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    229 2Nd Ave SE Cut Bank, MT 59427
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    229 2Nd Ave SE Cut Bank, MT 59427

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    • Garden apartment buildings
    • 3,600 SF
    • 0.92 lot acres
    For Sale
    $2,995,000
    View Listing →
    Cut Bank Multifamily Investment Opportunity For Sale
    $2,995,000
    0.92 Acres

    Cut Bank Multifamily Investment Opportunity

    35-unit apartment complex in Cut Bank, Montana with recent renovations.

    229 2nd Avenue SE, Cut Bank, MT 59427
    View Listing
    Property ID
    US52-0822076
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Garden apartment buildings

    Property Details for 229 2Nd Ave SE

    Year built
    1948
    Construction
    WOOD
    Lot size
    0.92 lot acres
    Property size
    3,600 SF
    Zone code
    1
    Property type
    Garden apartment buildings
    APN
    38-4529-12-2-15-14-0000
    APU
    38452912215140000

    Description

    This exceptional investment opportunity presents a 34-unit apartment complex in Cut Bank, Montana, situated on a 0.916-acre lot at 229 2nd Avenue SE, zip code 59427. Currently boasting 99% occupancy with a waiting list, this property offers significant potential for increased revenue. The seller projects a 9.8% capitalization rate for 2023, with expectations of higher returns in 2024. The complex features convenient amenities including two coin-operated laundries, ample on and off-street parking, a fenced playground, dog run, outdoor games (ping pong, horseshoes, BBQs), and designated smoking areas. Security is enhanced by a security entry system and a comprehensive video surveillance system. Recent and ongoing improvements include a new digital fire detection system, updated window screens, and unit renovations during tenant turnover. The property's low-maintenance exterior is constructed of stucco, masonry, and brick. An adjacent lot offers the potential to expand the complex by an additional 16 units. Tenants utilize a self-service kiosk in the lobby for rent payments. This centrally located property presents a compelling investment opportunity with strong cash flow and significant upside potential.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific estimation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Cut Bank
    County
    Glacier
    State
    Montana
    Longitude
    -112.334
    Latitude
    48.6317

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $17,350
    $0.00
    $0.00
    $1,404,220
    -
    $30,030
    $1,374,190
    $1,404,220

    Comparable in this City

    • Value Estimation by Request
      4,104 SF

      26 1st SE Ave

      GARDEN APT, COURT APT (5+ UNITS) • 4,104 SF
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      View Details
    • Value Estimation by Request
      18,062 SF

      33 1st SE Ave

      GARDEN APT, COURT APT (5+ UNITS) • 18,062 SF
      33 1st SE Ave, Cut Bank, MT 59427-2957
      View Details
    • Value Estimation by Request
      3,600 SF

      17 Main St

      GARDEN APT, COURT APT (5+ UNITS) • 3,600 SF
      17 Main St, Cut Bank, MT 59427
      View Details
    • Value Estimation by Request
      6,528 SF

      520 2nd SW St

      GARDEN APT, COURT APT (5+ UNITS) • 6,528 SF
      520 2nd SW St, Cut Bank, MT 59427-3244
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    • Value Estimation by Request
      4,422 SF

      1100 1st SE St

      GARDEN APT, COURT APT (5+ UNITS) • 4,422 SF
      1100 1st SE St, Cut Bank, MT 59427-3137
      View Details
    • Value Estimation by Request
      4,480 SF

      338 1st SW Ave

      GARDEN APT, COURT APT (5+ UNITS) • 4,480 SF
      338 1st SW Ave, Cut Bank, MT 59427
      View Details

    Similar Nearby for Sale

    • $2,995,000
      0.92 Acres

      Cut Bank Multifamily Investment Opportunity

      35-unit apartment complex in Cut Bank, Montana with recent renovations.
      229 2Nd Ave SE, Cut Bank, MT 59427
      View Details
    • $400,000
      3,924 SF

      13 W Main Street, Cut Bank, MT 59427

      Breakfast & diners • 3,924 SF
      13 W Main St, Cut Bank, MT 59427
      View Details
    • $2,995,000
      0.92 Acres

      Renovated Apartment Building in Montana

      35-unit apartment building with comprehensive renovations and high rental demand.
      229 2Nd Ave SE, Cut Bank, MT 59427
      View Details
    • $400,000

      Historic Cafe with Updated Apartments

      Established cafe with two updated apartments in growing community.
      13 W Main St, Cut Bank, MT 59427
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    • $39,950

      Montana Residential Land - Cut Bank

      6,900 sq ft lot, new utilities
      0 Nhn Vogt Subd, Fort Piegan, MT 59427
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    • $39,950

      Build Your Dream Home in Montana!

      6,900 sq ft Residential Lot in Cut Bank
      0 Nhn Vogt Subd, Fort Piegan, MT 59427
      View Details
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    Cut Bank, MT 59427
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    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.

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