New-Construction Warehouse with Overhead
For Sale
$421,875
9442 Sanctuary Estates #10, Billings, MT 59101
Insulated warehouse space with a private ADA bathroom, common parking, and access to shared pickleball courts.
Property Size3,125 SF
Price / SF$135
Days on Market10
Property Features for 9442 Sanctuary Estates #10
General Information
Standard status
Active
Size
3,125 SF
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$3,276
Amenities
Garage: Common,Parking Lot
0.00
Common,Parking Lot
Building Details
Year Built
2023
Listing Agency:
Engel & Voelkers
Listed By:
Callen Kleinhenz · License #RRE-RBS-LIC-127073
(406) 425-8147
Source:
Clearwaterproperties
Added: Sep 18
Changed: Sep 26
Last Checked: Sep 26 at 8:00AM
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 Engel & Voelkers
Investment Insights
Based on property information with market context.
Built in 2023, this warehouse property offers an insulated interior, three 14' x 14' overhead doors, a GFA heater, and a private ADA bathroom. The configuration provides practical access for commercial storage, service, or industrial operations, subject to applicable requirements.
The property is located at 9442 Sanctuary Estates #10 in Billings, positioned between Billings and Laurel with access to both communities. Common-area features include parking and two pickleball courts. The HOA covers property insurance, water, sewer, garbage, snow removal, landscaping, and management, supporting a managed ownership structure.
The property is located at 9442 Sanctuary Estates #10 in Billings, positioned between Billings and Laurel with access to both communities. Common-area features include parking and two pickleball courts. The HOA covers property insurance, water, sewer, garbage, snow removal, landscaping, and management, supporting a managed ownership structure.
Key Highlights
- Three 14' x 14' overhead doors
- 2023 construction with fully insulated interior
- Private ADA bathroom
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
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
30
Businesses Nearby
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Industrial in West region
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Frequently Asked Questions
What type of property is this?
Warehouse - Insulated warehouse space with a private ADA bathroom, common parking, and access to shared pickleball courts.
Where is this warehouse located?
The property is located at 9442 Sanctuary Estates #10 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: Three 14' x 14' overhead doors; 2023 construction with fully insulated interior; Private ADA bathroom
