Light Industrial Flex
For Sale
$485,000
30 Shawnee Way, Bozeman, MT 59715
CommercialSale, Bozeman, MT
Property Size2,026 SF
Price / SF$239.39
Days on Market198
Property Features for 30 Shawnee Way
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
M1
Directions
From East Frontage Road, turn south on Shawnee Way. Building 30 will be the furthest building back, and Unit E is on the right side of the building.
Subdivision
1SM - Boz Main to Kagy
Standard status
Active
APN
RGH51346
Size
2,026 SF
Taxes and HOA fees
Tax Year
2025
Tax Description
EAST END COMMERCIAL WAREHOUSES CONDO, S09, T02 S, R06 E, UNIT 30E
Tax Annual Amount
2784
HOA Fee
$250 Monthly
Legal Description
EAST END COMMERCIAL WAREHOUSES CONDO, S09, T02 S, R06 E, UNIT 30E
Building Details
Year built
2006
Listing Agency:
Starner Commercial Real Estate
(406) 586-0302
Listed By:
Tom Starner · License #BRO-12265
(406) 539-0717
Added: Feb 9
Changed: Aug 19
Last Checked: Aug 26 at 11:06PM
MLS# 408474
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 2026-square-foot light industrial commercial condominium, built in 2006, offers a practical mix of warehouse, showroom, office, and storage space. A large overhead door serves the warehouse, while a separate man door opens to the office and showroom area. Ground-floor rooms can support additional offices or storage, and the finished upper level includes a private windowed office and separate work area.
The property is in East Bozeman just off East Frontage Road, with access to the East Main Interchange of I-90. Its two-level configuration and combination of work, display, and administrative areas support owner-occupant or investment use.
The property is in East Bozeman just off East Frontage Road, with access to the East Main Interchange of I-90. Its two-level configuration and combination of work, display, and administrative areas support owner-occupant or investment use.
Key Highlights
- 2026 square feet of light industrial commercial condominium space
- Large overhead door provides access to the warehouse area
- Office and showroom entry served by a separate man 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
$29,803
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
6.14%
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%
$596,060
$596.1K
Cap Rate 7%
$425,757
$425.8K
Cap Rate 9%
$331,144
$331.1K
Market Conditions
NOI Build-Up for 2,026 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
$42.5K $21.00/SF
− Vacancy
−$2.8K −$1.39/SF
EGI
$39.7K $19.61/SF
− OpEx
−$9.9K −$4.90/SF
NOI
$29.8K $14.71/SF
Area
Gallatin County, MT
Vacancy
6.60%
Lease Rate
$21.00 /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%
$596,060
Cap Rate 7%
$425,757
Cap Rate 9%
$331,144
Alternative Uses
Best Use
Office B
$425.8K
$372.5K – $496.7K
NOI $29,803 @ 7.0% cap · market cap 6.14%
Second Best
Warehouse
$365.0K
$319.3K – $425.8K
NOI $25,547 @ 7.0% cap · market cap 5.27%
Theoretical Best
Office A
$529.0K
$462.9K – $617.2K
NOI $37,032 @ 7.0% cap · market cap 7.64%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
119
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 59715, MT
37,286
Population
17,116
Households
2.2
Avg Household Size
30
Median Age
68%
College-Educated
98%
High-School Grad
294.9 sq mi
ZIP Area
126
Density / Sq Mi
$85,000
Median Household Income
$31,646
Median Earnings
$1,376
Median Rent
$755,300
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.
Frequently Asked Questions
What type of property is this?
Flex space - Commercial condo combines warehouse, showroom, and flexible office areas across two levels.
Where is this flex space located?
The property is located at 30 Shawnee Way Bozeman, MT.
What is the asking price?
The asking price for this property is $485,000.
What are key features of this property?
This property features: 2026 square feet of light industrial commercial condominium space; Large overhead door provides access to the warehouse area; Office and showroom entry served by a separate man door
