New 2023 Fourplex
For Sale
Contact for pricing
93 W Jefferson, Belgrade, MT 59714
Four-unit property built in 2023 with private laundry and attached one-car garages, fully rented for immediate income.
Property Size6,088 SF
Price / SF$254.60
Days on Market128
Property Features for 93 W Jefferson
General Information
Standard status
Active
Size
6,088 SF
Total Parking Spaces
8
Property subtype
Multifamily
Zoning
MR
Occupancy
100%
Investment Type
Stabilized
Additional Details
Multifamily Units
4
Building Details
Year Built
2023
Buildings
1
Stories
3
Units
4
Tenancy
Multi
Listing Agency:
Berkshire Hathaway HomeServices Montana Properties
Listed By:
Claire Gillam · License #MT
(406) 581-4070
Source:
Crexi
Added: May 1
Changed: Aug 8
Last Checked: Aug 29 at 9:59AM
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 Berkshire Hathaway HomeServices Montana Properties
Investment Insights
Based on property information with market context.
Built in 2023, this fourplex contains four spacious units, each offering 3 bedrooms and 2.5 bathrooms. Every unit includes a private laundry room and an attached one-car garage. The property is fully rented, with three units leased at $2,375 per month and one unit leased at $2,200 per month.
Located at 93 W Jefferson in Belgrade, Montana, the building is described as being in the heart of downtown Belgrade, with proximity to local amenities, shopping, dining, parks, and commuting routes.
With newer construction and an existing rental structure in place, the property is positioned for an investor seeking a turnkey fourplex setup.
Located at 93 W Jefferson in Belgrade, Montana, the building is described as being in the heart of downtown Belgrade, with proximity to local amenities, shopping, dining, parks, and commuting routes.
With newer construction and an existing rental structure in place, the property is positioned for an investor seeking a turnkey fourplex setup.
Key Highlights
- Fourplex built in 2023 with four units, each with 3 bedrooms and 2.5 bathrooms
- Fully rented for immediate income: three units at $2,375/month and one unit at $2,200/month
- Each unit includes a private laundry room
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
$68,624
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
4.43%
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%
$1,372,480
$1.4M
Cap Rate 7%
$980,343
$980.3K
Cap Rate 9%
$762,489
$762.5K
Market Conditions
NOI Build-Up for 6,088 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
$103.7K $17.04/SF
− Vacancy
−$5.7K −$0.94/SF
EGI
$98.0K $16.10/SF
− OpEx
−$29.4K −$4.83/SF
NOI
$68.6K $11.27/SF
Area
Gallatin County, MT
Vacancy
5.50%
Lease Rate
$17.04 /SF/Yr
Expense Ratio
30.00%
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%
$1,372,480
Cap Rate 7%
$980,343
Cap Rate 9%
$762,489
Alternative Uses
Best Use
Multifamily LT 5
$980.3K
$857.8K – $1.14M
NOI $68,624 @ 7.0% cap · market cap 4.43%
Second Best
Apartment 5plus
$910.7K
$796.8K – $1.06M
NOI $63,747 @ 7.0% cap · market cap 4.11%
Theoretical Best
Office A
$1.59M
$1.39M – $1.85M
NOI $111,279 @ 7.0% cap · market cap 7.18%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
669
Businesses Nearby
Explore this area
Business Placement
Demographics for 59714, MT
22,333
Population
10,043
Households
2.2
Avg Household Size
35
Median Age
37%
College-Educated
97%
High-School Grad
418.2 sq mi
ZIP Area
53
Density / Sq Mi
$89,217
Median Household Income
$47,587
Median Earnings
$1,558
Median Rent
$490,000
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Quadplex - Four-unit property built in 2023 with private laundry and attached one-car garages, fully rented for immediate income.
Where is this quadplex located?
The property is located at 93 W Jefferson Belgrade, MT.
What is the asking price?
The asking price for this property is $1,550,000.
What are key features of this property?
This property features: Fourplex built in 2023 with four units, each with 3 bedrooms and 2.5 bathrooms; Fully rented for immediate income: three units at $2,375/month and one unit at $2,200/month; Each unit includes a private laundry room
