, Steel
Roof type
Metal
Listing Agency:
Coldwell Banker The Brokers RL · Coldwell Banker Real Estate
(406) 446-3001
Listed By:
Jacob Skatvold · License #RRE-RBS-LIC-127733
(218) 443-4005
Added: Aug 31
Last Checked: Sep 1 at 11:06AM
MLS# 361585
Copyright © 2026 Billings Association of Realtors. 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 under-construction flex property in Red Lodge, Montana, is scheduled for completion in 2026 and offers 1,500 square feet in unit #28. The open-plan space is designed for storage, workspace, equipment, vehicles, or inventory, with steel construction, metal siding, a metal roof, electrical service, lighting, two standard entry doors, and a 14-by-14-foot garage door. Interior customization is supported for a range of shop and workspace requirements.
The property is part of a 34-unit development comprising 27 individual shop units and 7 office/shop units. Shared amenities include a clubhouse with a wash bay, restrooms, a meeting room, and a garage. The site also includes secure fencing, gated access, assigned parking, and association-managed lawn and snow removal.
The property is part of a 34-unit development comprising 27 individual shop units and 7 office/shop units. Shared amenities include a clubhouse with a wash bay, restrooms, a meeting room, and a garage. The site also includes secure fencing, gated access, assigned parking, and association-managed lawn and snow removal.
Key Highlights
- 1,500 SF flex unit identified as unit #28
- Under construction with 2026 completion year
- 14' x 14' garage door plus two standard entry doors
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
$11,712
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
5.59%
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%
$234,240
$234.2K
Cap Rate 7%
$167,314
$167.3K
Cap Rate 9%
$130,133
$130.1K
Market Conditions
NOI Build-Up for 1,500 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
$19.8K $13.20/SF
− Vacancy
−$1.8K −$1.19/SF
EGI
$18.0K $12.01/SF
− OpEx
−$6.3K −$4.20/SF
NOI
$11.7K $7.81/SF
Area
Carbon County, MT
Vacancy
9.00%
Lease Rate
$13.20 /SF/Yr
Expense Ratio
35.00%
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%
$234,240
Cap Rate 7%
$167,314
Cap Rate 9%
$130,133
Alternative Uses
Best Use
Flex RnD
$167.3K
$146.4K – $195.2K
NOI $11,712 @ 7.0% cap · market cap 5.59%
Second Best
Warehouse
$140.0K
$122.5K – $163.3K
NOI $9,800 @ 7.0% cap · market cap 4.67%
Theoretical Best
Office A
$327.3K
$286.4K – $381.8K
NOI $22,910 @ 7.0% cap · market cap 10.93%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
7
Office units
Yes
Fenced yard
Yes
Utilities to site
Location Intelligence
Demographics for 59068, MT
3,670
Population
2,967
Households
1.2
Avg Household Size
52
Median Age
47%
College-Educated
99%
High-School Grad
520.9 sq mi
ZIP Area
7
Density / Sq Mi
$63,704
Median Household Income
$33,293
Median Earnings
$795
Median Rent
$413,900
Median Home Value
Market
Vacancy Rate% for Industrial in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Flex space - Under-construction shop space offers customizable interiors, dedicated parking, and access to shared operational amenities.
Where is this flex space located?
The property is located at TBD unit #28 E Weaver Lane Red Lodge, MT.
What is the asking price?
The asking price for this property is $209,670.
What are key features of this property?
This property features: 1,500 SF flex unit identified as unit #28; Under construction with 2026 completion year; 14' x 14' garage door plus two standard entry doors
