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12 Penny Lane — Gallatin Gateway, Montana
Net Leased Showroom & Fabrication Facility
Single Tenant | Purpose Built | Resort Market Exposure
Offered at $10,959,000.
7.25% Cap Rate
Executive Overview
12 Penny Lane offers investors the opportunity to acquire a fully leased, mission critical commercial facility serving Montana’s premier luxury residential construction markets, including Big Sky, Yellowstone Club, Spanish Peaks, and Moonlight Basin. The property is 100% leased to Earth Elements LLC under a newly structured modified NNN lease that delivers durable income, minimal landlord responsibilities, and built in annual rent growth.
Originally purpose built in 2017 with over $4 million in specialized improvements, the facility functions as a destination showroom, fabrication hub, and corporate headquarters. The building’s highly customized nature significantly reduces tenant relocation risk and provides strong long term income security.
Investment Highlights
• 100% Occupied, Single Tenant Asset
New arm’s length lease with established operating tenant
• Strong In Place Cash Flow
Net Operating Income of approximately $900,231
• Modified NNN Lease Structure
Flat $3.00/SF expense recovery with no annual reconciliation
• Annual Rent Growth
3% annual escalations on base rent
• Purpose Built, Non Commodity Real Estate
Irreplaceable showroom and fabrication infrastructure
• High Barrier Resort Market Location
Limited competing inventory for comparable uses
• Replacement Cost Support
Insured building replacement value of $7.29M (exclusive of land)
Property Description
Address: 12 Penny Lane, Gallatin Gateway, MT 59730
Property Type: Commercial — Showroom / Fabrication / Warehouse
Total Rentable Area: 38,563 SF (inside wall measurement)
• Office / Showroom: 14,344 SF
• Warehouse / Fabrication: 24,219 SF
The property features a custom architectural façade, extensive glass storefront exposure, and seven fully built out showroom departments serving architects, designers, and high net worth clientele. The rear fabrication area includes advanced CNC machinery, water jet cutting, overhead crane systems, and loading dock access—creating a vertically integrated operational environment.
#409921

Gallatin Gateway

12 Penny Lane Lane

None Beds

None Baths

38,563 Sq.Ft.

$10,959,000

MLS#: 409921

This extraordinary 146± acre estate is the crown jewel of North Pass Ranches, Bozeman’s premier, gated luxury ranch community. Ideally situated just 15 minutes from downtown Bozeman, this legacy property offers a rare combination of privacy, accessibility, and unmatched natural beauty. As the original founder’s location and the most coveted site within the ranch, it occupies a commanding ridgeline with panoramic views stretching across the Gallatin, Madison, and Tobacco Root ranges, as well as the iconic Absaroka-Beartooths and the sweeping Bozeman valley below.

At the heart of the property lies a masterfully updated 8,000± square foot main residence, designed to inspire. Soaring ceilings up to 31 feet frame expansive living spaces, anchored by a gourmet chef’s kitchen outfitted with top-tier appliances and a dramatic main-level primary suite featuring a spa-caliber en suite bath, oversized walk-in dressing room, and a striking fireplace. Finishes throughout speak to a refined mountain aesthetic—leathered quartzite countertops, reclaimed oak ceiling beams, custom light fixtures, and premium designer details at every turn.

A separate 3,000± square foot guest house includes 4 bedrooms, 3 bathrooms, and an attached two-car garage, offering space for extended family, friends, or on-site staff. Designed for the equestrian enthusiast, the property features a heated 14,560± square foot indoor riding arena with five stalls, two foaling stalls, a tack room, bathroom, kitchen, and ample equipment storage. The grounds include brand-new fencing, multiple pastures, and direct access to miles of private riding and hiking trails that wind throughout North Pass Ranches and into State of Montana land.

Owners within the ranch community enjoy over 9 miles of private trails, stocked fishing ponds, a full-time on-site ranch manager, and shared amenities ideal for gathering, recreation, and solitude alike. Wildlife abounds—moose, elk, deer, and bear are regular visitors—enhancing the deep connection to nature this property offers.

