Property Details for 27 Progressive Dr

Year built

2017

Lot size

3.00 lot acres

Property size

2,600 SF

Property type

Distribution centers

APN

RFG54506

Description

This exceptional three-acre commercial property in Belgrade, Montana, presents a compelling investment opportunity. The property boasts a 1,500 square foot steel warehouse featuring an 18-foot clear span ceiling, two 14' x 12' grade-level doors, and an integrated office, bathroom, and mechanical room. Above the warehouse is a one-bedroom, one-bathroom apartment. A separate one-bedroom, one-bathroom tiny house, with a proven rental history, adds to the property's income potential. The warehouse is situated on a three-acre lot, with approximately 2.5 acres of surplus land, already equipped with utilities. The property benefits from three-phase power, natural gas, propane, a private well, an on-site septic system, and two water hydrants. A fully enclosed barnwood fence enhances security and privacy. The property's strategic location near Interstate 90 and Bozeman Yellowstone International Airport makes it ideal for a variety of commercial uses. The asking price reflects a 7% capitalization rate for the existing structures and a land value of $7.35 per square foot for the surplus land. This property is perfect for owner-users, tenants requiring ample secure yard space, or developers seeking expansion opportunities. The property includes two buildings, two stories, and three units, built in 2017. The total square footage is 2,600, with 2,700 net rentable square feet. The asking price is $1,500,000, with a price per unit of $500,000 and a price per square foot of $576.92. The pro-forma NOI is $42,630, resulting in a pro-forma cap rate of 2.84%. The property is classified as Class B, with a multi-tenant lease type (NNN). The APN is RFG54506.

Location Insight

City

Belgrade

County

Gallatin

State

Montana

Longitude

-111.1138807

Latitude

45.7774169