Industrial Flex Unit with
For Sale
$529,000
D-22 W Haley Springs Rd, Bozeman, MT 59718
Versatile industrial/warehouse unit includes a drive-in overhead door, office space, and mezzanine storage.
Property Size1,785 SF
Price / SF$296.36
Days on Market189
Property Features for D-22 W Haley Springs Rd
General Information
Standard status
Active
Size
1,785 SF
Additional Details
Drive-In Doors
1
Taxes and HOA fees
Annual Taxes
$1,362
Listing Agency:
Starner Commercial Real Estate
(406) 586-0302
Listed By:
Sunny Odegard · License #BRO-63608
(406) 570-4931
Source:
Exprealty
Added: Mar 3
Changed: Sep 3
Last Checked: Sep 7 at 4:31PM
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 Starner Commercial Real Estate
Investment Insights
Based on property information with market context.
This industrial/warehouse flex unit offers a versatile interior layout with functional office space. Unit D includes a large overhead drive-in door, generous ceiling height, one full bathroom, and mezzanine storage designed for additional organization.
Located in Bozeman’s Woodlands Park area, the property provides convenient access to downtown Bozeman and Four Corners, with proximity to complementary businesses.
Ideal for an owner-user or investor seeking a flexible small-bay commercial space, the unit’s mix of warehouse area, office, and mezzanine supports a range of light industrial and storage-oriented uses.
Located in Bozeman’s Woodlands Park area, the property provides convenient access to downtown Bozeman and Four Corners, with proximity to complementary businesses.
Ideal for an owner-user or investor seeking a flexible small-bay commercial space, the unit’s mix of warehouse area, office, and mezzanine supports a range of light industrial and storage-oriented uses.
Key Highlights
- Spacious 1,785 ± SF industrial/warehouse unit in Bozeman’s Woodlands Park area (Unit D)
- Includes a large overhead drive‑in door for easy loading and unloading
- Generous ceiling height for warehouse functionality
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
$22,508
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
4.25%
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%
$450,160
$450.2K
Cap Rate 7%
$321,543
$321.5K
Cap Rate 9%
$250,089
$250.1K
Market Conditions
NOI Build-Up for 1,785 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
$26.8K $15.00/SF
− Vacancy
−$295 −$0.17/SF
EGI
$26.5K $14.83/SF
− OpEx
−$4.0K −$2.23/SF
NOI
$22.5K $12.61/SF
Area
Gallatin County, MT
Vacancy
1.10%
Lease Rate
$15.00 /SF/Yr
Expense Ratio
15.00%
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%
$450,160
Cap Rate 7%
$321,543
Cap Rate 9%
$250,089
Alternative Uses
Best Use
Warehouse
$321.5K
$281.4K – $375.1K
NOI $22,508 @ 7.0% cap · market cap 4.25%
Second Best
Flex RnD
$310.2K
$271.5K – $362.0K
NOI $21,717 @ 7.0% cap · market cap 4.11%
Theoretical Best
Office A
$466.1K
$407.8K – $543.8K
NOI $32,627 @ 7.0% cap · market cap 6.17%
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
145
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
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Similar Off Market Nearby
- The People's Sandwich — parking, 8488 huffine ln, bozeman, mt 59718
Frequently Asked Questions
What type of property is this?
Flex space - Versatile industrial/warehouse unit includes a drive-in overhead door, office space, and mezzanine storage.
Where is this flex space located?
The property is located at D-22 W Haley Springs Rd Bozeman, MT.
What is the asking price?
The asking price for this property is $529,000.
What are key features of this property?
This property features: Spacious 1,785 ± SF industrial/warehouse unit in Bozeman’s Woodlands Park area (Unit D); Includes a large overhead drive‑in door for easy loading and unloading; Generous ceiling height for warehouse functionality
