Heated Warehouse
For Sale
$472,550
3-1102 N Jackrabbit Ln, Belgrade, MT 59714
Insulated metal construction supports commercial, industrial, and storage uses.
Property Size1,454 SF
Price / SF$325
Days on Market77
Property Features for 3-1102 N Jackrabbit Ln
General Information
Standard status
Active
Size
1,454 SF
Warehouse & Industrial
Clear Height
18 ft
Drive-In Doors
1
Additional Details
Highway Access
Yes
Taxes and HOA fees
Annual Taxes
$1,730
Building Details
Construction
metal building
Listing Agency:
Berkshire Hathaway - Bozeman
(406) 586-7676
Listed By:
Nicole Taranto · License #RBS-46320
(406) 539-5358
Source:
Exprealty
Added: Jul 1
Changed: Sep 6
Last Checked: Sep 15 at 11:49AM
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 Berkshire Hathaway - Bozeman
Investment Insights
Based on property information with market context.
The property is a commercial warehouse condo in a fully insulated and heated metal building. It features 18-foot ceilings and an oversized 14' x 14' overhead garage door, providing access for a range of commercial and industrial uses. The space is also suited to business or personal storage needs.
Located at 3-1102 N Jackrabbit Ln in Belgrade, Montana, the property is minutes from Bozeman Yellowstone International Airport (BZN) and Interstate 90. It also offers access to the direct route to Big Sky, with connections to Bozeman, Belgrade, and the surrounding commercial corridor. The combination of insulated, heated construction, substantial ceiling height, and oversized overhead access creates a practical warehouse configuration for owner-users or investors.
Located at 3-1102 N Jackrabbit Ln in Belgrade, Montana, the property is minutes from Bozeman Yellowstone International Airport (BZN) and Interstate 90. It also offers access to the direct route to Big Sky, with connections to Bozeman, Belgrade, and the surrounding commercial corridor. The combination of insulated, heated construction, substantial ceiling height, and oversized overhead access creates a practical warehouse configuration for owner-users or investors.
Key Highlights
- Commercial warehouse condo in a fully insulated and heated metal building
- 18‑foot ceilings
- Oversized 14' x 14' overhead garage door
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
$18,335
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
3.88%
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%
$366,700
$366.7K
Cap Rate 7%
$261,929
$261.9K
Cap Rate 9%
$203,722
$203.7K
Market Conditions
NOI Build-Up for 1,454 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
$21.8K $15.00/SF
− Vacancy
−$240 −$0.17/SF
EGI
$21.6K $14.83/SF
− OpEx
−$3.2K −$2.23/SF
NOI
$18.3K $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%
$366,700
Cap Rate 7%
$261,929
Cap Rate 9%
$203,722
Alternative Uses
Best Use
Warehouse
$261.9K
$229.2K – $305.6K
NOI $18,335 @ 7.0% cap · market cap 3.88%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$379.7K
$332.2K – $443.0K
NOI $26,577 @ 7.0% cap · market cap 5.62%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
18 ft
Clear height
1
Drive-in doors
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
485
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 59714, MT
22,333
Population
10,043
Households
2.2
Avg Household Size
35
Median Age
37%
College-Educated
97%
High-School Grad
418.2 sq mi
ZIP Area
53
Density / Sq Mi
$89,217
Median Household Income
$47,587
Median Earnings
$1,558
Median Rent
$490,000
Median Home Value
Market
Vacancy Rate% for Industrial in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Warehouse - Insulated metal construction supports commercial, industrial, and storage uses.
Where is this warehouse located?
The property is located at 3-1102 N Jackrabbit Ln Belgrade, MT.
What is the asking price?
The asking price for this property is $472,550.
What are key features of this property?
This property features: Commercial warehouse condo in a fully insulated and heated metal building; 18‑foot ceilings; Oversized 14' x 14' overhead garage door
