Workshop on Zoned
For Sale
$350,000
3320 Saddle Rock Road, Butte, MT 59701
R1-S zoned land with a 2,000 sq ft shop featuring finished concrete floors, plus two wells and two septic systems.
Property Size2,000 SF
Lot Size2.60 Acres
Price / SF$175
Days on Market125
Property Features for 3320 Saddle Rock Road
General Information
Standard status
Active
Size
2,000 SF
Lot size
2.60 Acres
Property subtype
Land
Zoning
R1
Listing Agency:
Engel & Volkers - Butte
(406) 498-5682
Listed By:
Trevor Bristol
Source:
Purewestrealestate
Added: Apr 8
Changed: Aug 8
Last Checked: Apr 8 at 10:27AM
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 Engel & Volkers - Butte
Investment Insights
Based on property information with market context.
The property offers 2.6 acres of R1-S zoned land with an existing 2,000 sq ft shop. The shop includes finished concrete floors, providing a practical interior space for storage, a workshop, or hobby use.
On-site utilities are already established, including two wells and two septic systems, which can support ongoing occupancy or day-to-day use tied to the property.
This combination of zoned acreage and an improved shop gives buyers a developed starting point for their intended use within the R1-S zoning parameters.
On-site utilities are already established, including two wells and two septic systems, which can support ongoing occupancy or day-to-day use tied to the property.
This combination of zoned acreage and an improved shop gives buyers a developed starting point for their intended use within the R1-S zoning parameters.
Key Highlights
- 2.6 acres of R1‑S zoned land
- Includes a 2,000 sq ft shop with finished concrete floors
- Shop can support workshop, storage, or hobby use
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
$14,735
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
4.21%
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%
$294,700
$294.7K
Cap Rate 7%
$210,500
$210.5K
Cap Rate 9%
$163,722
$163.7K
Market Conditions
NOI Build-Up for 2,000 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
$18.7K $9.36/SF
− Vacancy
−$1.4K −$0.69/SF
EGI
$17.3K $8.67/SF
− OpEx
−$2.6K −$1.30/SF
NOI
$14.7K $7.37/SF
Area
Silver Bow County, MT
Vacancy
7.40%
Lease Rate
$9.36 /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%
$294,700
Cap Rate 7%
$210,500
Cap Rate 9%
$163,722
Alternative Uses
Best Use
Warehouse
$210.5K
$184.2K – $245.6K
NOI $14,735 @ 7.0% cap · market cap 4.21%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$435.9K
$381.4K – $508.5K
NOI $30,512 @ 7.0% cap · market cap 8.72%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
46
Businesses Nearby
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 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?
Residential land & home lot - R1-S zoned land with a 2,000 sq ft shop featuring finished concrete floors, plus two wells and two septic systems.
Where is this residential land & home lot located?
The property is located at 3320 Saddle Rock Road Butte, MT.
What is the asking price?
The asking price for this property is $350,000.
What are key features of this property?
This property features: 2.6 acres of R1‑S zoned land; Includes a 2,000 sq ft shop with finished concrete floors; Shop can support workshop, storage, or hobby use
