Building Details

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Listing Agency: HomeSmart Realty Partners · HomeSmart International d***@thedonnajenningsgroup.com Show Phone

Listed By: Marie Willson · License #RRE-BRO-LIC-32080 Show Phone

Added: Jun 25 Changed: Aug 21 Last Checked: Aug 21 at 12:06PM

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MLS# 30073718

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 flex-space property includes a 60-by-80-foot shop constructed in 2008. The building has 14-foot ceilings and heating, providing enclosed space for equipment, vehicles, storage, or workshop activities. Electricity, gas, plumbing, and a septic system are already installed for year-round use.

The property encompasses 15 acres at 75 Aberdare Lane in Ulm, Montana, near Great Falls. The combination of a substantial shop and existing utility infrastructure supports a range of storage, service, and work-oriented uses within the property’s rural setting.

Key Highlights

• 15‑acre property at 75 Aberdare Lane, Ulm, MT 59485
• 60x80 shop built in 2008
• 14' ceilings and heating support year‑round 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

$42,120

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

7.66%

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%

$842,400 $842.4K

Cap Rate 7%

$601,714 $601.7K

Cap Rate 9%

$468,000 $468.0K

Market Conditions

NOI Build-Up for 4,800 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

$72.0K $15.00/SF

− Vacancy

−$7.2K −$1.50/SF

EGI

$64.8K $13.50/SF

− OpEx

−$22.7K −$4.73/SF

NOI

$42.1K $8.78/SF

Area

Cascade County, MT

Vacancy

10.00%

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%

$842,400

Cap Rate 7%

$601,714

Cap Rate 9%

$468,000

Alternative Uses

Best Use

Flex RnD

$601.7K

$526.5K – $702.0K (±1% cap)

NOI $42,120 @ 7.0% cap · market cap 7.66%

Second Best

Warehouse

$390.3K

$341.5K – $455.3K (±1% cap)

NOI $27,320 @ 7.0% cap · market cap 4.97%

Theoretical Best

Specialty Retail

$934.1K

$817.4K – $1.09M (±1% cap)

NOI $65,389 @ 7.0% cap · market cap 11.89%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Property Profile

Current Use

Flex space

Lease Details

14 ft

Clear height

Yes

Utilities to site

Location Intelligence

Trade Area within ½ mile

2

Businesses Nearby

Explore this area Business Placement

Demographics for 59485, MT

879

Population

341

Households

2.6

Avg Household Size

46

Median Age

33%

College-Educated

96%

High-School Grad

56.4 sq mi

ZIP Area

16

Density / Sq Mi

$88,292

Median Household Income

$40,787

Median Earnings

$2,200

Median Rent

$289,000

Median Home Value

Market

Vacancy Rate% for Industrial in West region

3.7% 2019

4.3% 2020

2.6% 2021

2.5% 2022

4.8% 2023

6.9% 2024

7.9% 2025

Questions? Ask Rey

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What type of property is this? Where is this flex space located? What is the asking price? Find similar properties ... What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Flex space - Year-round shop space with utility connections and room for equipment, vehicles, storage, or workshop operations.

Where is this flex space located?

The property is located at 75 Aberdare Lane Ulm, MT.

What is the asking price?

The asking price for this property is $550,000.

What are key features of this property?

This property features: 15‑acre property at 75 Aberdare Lane, Ulm, MT 59485; 60x80 shop built in 2008; 14' ceilings and heating support year‑round use