Industrial Facility with Living
For Sale
Contact for pricing
7795 Thorpe Rd, Bozeman, MT 59718
Un-zoned industrial facility with live/work configuration near Interstate 90.
Property Size13,000 SF
Price / SF$250
Days on Market175
Property Features for 7795 Thorpe Rd
General Information
Standard status
Active
Size
13,000 SF
Class
A
Property subtype
Industrial
Zoning
Unzoned
Investment Type
Owner/User
Building Details
Year Built
2007
Year Renovated
2020
Buildings
1
Stories
2
Listing Agency:
Endstate Commercial Partners
(406) 579-5586
Listed By:
Ryan Springer, CCIM · License #RRE-BRO-LIC-88623
Source:
Crexi
Added: Feb 18
Changed: Aug 8
Last Checked: Aug 11 at 7:33PM
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 Endstate Commercial Partners
Investment Insights
Based on property information with market context.
This approximately 13,000 square foot industrial facility is positioned between Belgrade and Four Corners, providing convenient access to Interstate 90. The property is un-zoned with no covenants, offering flexibility for various industrial and operational uses. Currently operating as a cannabis cultivation facility, the warehouse is fully built out, enabling a user to commence operations with minimal additional improvements. It features four 14-foot overhead roll-up doors, ample power capacity, and a functional layout designed to support production efficiency. The site layout facilitates easy truck circulation, deliveries, and potential future expansion. The second level above the warehouse includes a well-appointed living quarters, complete with a private bedroom, full kitchen, full bathroom, and private balcony, making it ideal for an on-site manager or owner-user seeking a live/work configuration. While presently configured for marijuana cultivation, the property is also well-suited for light manufacturing, specialty production, flex industrial use, or other owner-user applications requiring adaptable industrial space in a highly accessible Gallatin Valley corridor.
Key Highlights
- Un‑zoned property with no covenants allows for flexible industrial and operational uses.
- ±13,000 SF industrial facility with functional layout designed for production efficiency.**
- Currently operating as a cannabis cultivation facility, allowing for immediate operation.
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
$158,162
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
4.87%
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%
$3,163,240
$3.2M
Cap Rate 7%
$2,259,457
$2.3M
Cap Rate 9%
$1,757,356
$1.8M
Market Conditions
NOI Build-Up for 13,000 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
$260.5K $20.04/SF
− Vacancy
−$17.2K −$1.32/SF
EGI
$243.3K $18.72/SF
− OpEx
−$85.2K −$6.55/SF
NOI
$158.2K $12.17/SF
Area
Gallatin County, MT
Vacancy
6.60%
Lease Rate
$20.04 /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%
$3,163,240
Cap Rate 7%
$2,259,457
Cap Rate 9%
$1,757,356
Alternative Uses
Best Use
Flex RnD
$2.26M
$1.98M – $2.64M
NOI $158,162 @ 7.0% cap · market cap 4.87%
Second Best
Industrial
$1.93M
$1.69M – $2.25M
NOI $134,999 @ 7.0% cap · market cap 4.15%
Theoretical Best
Office A
$3.39M
$2.97M – $3.96M
NOI $237,619 @ 7.0% cap · market cap 7.31%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
13
Businesses Nearby
Explore this area
Business Placement
Demographics for 59718, MT
43,831
Population
19,765
Households
2.2
Avg Household Size
33
Median Age
57%
College-Educated
97%
High-School Grad
164.5 sq mi
ZIP Area
266
Density / Sq Mi
$91,852
Median Household Income
$44,915
Median Earnings
$1,748
Median Rent
$579,800
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?
Cannabis property - Un-zoned industrial facility with live/work configuration near Interstate 90.
Where is this cannabis property located?
The property is located at 7795 Thorpe Rd Bozeman, MT.
What is the asking price?
The asking price for this property is $3,250,000.
What are key features of this property?
This property features: Un‑zoned property with no covenants allows for flexible industrial and operational uses.; ±13,000 SF industrial facility with functional layout designed for production efficiency.**; Currently operating as a cannabis cultivation facility, allowing for immediate operation.
