Can You Use Your Short Term Rental for a 1031 Exchange?
If you own a short-term rental property in Montana, you might be aware of recent discussions regarding the prohibition of certain types of short term rentals (STRs) in residential neighborhoods of Bozeman. Similar regulations are being considered in Missoula too. The issue will involve an interpretation of the zoning code, likely leading to legal […]
Risky Business | 3 Options To Make A Property Use Legal
You’ve found an ideal property – the right location, the perfect building, and even a warehouse for storage, all within your budget. But there’s a snag: your broker informs you that your business isn’t permitted under the current zoning. In a less competitive market, you’d simply look for another property. However, in a tight market, […]
Don’t Go Bust in a Boomtown
When it comes to developing and investing in commercial real estate, having the ability to predict the future would be a tremendous advantage. Unfortunately, the crystal ball we acquired from Amazon.com doesn’t cover Montana’s commercial real estate market. The fundamental factor influencing the value of commercial real estate is the equilibrium of supply and […]
Five Things Your Broker Wants You to Know | Finding Space
Finding a new location for your business can be an exciting proposition. Like buying a house, you’ll discuss your needs with a skilled broker. You will tour buildings, laugh at bad paint and carpet, pick up some design ideas, and hone in on the best location. You will put in a competitive offer, and *boom* […]
4 Ways to Keep Land Deals From Dying
“You name the price, but I’ll name the terms.” It wasn’t long ago that developers would snap up land on short escrows, with a 60-90 day due diligence, and close before they had approvals in hand. From 2020 through 2022, hot markets like Missoula, Bozeman, and Kalispell, Montana had manic levels of demand for developable […]
Big Changes in Bozeman’s Housing Market
Bozeman’s multifamily vacancy rate inched its way over 7% in the 3rd quarter of 2023. Vacancy rates will likely continue to rise as 1,476 units are under construction in the market. Rents are dropping and concessions are picking up, as the market shifts from a landlord’s market to a renter’s market. Vacancy The vacancy […]
5 Reasons RV & Boat Storage is Heating Up
You may be worried that the demand for Boat/RV Storage will dwindle as the market cools, but below are a few reasons the boat/RV storage industry remains so bullish on its success moving forward: 1. One out of every 12 vehicle-owning households has an RV or conversion vehicle (If the head of the household […]
How To Correctly Measure Your Commercial Space
One of the first steps in listing a property for lease or sale is determining the true size of the space. So how do you accurately measure a commercial real estate space? This can often be much more complicated than it seems, particularly in a multi-tenant building or in older buildings that have been renovated […]
Three Data Types to Make Profitable Deals
Commercial real estate professionals have access to a lot of data. A piece of data like a vacancy rate or a closing price can be helpful. It’s a nugget of information that can be used to create a bigger picture. Our goal at SterlingCRE is to help our clients make well-informed decisions. Our research team […]
Rise Of The Bozeman Industrial Market: Key Trends And Insights
Bozeman’s industrial market has seen a small bump in vacancy rates, according to a report from the Sterling Commercial Real Estate Advisors research team. In the first half of 2023, the industrial vacancy rate in Bozeman rose to 2.65%. This is a 2.25% rise from the same period the previous year. However, 2.65% is a […]
