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Property profile & analytics
OFF-MARKET
Mobile home & RV parks
5655 Shepherd Rd Shepherd, MT 59079
Individually Owned
6-yr Hold
Free & Clear
Property ID
US52-0019435
Property summary
AI-generated overview
Exceptional investment opportunity: the Mustang Event Center & Dry Campground, a mixed-use property situated on 9.296 acres in Shepherd, Montana, near Billings and Yellowstone National Park's Northeast Entrance. This property, completed in 2022, offers a unique blend of recreational and residential potential. The event center and campground are nearing completion, projected to open in 2024, addressing the high demand for affordable outdoor recreation facilities in this stunning area of Montana. The location provides easy access to numerous attractions, including the Bighorn River, Custer's Battlefield, and the scenic Beartooth Highway, offering breathtaking views and outdoor adventures. The property also includes a desirable homesite, perfect for building a private residence, combining the benefits of a personal estate with the income potential of the established event center and campground. This is a rare chance to own a thriving business in a picturesque and rapidly growing area. The asking price is $1,750,000. The property consists of one unit.
Property profile
Verified
Property type
Mobile home & RV parks
Use group
MOBILE HOME PARK, TRAILER PARK
Year built
2022
Construction
WOOD
Total area
394 SF
Lot
9.3 ac (404,934 SF)
APN
03-1134-02-3-01-05-0000
UPID
US52-0019435
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
by Request
Owner & transaction history
Ole Lunder · 6 yrs held
Ole Lunder
since 2019
1 recorded transaction
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Shepherd submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Shepherd submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
CAP Approach
Comparable Approach
Alternative Use
Get a detailed, property-specific estimation — fast and free
Price per SF
Sale + rent benchmarks
Subject property
—
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$1,950
Tax year 2023
Assessed value
$166,437
Assessed 2023
Previous assessed
$166,437
+0.0% YoY
Effective rate
1.17%
On assessed value
Land market value
$117,597
Improvement market value
$48,840
Total market value
$166,437
Applied tax rate
985.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Mobile home & RV parks
Use group
MOBILE HOME PARK, TRAILER PARK
Status
Off-Market
Year built
2022
Construction
WOOD
Heating
YES
Stories
1
Total area
394 SF
Lot
9.3 ac (404,934 SF)
APN
03-1134-02-3-01-05-0000
UPID
US52-0019435
Jurisdiction
YELLOWSTONE
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Building & site characteristics
From public records
Year built
2022
Construction
WOOD
Heating
YES
Stories
1
Lot
9.3 ac
Current owner
From public records · entity-resolved
Ole Lunder
Individual
Free & Clear · 6 yrs held
Mailing address
PO BOX 2222, BILLINGS, MT 59103-2222
Ownership since
2019
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Oct 22, 2019
—
Ole Lunder
Kitt Donald & Alice Trust
Grant Deed
related
—
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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