Commercial Condo with
For Sale
$249,000
A4-211 Jetway Dr, Belgrade, MT 59714
Condo features an upper-level office, a 39' x 14' shop, and an east-facing deck for mountain views.
Property Size1,600 SF
Price / SF$155.63
Days on Market73
Property Features for A4-211 Jetway Dr
General Information
Standard status
Active
Size
1,600 SF
Additional Details
Drive-In Doors
1
Taxes and HOA fees
Annual Taxes
$1,601
Listing Agency:
Bozeman Real Estate Group
(406) 587-1717
Listed By:
Nancy Stevenson · License #RBS-14486
(406) 580-1450
Source:
Exprealty
Added: Jun 25
Changed: Sep 2
Last Checked: Sep 4 at 1:39PM
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 Bozeman Real Estate Group
Investment Insights
Based on property information with market context.
This commercial condo combines a functional workspace with practical storage and access. An upper-level office is designed to take advantage of natural light and mountain views, while a 39' x 14' shop provides flexible room for a range of commercial uses. An east-facing deck offers a spot to enjoy the scenery, and a 12' x 10" garage door supports straightforward entry for vehicles, trailers, campers, and work items.
Located at A4-211 Jetway Dr in Belgrade, MT, the property is described as being near the airport, offering convenient travel and proximity to area amenities while maintaining a quieter, view-oriented setting.
The overall configuration supports both office-oriented work and shop/storage functionality, making it well-suited to a versatile live-work style setup as described in the listing materials.
Located at A4-211 Jetway Dr in Belgrade, MT, the property is described as being near the airport, offering convenient travel and proximity to area amenities while maintaining a quieter, view-oriented setting.
The overall configuration supports both office-oriented work and shop/storage functionality, making it well-suited to a versatile live-work style setup as described in the listing materials.
Key Highlights
- Commercial condo with an upper‑level office space
- 39' x 14' shop suited for commercial uses
- East‑facing deck with Bridger Mountains views
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
$22,008
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
8.84%
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%
$440,160
$440.2K
Cap Rate 7%
$314,400
$314.4K
Cap Rate 9%
$244,533
$244.5K
Market Conditions
NOI Build-Up for 1,600 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
$38.4K $24.00/SF
− Vacancy
−$3.2K −$1.99/SF
EGI
$35.2K $22.01/SF
− OpEx
−$13.2K −$8.25/SF
NOI
$22.0K $13.76/SF
Area
Gallatin County, MT
Vacancy
8.30%
Lease Rate
$24.00 /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%
$440,160
Cap Rate 7%
$314,400
Cap Rate 9%
$244,533
Alternative Uses
Best Use
Office B
$336.2K
$294.2K – $392.3K
NOI $23,537 @ 7.0% cap · market cap 9.45%
Second Best
Mixed Use
$314.4K
$275.1K – $366.8K
NOI $22,008 @ 7.0% cap · market cap 8.84%
Theoretical Best
Office A
$417.8K
$365.6K – $487.4K
NOI $29,245 @ 7.0% cap · market cap 11.74%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
1
Drive-in doors
Location Intelligence
Trade Area within ½ mile
88
Businesses Nearby
Explore this area
Business Placement
Demographics for 59714, MT
22,333
Population
10,043
Households
2.2
Avg Household Size
35
Median Age
37%
College-Educated
97%
High-School Grad
418.2 sq mi
ZIP Area
53
Density / Sq Mi
$89,217
Median Household Income
$47,587
Median Earnings
$1,558
Median Rent
$490,000
Median Home Value
Market
Vacancy Rate% for Office in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Live-work space - Condo features an upper-level office, a 39' x 14' shop, and an east-facing deck for mountain views.
Where is this live-work space located?
The property is located at A4-211 Jetway Dr Belgrade, MT.
What is the asking price?
The asking price for this property is $249,000.
What are key features of this property?
This property features: Commercial condo with an upper‑level office space; 39' x 14' shop suited for commercial uses; East‑facing deck with Bridger Mountains views
