Warehouse Condo Unit For
For Sale
Contact for pricing
9442 Sanctuary Ests Dr #11, Billings, MT 59101
Warehouse condo unit featuring bathroom, insulation, heating, well, and septic.
Property Size3,125 SF
Price / SF$141.21
Days on Market1044
Property Features for 9442 Sanctuary Ests Dr #11
General Information
Standard status
Active
Size
3,125 SF
Class
A
Property subtype
Industrial, Mixed Use
Zoning
Outside City Limits
Lease Type
NNN
Building Details
Year Built
2023
Buildings
1
Stories
1
Tenancy
Single
Listing Agency:
NAI Business Properties
(406) 294-6303
Listed By:
Brian McDonald · License #MT RRE-BRO-LIC-12627
Source:
Crexi
Added: Oct 13, 2023
Changed: Aug 8
Last Checked: Aug 20 at 12:28AM
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 NAI Business Properties
Investment Insights
Based on property information with market context.
A warehouse condo unit is available for sale. The unit features a walk door, bathroom, full insulation with liner panel on the walls extending to the ceiling, and heating provided by a gas forced air unit. It also includes a well and septic system. The property size is 3125 square feet.
Key Highlights
- New construction completed in 2023
- Benefit from full insulation with liner panel, extending from walls to ceiling
- Heating provided by a gas forced air unit
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
$30,188
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
6.84%
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%
$603,760
$603.8K
Cap Rate 7%
$431,257
$431.3K
Cap Rate 9%
$335,422
$335.4K
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
$52.5K $16.80/SF
− Vacancy
−$4.2K −$1.34/SF
EGI
$48.3K $15.46/SF
− OpEx
−$18.1K −$5.80/SF
NOI
$30.2K $9.66/SF
Area
Billings, MT
Vacancy
8.00%
Lease Rate
$16.80 /SF/Yr
Expense Ratio
37.50%
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%
$603,760
Cap Rate 7%
$431,257
Cap Rate 9%
$335,422
Alternative Uses
Best Use
Mixed Use
$431.3K
$377.4K – $503.1K
NOI $30,188 @ 7.0% cap · market cap 6.84%
Second Best
Warehouse
$291.7K
$255.2K – $340.3K
NOI $20,416 @ 7.0% cap · market cap 4.63%
Theoretical Best
Office A
$681.9K
$596.6K – $795.5K
NOI $47,730 @ 7.0% cap · market cap 10.82%
Zoning and permitted uses should be independently verified with authorities.
Property 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
Market
Vacancy Rate% for Industrial in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Warehouse - Warehouse condo unit featuring bathroom, insulation, heating, well, and septic.
Where is this warehouse located?
The property is located at 9442 Sanctuary Ests Dr #11 Billings, MT.
What is the asking price?
The asking price for this property is $441,280.
What are key features of this property?
This property features: New construction completed in 2023; Benefit from full insulation with liner panel, extending from walls to ceiling; Heating provided by a gas forced air unit
