For Sale
$1,500,000

27 Progressive DrBelgrade, MT 59714

Three-acre Montana warehouse complex, high ROI.

Overview

Added:
Dec 11, 2024
Days on market:
116
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.

Highlights

  • Excellent Belgrade, MT location near Bozeman Yellowstone International Airport and I-90.
  • Three-acre commercial lot with approximately 2.5 acres of surplus land; utilities available.
  • 1,500 SF steel warehouse with office, bathroom, and mechanical room.
  • Warehouse features 50' x 30' footprint, 18' ceilings, and two 14' x 12' grade-level doors.
  • Includes a 1-bedroom/1-bathroom apartment above the warehouse.
  • Additional 1-bedroom/1-bathroom tiny house with strong rental history.

Property Details for 27 Progressive Dr

Property type
Warehouses, Industrial properties
Square Feet
2,600 SF
Class
B
Year Built
2017
Buildings
2
Stories
2
Lot Size (sq. ft)
130,680 SF
Units
3

Location Insight

City
Belgrade
County
Gallatin
State
Montana
Latitude
45.7774169
Longitude
-111.1138807
27 Progressive Dr, Belgrade, Montana

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27 Progressive Dr
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