New Warehouse with Overhead
For Sale
$421,875
9442 Sanctuary Estates #10 Drive, Billings, MT 59101
CommercialSale, Billings, MT
Property Size3,125 SF
Price / SF$135
Days on Market12
Property Features for 9442 Sanctuary Estates #10 Drive
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
Un-zoned
Parking features
Parking Lot
Subdivision
Abc Shop Condos 24
Standard status
Active
APN
C18644J
Size
3,125 SF
Taxes and HOA fees
Tax Description
ABC SHOP CONDOS (24), S33, T01 S, R25 E, UNIT 10, 10.71% COMMON AREA INTEREST, LOC @ LOT 3A, ABC SUB AMD (26)
Tax Annual Amount
3276
Legal Description
ABC SHOP CONDOS (24), S33, T01 S, R25 E, UNIT 10, 10.71% COMMON AREA INTEREST, LOC @ LOT 3A, ABC SUB AMD (26)
Utilities
Sewer type
Septic Tank
Heating system
Forced Air, Natural Gas
Water source
Well
Amenities
Pickleball courts
Private ADA bathroom
Building Details
Year built
2023
Floors in Building
1
Building materials
MetalSiding
Roof type
Metal
Listing Agency:
Engel & Voelkers
(406) 206-0192
Listed By:
Callen Kleinhenz · License #RRE-RBS-LIC-127073
(406) 425-8147
Added: Sep 16
Last Checked: Sep 27 at 11:06AM
MLS# 361938
Copyright © 2026 Billings Association of Realtors. 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.
Built in 2023, this 3,125-square-foot warehouse offers a practical shell for commercial operations, with fully insulated construction, a metal roof, and metal siding. Three 14' x 14' overhead doors support loading access, while a GFA heater and natural-gas forced-air system provide heat. The building also includes a private ADA bathroom and parking-lot access.
Sanctuary Estates is positioned between Billings and Laurel, with access to both communities. Property services covered through the HOA include property insurance, water, sewer, garbage, snow removal, landscaping, and management. The site also includes two pickleball courts. Water is supplied by a well, and wastewater is handled by a septic tank.
Sanctuary Estates is positioned between Billings and Laurel, with access to both communities. Property services covered through the HOA include property insurance, water, sewer, garbage, snow removal, landscaping, and management. The site also includes two pickleball courts. Water is supplied by a well, and wastewater is handled by a septic tank.
Key Highlights
- 3,125‑square‑foot warehouse built in 2023
- Three 14' x 14' overhead doors
- Fully insulated metal building with metal roof
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
$24,399
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
5.78%
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%
$487,980
$488.0K
Cap Rate 7%
$348,557
$348.6K
Cap Rate 9%
$271,100
$271.1K
Market Conditions
NOI Build-Up for 3,125 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
$41.3K $13.20/SF
− Vacancy
−$3.7K −$1.19/SF
EGI
$37.5K $12.01/SF
− OpEx
−$13.1K −$4.20/SF
NOI
$24.4K $7.81/SF
Area
Billings, MT
Vacancy
9.00%
Lease Rate
$13.20 /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%
$487,980
Cap Rate 7%
$348,557
Cap Rate 9%
$271,100
Alternative Uses
Best Use
Flex RnD
$348.6K
$305.0K – $406.7K
NOI $24,399 @ 7.0% cap · market cap 5.78%
Second Best
Warehouse
$291.7K
$255.2K – $340.3K
NOI $20,416 @ 7.0% cap · market cap 4.84%
Theoretical Best
Office A
$681.9K
$596.6K – $795.5K
NOI $47,730 @ 7.0% cap · market cap 11.31%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
47
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 59101, MT
41,522
Population
18,864
Households
2.2
Avg Household Size
37
Median Age
22%
College-Educated
91%
High-School Grad
590.8 sq mi
ZIP Area
70
Density / Sq Mi
$58,165
Median Household Income
$36,258
Median Earnings
$930
Median Rent
$243,000
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.
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Frequently Asked Questions
What type of property is this?
Warehouse - New-construction warehouse with insulated metal siding, a private ADA bathroom, and natural-gas forced-air heating.
Where is this warehouse located?
The property is located at 9442 Sanctuary Estates #10 Drive Billings, MT.
What is the asking price?
The asking price for this property is $421,875.
What are key features of this property?
This property features: 3,125‑square‑foot warehouse built in 2023; Three 14' x 14' overhead doors; Fully insulated metal building with metal roof
