Climate-Controlled Garage
New
For Sale
$795,000
TBD Leader Lane EB10, Bozeman, MT 59718
Bozeman, MT
Property Size2,000 SF
Price / SF$397.50
Days on Market5
Property Features for TBD Leader Lane EB10
General Information
Property type
Commercial Sale
Property subtype
Condominium
Bathrooms
1
Full bathrooms
1
Subdivision
Panther Park
Standard status
Active
Size
2,000 SF
Amenities
Members' Clubhouse, Lounge & Shared Common Areas
Vehicle maintenance & detailing facility
Asset Management
Logistic Concierge
Building Details
Year built
2026
Listing Agency:
Engel & Volkers Bozeman · Engel & Völkers
(406) 404-1960
Listed By:
PollyAnna Snyder
(406) 600-2477
Added: Sep 28
Changed: Sep 29
Last Checked: Oct 2 at 7:06AM
MLS# 408482
Copyright © 2026 Engel & Völkers. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 2,000-square-foot garage condominium is individually titled and designed for vehicle and equipment storage, with room for customizable interiors. Ceiling heights range from 17 to 22 feet, and integrated mezzanines are included according to plan. Building features include commercial garage doors, finished flooring with internal drains, a finished restroom, LED lighting, fire suppression, and climate control. Each unit has 150-amp separately metered electrical service and an individual mailing address with mailbox access.
Owners also have access to a Members’ Club and Lounge, shared common areas, and an on-site maintenance and detailing facility. Additional support includes asset management, storage coordination, seasonal preparation, and logistics concierge services. The property is designed for 24/7 access and is listed with a 2026 year built.
Owners also have access to a Members’ Club and Lounge, shared common areas, and an on-site maintenance and detailing facility. Additional support includes asset management, storage coordination, seasonal preparation, and logistics concierge services. The property is designed for 24/7 access and is listed with a 2026 year built.
Key Highlights
- 2,000 square feet with ceiling heights from 17 to 22 feet
- Individually titled garage condominium with 24/7 access and climate control
- 150‑amp individually metered electrical service
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
$25,220
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
3.17%
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%
$504,400
$504.4K
Cap Rate 7%
$360,286
$360.3K
Cap Rate 9%
$280,222
$280.2K
Market Conditions
NOI Build-Up for 2,000 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
$30.0K $15.00/SF
− Vacancy
−$330 −$0.17/SF
EGI
$29.7K $14.83/SF
− OpEx
−$4.5K −$2.23/SF
NOI
$25.2K $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%
$504,400
Cap Rate 7%
$360,286
Cap Rate 9%
$280,222
Alternative Uses
Best Use
Warehouse
$360.3K
$315.3K – $420.3K
NOI $25,220 @ 7.0% cap · market cap 3.17%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$522.2K
$457.0K – $609.3K
NOI $36,557 @ 7.0% cap · market cap 4.60%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
22 ft
Clear height
Multi-tenant
Tenancy
Yes
Sprinkler system
Location Intelligence
Trade Area within ½ mile
20
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.
Similar Off Market Nearby
- Bobcat Storage — 387 E Valley Center Rd, Bozeman, MT 59718
- Yellowstone Airport Storage — 2904 Alaska Rd S, Bozeman, MT 59718
Frequently Asked Questions
What type of property is this?
Warehouse - Individually titled garage space includes 24/7 access, a finished restroom, and owner-configurable interiors.
Where is this warehouse located?
The property is located at TBD Leader Lane EB10 Bozeman, MT.
What is the asking price?
The asking price for this property is $795,000.
What are key features of this property?
This property features: 2,000 square feet with ceiling heights from 17 to 22 feet; Individually titled garage condominium with 24/7 access and climate control; 150‑amp individually metered electrical service
