One-Level Flex
For Sale
Under Contract
$879,000
3171 Bozeman Avenue, Helena, MT 59601
CommercialSale, Helena, MT
Property Size7,680 SF
Lot Size0.55 Acres
Price / SF$114.45
Days on Market77
Property Features for 3171 Bozeman Avenue
General Information
Property type
Commercial Sale
Property subtype
Other
Directions
Carter Drive turn East on Bozeman Ave.
Standard status
Active Under Contract
APN
05188828105190000
Lot size
0.55 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
.553 Acre (North Lot)Geocode:05-1888-28-1-05-19-0000 HELENA INDUSTRIAL SITES SUBD, S28, T10 N, R03 W, BLOCK 1, Lot 33 .553 Acre (South Lot)Geocode: 05-1888-28-1-05-20-0000 - Assr#: 0000023335 HELENA INDUSTRIAL SITES SUBD, S28, T10 N, R03 W, BLOCK 1, Lot 32
Tax Annual Amount
12921
Legal Description
.553 Acre (North Lot)Geocode:05-1888-28-1-05-19-0000 HELENA INDUSTRIAL SITES SUBD, S28, T10 N, R03 W, BLOCK 1, Lot 33 .553 Acre (South Lot)Geocode: 05-1888-28-1-05-20-0000 - Assr#: 0000023335 HELENA INDUSTRIAL SITES SUBD, S28, T10 N, R03 W, BLOCK 1, Lot 32
Building Details
Year built
1979
Listing Agency:
Associated Brokers, LLC
(406) 439-7561
Listed By:
BJ Geier · License #RRE-BRO-LIC-11823
(406) 439-7561
Added: Jun 5
Changed: Aug 20
Last Checked: Aug 20 at 9:06PM
MLS# 30072405
Copyright © 2026 Montana Regional 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 one-level flex property at 3171 Bozeman Avenue combines office and warehouse areas within a 7,680-square-foot building constructed in 1979. The layout includes two bathrooms, with one featuring a shower, and sits on a parcel recorded at 0.553 acres.
The property is in Helena near the airport, with highway connections extending north, south, east, and west. Showings require the presence of the FedEx manager, and closing is scheduled after FedEx vacates the property, approximately October 1, 2026.
The property is in Helena near the airport, with highway connections extending north, south, east, and west. Showings require the presence of the FedEx manager, and closing is scheduled after FedEx vacates the property, approximately October 1, 2026.
Key Highlights
- 7,680‑square‑foot building constructed in 1979
- One‑level configuration with office and warehouse areas
- Two bathrooms, including one with a shower
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
$68,890
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
7.84%
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%
$1,377,800
$1.4M
Cap Rate 7%
$984,143
$984.1K
Cap Rate 9%
$765,444
$765.4K
Market Conditions
NOI Build-Up for 7,680 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
$115.2K $15.00/SF
− Vacancy
−$9.2K −$1.20/SF
EGI
$106.0K $13.80/SF
− OpEx
−$37.1K −$4.83/SF
NOI
$68.9K $8.97/SF
Area
Lewis and Clark County, MT
Vacancy
8.00%
Lease Rate
$15.00 /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%
$1,377,800
Cap Rate 7%
$984,143
Cap Rate 9%
$765,444
Alternative Uses
Best Use
Office B
$1.18M
$1.03M – $1.37M
NOI $82,253 @ 7.0% cap · market cap 9.36%
Second Best
Flex RnD
$984.1K
$861.1K – $1.15M
NOI $68,890 @ 7.0% cap · market cap 7.84%
Theoretical Best
Office A
$1.67M
$1.46M – $1.95M
NOI $116,785 @ 7.0% cap · market cap 13.29%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
100%
Occupancy
Single-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
211
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 59601, MT
30,848
Population
15,937
Households
1.9
Avg Household Size
41
Median Age
51%
College-Educated
96%
High-School Grad
130.2 sq mi
ZIP Area
237
Density / Sq Mi
$70,502
Median Household Income
$44,000
Median Earnings
$1,023
Median Rent
$355,000
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 - Office and warehouse space with two bathrooms, including one with a shower, near the airport and regional highways.
Where is this flex space located?
The property is located at 3171 Bozeman Avenue Helena, MT.
What is the asking price?
The asking price for this property is $879,000.
What are key features of this property?
This property features: 7,680‑square‑foot building constructed in 1979; One‑level configuration with office and warehouse areas; Two bathrooms, including one with a shower
