Add Listing
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    2388 Shorthorn Ave Helena, MT 59602
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    2388 Shorthorn Ave Helena, MT 59602

    View on Map
    • Commercial real estate
    • 2.11 lot acres
    For Sale
    $7,500,000
    View Listing →
    Helena Condo Development Opportunity For Sale
    $7,500,000

    Helena Condo Development Opportunity

    75-Unit Condo Project, High ROI Potential

    2388 Shorthorn Ave, Helena, MT 59602
    View Listing
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Commercial real estate

    Property Details for 2388 Shorthorn Ave

    Year built
    2024
    Lot size
    2.11 lot acres
    Property type
    Commercial real estate

    Description

    This exceptional 75-unit condominium development presents a lucrative investment opportunity in Helena, Montana. Currently featuring 12 completed, income-generating two-bedroom units, this project is fully entitled for an additional 63 units, all with in-unit laundry hookups. The attractive triplex layout of each unit ensures comfort and style, appealing to a wide range of tenants. Situated on a 2.11-acre lot at 2388 Shorthorn Avenue, the property benefits from a prime location near shopping, interstate access, and recreational amenities. The existing 12 units provide immediate cash flow while the remaining units are developed, maximizing return on investment. This turnkey project offers a unique chance to capitalize on the strong Helena real estate market and the high demand for quality rental housing. The development is fully permitted and ready for immediate expansion, offering a streamlined path to completion. The existing units are in new condition and recently placed on the rental market. This is a rare opportunity to acquire a substantial, high-potential multi-family development in a desirable location. The project's strategic location and well-designed units promise strong occupancy rates and consistent rental income. The existing infrastructure and fully approved plans minimize development risk and accelerate the path to profitability. This is an ideal investment for those seeking a high-yield, low-risk opportunity in the thriving Helena market. The asking price is $7,500,000.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Helena
    County
    Lewis and Clark
    State
    Montana
    Longitude
    -111.997
    Latitude
    46.6177

    Comparable in this City

    • Value Estimation by Request
      1.56 Acres

      3105 Smitty Ct

      Land • 1.56 Acres
      3105 Smitty Ct, Helena, MT 59602
      View Details
    • Value Estimation by Request
      46.31 Acres

      7-8 Turk Rd

      Land • 46.31 Acres
      7-8 Turk Rd, Helena, MT 59602
      View Details
    • Value Estimation by Request
      8.25 Acres

      4070 Woodridge Trl

      Land • 8.25 Acres
      4070 Woodridge Trl, Helena, MT 59602
      View Details
    • Value Estimation by Request
      0.92 Acres

      987 Ml Rd

      COMMERCIAL (GENERAL) • 0.92 Acres
      987 Ml Rd, Helena, MT 59602-7071
      View Details
    • Value Estimation by Request
      3,400 SF

      2301 Wilder Ave

      SHOW ROOM, WAREHOUSE • 3,400 SF
      2301 Wilder Ave, Helena, MT 59602-1407
      View Details
    • Value Estimation by Request
      5,000 SF

      Helena, MT 59602

      SHOW ROOM, WAREHOUSE • 5,000 SF
      Helena, MT 59602
      View Details

    Similar Nearby for Sale

    • $7,500,000
      2.11 Acres

      Helena Condo Development Opportunity

      75-Unit Condo Project, High ROI Potential
      2388 Shorthorn Ave, Helena, MT 59602
      View Details
    • $350,000
      2,304 SF

      Helena Office Condo - Great Location!

      Remodeled office space, ample parking, ideal for various uses.
      8185 Avocet Dr, Helena, MT 59602
      View Details
    • $650,000
      30.00 Acres

      Helena Irrigated Land Parcel

      30-acre irrigated land parcel with building site near Helena.
      5820 Ferry Dr, Helena, MT 59602
      View Details
    • Contact for pricing

      Montana Land with Creek Access

      Land featuring mountain views, meadow, and Greenhorn Creek.
      7220 Austin Rd, Helena, MT 59602
      View Details
    • Contact for pricing

      Secluded Mountain Property For Sale

      320-acre Montana property with timber, creek, and expansive views.
      320A Turk Rd, Helena, MT 59602
      View Details
    • $298,000
      1.95 Acres

      Residential Land Near Golf Course

      1.95 acre multi-family lot adjacent to Fox Ridge Golf Course.
      4199 Fox Hollow Dr, Helena, MT 59602
      View Details

    Similar Nearby for Lease

    • $18 SF/Yr
      5,880 SF

      Class A Office Space

      5,880 SF Class A office space for lease.
      3390 Colton Dr, Helena, MT 59602
      View Details
    • Contact for pricing

      Retail Space in Helena, MT

      Retail space available in high-traffic, nationally tenanted center.
      3315 N Montana Ave, Helena, MT 59602
      View Details
    • Contact for pricing
      5,000 SF

      Retail Space in Target Anchored Center

      Retail space available in high-traffic Helena shopping center.
      3303-3405 N Montana Ave, Helena, MT 59602
      View Details
    • $2,200 /Mo
      146 SF

      East Valley Private Office Space

      Comfortable office space in a growing east valley location.
      3156 Tancy Dr, Helena, MT 59602
      View Details
    • $13 SF/Yr

      Retail Space in Northside Center

      Former Joann location in Helena's Northside Shopping Center.
      3131 N Montana Ave, Helena, MT 59602
      View Details
    • $144 SF/Yr
      3,237 SF

      Helena Office Space - River Rock Drive

      Prime Helena office, 3,237 sq ft, ample parking.
      754 River Rock Dr 102, Helena, MT 59602
      View Details
    View Listing
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    2388 Shorthorn Ave
    Helena, MT 59602
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!