West Yellowstone Lodging
For Sale
Contact for pricing
229 N Hayden St, West Yellowstone, MT 59758
Condos and motel rooms near Yellowstone National Park entrance.
Property Size19,404 SF
Price / SF$324.68
Days on Market1489
Property Features for 229 N Hayden St
General Information
Standard status
Active
Size
19,404 SF
Property subtype
Hospitality
Zoning
B3
Net Operating Income
$526,722
Building Details
Year Built
2011
Buildings
6
Stories
2
Listing Agency:
West Coast Commercial Realty
(310) 274-0805
Listed By:
Jaxson Maurer · License #WA 20107582
Source:
Crexi
Added: Jul 25, 2022
Changed: Aug 16
Last Checked: Aug 17 at 6:42PM
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 West Coast Commercial Realty
Investment Insights
Based on property information with market context.
The Aspen is a lodging property in West Yellowstone, Montana, featuring both condos and motel rooms. Located five blocks from the west entrance to Yellowstone National Park, it offers convenient access to the park. The property is situated on 3 city lots and is within walking distance of shopping, restaurants, markets, and other amenities. Accommodations range from single king motel rooms to condos spanning 1,200 to 2,200 square feet. Recent updates within the past 18 months include new carpets, curtains, lobby enhancements, and improved Wi-Fi.
Key Highlights
- Prime Location: Just five blocks from the West Entrance to Yellowstone National Park.
- Walking Distance: Close to shopping, restaurants, markets, and other amenities.
- Newer Construction: Built in 2011, offering modern accommodations.
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
$248,856
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
3.95%
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%
$4,977,120
$5.0M
Cap Rate 7%
$3,555,086
$3.6M
Cap Rate 9%
$2,765,067
$2.8M
Market Conditions
NOI Build-Up for 19,404 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
$582.1K $30.00/SF
− Vacancy
−$58.2K −$3.00/SF
EGI
$523.9K $27.00/SF
− OpEx
−$275.1K −$14.18/SF
NOI
$248.9K $12.83/SF
Area
Gallatin County, MT
Vacancy
10.00%
Lease Rate
$30.00 /SF/Yr
Expense Ratio
52.50%
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%
$4,977,120
Cap Rate 7%
$3,555,086
Cap Rate 9%
$2,765,067
Alternative Uses
Best Use
Hotel Hospitality
$3.56M
$3.11M – $4.15M
NOI $248,856 @ 7.0% cap · market cap 3.95%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$5.07M
$4.43M – $5.91M
NOI $354,674 @ 7.0% cap · market cap 5.63%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Demographics for 59758, MT
1,932
Population
1,695
Households
1.1
Avg Household Size
43
Median Age
32%
College-Educated
90%
High-School Grad
413.9 sq mi
ZIP Area
5
Density / Sq Mi
$59,750
Median Household Income
$32,439
Median Earnings
$1,050
Median Rent
$476,600
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Motel - Condos and motel rooms near Yellowstone National Park entrance.
Where is this motel located?
The property is located at 229 N Hayden St West Yellowstone, MT.
What is the asking price?
The asking price for this property is $6,300,000.
What are key features of this property?
This property features: Prime Location: Just five blocks from the West Entrance to Yellowstone National Park.; Walking Distance: Close to shopping, restaurants, markets, and other amenities.; Newer Construction: Built in 2011, offering modern accommodations.