This is more than just the finest location within North Pass Ranches—it’s a rare chance to secure a legacy estate in one of Montana’s most sought-after landscapes. The blend of luxury, land, and location simply has no equal. As an added advantage, Montana has no sales tax, making ownership even more appealing for buyers seeking both an extraordinary lifestyle and meaningful financial efficiency.
#409003

Bozeman

1221 Green Valley Way

4 Beds

3 Baths

8,156 Sq.Ft.

$10,950,000

MLS#: 409003

A Legacy Estate Above It All

Commanding one of the most breathtaking vantage points in Big Sky, 168 Charlie Russell is an exquisitely artisan-crafted, hand-hewn log estate—an offering reserved for those who value privacy, provenance, and permanence. Set within the gated enclave of Big EZ Estates and spanning 20 pristine acres, this is a rare opportunity to acquire a true Montana legacy home with the ability to obtain a golf or ski/social membership at Spanish Peaks Mountain Club.

At 7,434± square feet, the residence captures sweeping, cinematic views of Yellowstone National Park and the Spanish Peaks—where sunrises, moonrises, and alpenglow sunsets become part of daily life.

Designed for both grand entertaining and intimate retreat, the home features five bedrooms, five full baths, and two powder rooms, complemented by six interior fireplaces, an outdoor fireplace, a landscaped fire pit, and a new hot tub for four-season enjoyment. Four private primary suites—each with its own fireplace, outdoor access, and individual climate control—offer hotel-level comfort and exceptional privacy for owners and guests alike. A charming timber-frame bunk room with en-suite bath adds warmth and character for family gatherings.

The main level unfolds with soaring ceilings, a dramatic floor-to-ceiling stone fireplace, expansive living and dining spaces, and a gourmet kitchen outfitted with premium appliances and generous prep areas—ideal for entertaining at scale. An executive office with private deck access sits just off the great room and primary suite, blending productivity with inspiration. The primary suite itself is a sanctuary, featuring a fireplace, spa-like bath, walk-in closet, and private deck overlooking the peaks.

The lower level is dedicated to recreation and relaxation, offering a spacious family room, wet bar, pool table, additional fireplace, and seamless access to outdoor living—where the hot tub and fire pit invite evenings under Montana’s vast sky. A wrap-around deck, multiple patios, and tranquil mountain vistas complete the experience.

With 20 acres of usable land, room for future enhancements, remarkable privacy, and immediate proximity to the world-class amenities of Big Sky, 168 Charlie Russell embodies the very essence of the Big EZ lifestyle. Timeless, irreplaceable, and uncompromising—this is not simply a residence, but a legacy to be stewarded for generations.
#407313

Big Sky

168 Charlie Russell Loop

5 Beds

5 Baths

7,434 Sq.Ft.

$10,950,000

MLS#: 407313

Located in the sought-after Timbers Neighborhood at Moonlight Basin, this 6-bedroom, 5.5-bathroom home offers prime ski-in, ski-out access and is surrounded by mature pines with stunning views from every room. Explore the surrounding wilderness out your back door on skis, bike, or simply on foot. Immaculately maintained and used by only one family, this is the first Timbers home to be available in nearly three years—a rare opportunity. Just minutes from Ulery’s Lake, LakeLodge, and the new One&Only Moonlight Basin, you’ll enjoy convenient access to dining, fitness, pools, hot tubs, steam rooms, and more. A Signature Membership is available with the purchase of this Timbers home.
#398074

Big Sky

4 Diversion Lane

6 Beds

2 Baths

4,950 Sq.Ft.

$10,750,000

MLS#: 398074

Don't miss this investment opportunity! Built in 2018, this 29 unit Multi-Family property features 9 different buildings on 4 parcels. Strong long term rental history with low turnover. Two floor plans/building types. 22 units are 3 bedroom/2.5 bath with 2 car garages. 7 units are 2 bedroom/1bath with 2 car garages. Located adjacent to Taylor Park, creating additional amenities for tenants with walking trails, sports fields, and playgrounds. This is a well maintained property that has minimal deferred maintenance, creating a turn-key investment. Multiple parcels allows for flexibility in the future.
#407849

