Building Details

Year Built 2008

Listing Agency: HomeSmart Realty Partners m***@montanaboundrealestate.com Show Phone

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

Source: Purewestrealestate

Added: Jun 28 Changed: Aug 13 Last Checked: Aug 20 at 5:50AM

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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 HomeSmart Realty Partners

Investment Insights

Based on property information with market context.

This property centers on a 60-by-80 shop built in 2008. The heated building is designed for practical equipment, vehicle, and storage or workshop use, with 14-foot ceiling height for overhead clearance. Utilities are already in place, including electricity, gas, plumbing, and a septic system, supporting year-round occupancy and operation.

The land consists of 15 acres and is located just a few miles from Great Falls, offering a rural setting while keeping the area accessible. The combination of open acreage and a purpose-built shop provides space to support a wide range of activities that benefit from both indoor working area and outdoor room.

For tenants, buyers, or operators, the existing infrastructure makes this a straightforward option for those seeking a covered base for storing recreational equipment, running a workshop, or managing other hands-on uses that require reliable utilities. The property’s heated shop and vehicle-and-equipment-friendly dimensions support flexible day-to-day operations, with the acreage giving room to expand activities outdoors as needed.

Key Highlights

• 60x80 heated shop built in 2008 with 14' ceilings
• Shop includes electricity, gas, plumbing, and a septic system already in place
• 15‑acre property just a few miles from Great Falls

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

$27,320

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

4.97%

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%

$546,400 $546.4K

Cap Rate 7%

$390,286 $390.3K

Cap Rate 9%

$303,556 $303.6K

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

$34.6K $7.20/SF

− Vacancy

−$2.4K −$0.50/SF

EGI

$32.1K $6.70/SF

− OpEx

−$4.8K −$1.00/SF

NOI

$27.3K $5.69/SF

Area

Cascade County, MT

Vacancy

7.00%

Lease Rate

$7.20 /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%

$546,400

Cap Rate 7%

$390,286

Cap Rate 9%

$303,556

Alternative Uses

Best Use

Warehouse

$390.3K

$341.5K – $455.3K (±1% cap)

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

Second Best

—

—

no second resolved use

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

Warehouses

Lease Details

14 ft

Clear height

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

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Frequently Asked Questions

What type of property is this?

Warehouse - A heated 60-by-80 shop with utilities and septic on 15 acres for year-round storage or workshop use.

Where is this warehouse 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: 60x80 heated shop built in 2008 with 14' ceilings; Shop includes electricity, gas, plumbing, and a septic system already in place; 15‑acre property just a few miles from Great Falls