Montana Commercial Property For
For Sale
$925,000
412 E Railroad N Avenue, Manhattan, MT 59741
Investment opportunity in Manhattan, Montana, near Bozeman and Yellowstone.
Property Size5,376 SF
Price / SF$172.06
Days on Market521
Property Features for 412 E Railroad N Avenue
General Information
Standard status
Active
Size
5,376 SF
Property subtype
Commercial/Industrial
Building Details
Year Built
1982
Listing Agency:
Corder and Associates, LLC
(406) 544-0540
Listed By:
Brady Bergstrom · License #RRE-RBS-LIC-119325
(406) 544-0540
Source:
Exitrealty
Added: Feb 28, 2025
Changed: Jul 10
Last Checked: Aug 3 at 4:24AM
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 Corder and Associates, LLC
Investment Insights
Based on property information with market context.
Located in Manhattan, Montana, this commercial property offers an investment opportunity in a growing market, strategically positioned near Bozeman and Yellowstone National Park. The location benefits from consistent foot traffic from both residents and tourists. The property is equipped with three overhead heaters and separate offices featuring radiant heating. It also includes a dust collector and air system, suitable for woodworking, metalworking, or similar trades. The investment brings in $7,100 per month on its current lease. The property is suitable for retail ventures, with community support for business growth. Local events such as the Manhattan Potato Festival and farmers markets enhance visibility and customer engagement. The property size is 5376 square feet.
Key Highlights
- High Monthly Rental Income: Generates $7,100 per month from the current lease.
- Strategic Location: Situated near Bozeman and Yellowstone National Park, attracting both residents and tourists.
- Versatile Shop Space: Equipped with three overhead heaters, a dust collector, and an air system, suitable for woodworking, metalworking, or similar trades.
Financial Insights For Flex RnD
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $107.7k | $20.04 |
| − Vacancy | −$7.1k | −$1.32 |
| EGI | $100.6k | $18.72 |
| − OpEx | −$35.2k | −$6.55 |
| NOI | $65.4k | $12.17 |
5,376 SF · lease $20.04/SF/yr · vacancy 6.60% · expense 35.00%
Alternative Uses
Best Use
Flex RnD
$934.4K
$817.6K – $1.09M
NOI $65,406 @ 7.0% cap · market cap 7.07%
Second Best
Retail
$899.9K
$787.5K – $1.05M
NOI $62,996 @ 7.0% cap · market cap 6.81%
Theoretical Best
Office A
$1.40M
$1.23M – $1.64M
NOI $98,265 @ 7.0% cap · market cap 10.62%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
197
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 59741, MT
5,397
Population
2,330
Households
2.3
Avg Household Size
39
Median Age
36%
College-Educated
99%
High-School Grad
164.9 sq mi
ZIP Area
33
Density / Sq Mi
$86,382
Median Household Income
$48,460
Median Earnings
$1,676
Median Rent
$562,300
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 - Investment opportunity in Manhattan, Montana, near Bozeman and Yellowstone.
Where is this flex space located?
The property is located at 412 E Railroad N Avenue Manhattan, MT.
What is the asking price?
The asking price for this property is $925,000.
What are key features of this property?
This property features: High Monthly Rental Income: Generates $7,100 per month from the current lease.; Strategic Location: Situated near Bozeman and Yellowstone National Park, attracting both residents and tourists.; Versatile Shop Space: Equipped with three overhead heaters, a dust collector, and an air system, suitable for woodworking, metalworking, or similar trades.
