Multi-Unit Flex Industrial
For Sale
$9,300,000
96 Laura Louise Lane, Bozeman, MT 59718
Fully leased flex/industrial property with 18 units and an established rental history.
Property Size42,846 SF
Price / SF$217.06
Days on Market84
Property Features for 96 Laura Louise Lane
General Information
Standard status
Active
Size
42,846 SF
Property subtype
Commercial
Zoning
C
Taxes and HOA fees
Annual Taxes
$50,230
Building Details
Building Size
42,846 SF
Year Built
2018
Listing Agency:
PureWest Real Estate Ennis
(406) 995-2404
Listed By:
EJ Daws
(406) 589-6247
Source:
Outlaw
Added: Jun 17
Changed: Sep 7
Last Checked: Sep 7 at 5:50AM
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 PureWest Real Estate Ennis
Investment Insights
Based on property information with market context.
This fully leased investment property includes a multi-unit flex/industrial building with eighteen units. The offering features an established rental history and a strong tenant mix. Most units are approximately 2,300 RSF, creating an efficient size profile for a range of users.
The property is located just north of the Baxter intersection with Jackrabbit visibility. Average daily traffic on this section of Jackrabbit is reported to be over 20,000.
With eighteen separately leased units, the building provides a diversified in-place income stream within a flex/industrial configuration.
The property is located just north of the Baxter intersection with Jackrabbit visibility. Average daily traffic on this section of Jackrabbit is reported to be over 20,000.
With eighteen separately leased units, the building provides a diversified in-place income stream within a flex/industrial configuration.
Key Highlights
- 2018‑built, fully leased investment property
- 18‑unit flex/industrial building with established rental history
- Average daily traffic over 20,000 on this section of Jackrabbit
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
$521,277
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
5.61%
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%
$10,425,540
$10.4M
Cap Rate 7%
$7,446,814
$7.4M
Cap Rate 9%
$5,791,967
$5.8M
Market Conditions
NOI Build-Up for 42,846 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
$858.6K $20.04/SF
− Vacancy
−$56.7K −$1.32/SF
EGI
$802.0K $18.72/SF
− OpEx
−$280.7K −$6.55/SF
NOI
$521.3K $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%
$10,425,540
Cap Rate 7%
$7,446,814
Cap Rate 9%
$5,791,967
Alternative Uses
Best Use
Flex RnD
$7.45M
$6.52M – $8.69M
NOI $521,277 @ 7.0% cap · market cap 5.61%
Second Best
Industrial
$6.36M
$5.56M – $7.42M
NOI $444,934 @ 7.0% cap · market cap 4.78%
Theoretical Best
Office A
$11.19M
$9.79M – $13.05M
NOI $783,156 @ 7.0% cap · market cap 8.42%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
75
Businesses Nearby
Well-served
Demand for This Use
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.
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Frequently Asked Questions
What type of property is this?
Flex space - Fully leased flex/industrial property with 18 units and an established rental history.
Where is this flex space located?
The property is located at 96 Laura Louise Lane Bozeman, MT.
What is the asking price?
The asking price for this property is $9,300,000.
What are key features of this property?
This property features: 2018‑built, fully leased investment property; 18‑unit flex/industrial building with established rental history; Average daily traffic over 20,000 on this section of Jackrabbit
