Auto Garage Condominium
For Sale
$595,000
TBD Leader Lane EB11, Bozeman, MT 59718
Commercial Sale, Other - Bozeman, MT
Property Size1,335 SF
Price / SF$445.69
Days on Market62
Property Features for TBD Leader Lane EB11
General Information
Property type
Commercial Sale
Property subtype
Condominium
Zoning
C
Bathrooms
1
Full bathrooms
1
Rooms
Bathroom 1
Parking features
Assigned, Covered, Garage, Paved or Surfaced
EntryLevel
EB11
Subdivision
Panther Park
Directions
From Belgrade, drive South on Jackrabbit to E Valley Center Rd, Left on Valley Center Rd, Left on Walleye Rd, Right on Streamer Lane, Left to Leader Lane.
Standard status
Active
APN
RFF87250
Size
1,335 SF
Utilities
Heating system
Electric (Heating), Forced Air, Heat Pump (Heating)
Cooling system
Central Air, Multi Units, Wall/Window Unit(s), Window Unit(s)
Building Details
Year built
2026
Architectural style
Other
Builder Name
Langlas/NVS
Listing Agency:
Engel & Völkers Bozeman
(406) 404-1960
Listed By:
PollyAnna Snyder
(406) 600-2477
Added: Jun 12
Changed: Jul 15
Last Checked: Aug 12 at 3:06AM
MLS# 408489
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.
EVESO is a for-sale auto garage condominium community designed around individually titled garage units within a multi-vehicle compound. The property is described as offering specialized garage condos with space for lifts and workshop use, along with owners’ access to a Members’ Club & Lounge and shared common areas.
According to the provided materials, units are engineered for ceiling heights in the 17–22 foot range and include integrated mezzanine levels (per plan). Building features listed for the garages include commercial garage doors, 150-amp individually metered electrical service, finished restrooms, finished flooring with internal floor drains, high-efficiency LED lighting, and a fire suppression system. Additional onsite services referenced include a vehicle maintenance and detailing facility, asset management, and logistic concierge/support.
Each unit is titled real estate with individual mailing address and mailbox access onsite. The environment is described as secure and climate-controlled with 24/7 access.
According to the provided materials, units are engineered for ceiling heights in the 17–22 foot range and include integrated mezzanine levels (per plan). Building features listed for the garages include commercial garage doors, 150-amp individually metered electrical service, finished restrooms, finished flooring with internal floor drains, high-efficiency LED lighting, and a fire suppression system. Additional onsite services referenced include a vehicle maintenance and detailing facility, asset management, and logistic concierge/support.
Each unit is titled real estate with individual mailing address and mailbox access onsite. The environment is described as secure and climate-controlled with 24/7 access.
Key Highlights
- Exclusive, deeded garage condominium community for collectors and enthusiasts.
- Individually owned, specialized garage condos protect and showcase prized vehicles.
- Customizable interiors with high ceilings and mezzanine levels** for lifts, workshops, or lounges.
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
$16,834
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
2.83%
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%
$336,680
$336.7K
Cap Rate 7%
$240,486
$240.5K
Cap Rate 9%
$187,044
$187.0K
Market Conditions
NOI Build-Up for 1,335 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
$20.0K $15.00/SF
− Vacancy
−$220 −$0.17/SF
EGI
$19.8K $14.83/SF
− OpEx
−$3.0K −$2.23/SF
NOI
$16.8K $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%
$336,680
Cap Rate 7%
$240,486
Cap Rate 9%
$187,044
Alternative Uses
Best Use
Warehouse
$240.5K
$210.4K – $280.6K
NOI $16,834 @ 7.0% cap · market cap 2.83%
Second Best
Flex RnD
$232.0K
$203.0K – $270.7K
NOI $16,242 @ 7.0% cap · market cap 2.73%
Theoretical Best
Office A
$348.6K
$305.0K – $406.7K
NOI $24,402 @ 7.0% cap · market cap 4.10%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
22 ft
Clear height
Single-tenant
Tenancy
Turnkey business
Opportunity
Yes
Heavy power
Yes
Sprinkler system
Location Intelligence
Trade Area within ½ mile
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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Frequently Asked Questions
What type of property is this?
Self storage facility - For-sale garage condominium with integrated mezzanine options, individual electrical metering, and private 24/7 access.
Where is this self storage facility located?
The property is located at TBD Leader Lane EB11 Bozeman, MT.
What is the asking price?
The asking price for this property is $595,000.
What are key features of this property?
This property features: Exclusive, deeded garage condominium community for collectors and enthusiasts.; Individually owned, specialized garage condos protect and showcase prized vehicles.; Customizable interiors with high ceilings and mezzanine levels** for lifts, workshops, or lounges.