Manhattan

13 & 14 Moreland Court 101-102,301-305,701-904

None Beds

None Baths

N/A

$10,600,000

MLS#: 407849

Commercial Income Property with Development Upside
Located less than one mile south of the Four Corners intersection along the west side of US Highway 191, this 33,400-square-foot commercial property offers stabilized income, long-term tenancy, and meaningful upside through future development. The property consists of five condominium units situated on 2.777 acres across two parcels—one improved and one vacant—providing a rare combination of current cash flow and entitled expansion potential in one of Bozeman’s strongest commercial corridors.
The asset features approximately 337 feet of frontage on US-191 South, a high-traffic arterial serving Bozeman and the Gallatin Valley. The surrounding market is characterized by sub-3% commercial vacancy, reinforcing the property’s strong leasing fundamentals and long-term demand.
Property Overview
• Address: 81211 & 81213 Gallatin Road, Bozeman, MT 59718
• Property Type: Commercial — Retail, Showroom & Warehouse
• Total Building Size: 33,400 SF (five condo units)
• Land Area: 2.777 acres (two parcels)
• Frontage: 337 feet on US Highway 191 South
• Occupancy: 100% leased

Development Upside
The second parcel is entitled for an additional 11,518-square-foot building, offering immediate development potential along highly visible US-191 frontage. The site is currently vacant and development-ready, subject to verification of current permits and entitlements.

Cap Rate 7.25% Building & 11,518 SqFt Development parcel.
#409918

Bozeman

81211/ 13 Gallatin Road

None Beds

None Baths

33,400 Sq.Ft.

$10,518,000

MLS#: 409918

Well-finished, ±29,724 square foot office building situated on ±3.03 acres at the southern edge of Bozeman. The property is located within Bozeman’s Opportunity Zone, just south of Montana State University. Built in 2000, the building can easily be adapted into a multi-tenant building, though it is currently fully leased to tenants Inhealth Life Sciences, Bozeman Health, and Proper Insurance. Proper Insurance has already committed to taking the Bozeman Health Space in April when they vacate. The building's layout is based on a central core of restrooms, mechanical, elevator, and a stairwell with offices branching north and south, creating four leasable areas around ±7,000 square feet each. The property is nicely landscaped, with ample parking on site.
#384848

Bozeman

40 Enterprise Boulevard

None Beds

None Baths

29,724 Sq.Ft.

$10,500,000

MLS#: 384848

Breathtaking views of the Rocky Mountain Front and Glacier National Park provide a stunning backdrop to this exceptional 2,541-acre ranch located just four miles northwest of the charming farm town of Choteau in north central Montana. This well-maintained property seamlessly blends agricultural productivity with recreational opportunities, featuring a comfortable home and a complete set of barns, shops, and outbuildings that support both ranching operations and country living.  The ranch showcases remarkable diversity across its landscape, encompassing irrigated cropland served by 633 acres of irrigation systems, including pivot and wheel-line equipment, sub-irrigated meadows, native grassland, and lush wetlands. Riparian creek bottoms follow Baker Spring Creek.  Springs throughout the area create exceptional habitat for game birds, waterfowl, and whitetail deer.  This property presents an outstanding opportunity for agricultural operations, recreational pursuits, or conservation-minded ownership in one of Montana’s most scenic agricultural regions.
#403602

Choteau

TBD 89 Highway

3 Beds

2 Baths

4,481 Sq.Ft.

$10,400,000

MLS#: 403602

Surrounded by sweeping views of Trapper Peak and the Sapphire Mountains, this extraordinary 80 acre property at 50 Tippet Trail captures the very best of Montana’s natural beauty and modern luxury. Built in 2024 and designed by Canvas House Design, the 4,496 square foot residence embodies modern sophistication inspired by Montana’s mountain landscape. Sweeping views of Trapper Peak and the Sapphire Mountains frame the property, creating a perfect balance of contemporary elegance and timeless rustic charm. Inside, soaring ceilings and expansive windows fill the home with natural light and capture the breathtaking scenery. The vaulted great room, anchored by a dramatic stone fireplace, opens into a beautiful sunroom that invites the outdoors in. Custom millwork, solid oak doors, and radiant floor heating throughout the lower level add warmth, character, and craftsmanship to every space. Additional amenities include a 2,460 square foot barn, a greenhouse, and a garden shed. A half-acre enclosed garden features irrigated raised beds and mature pear and apple trees, offering both productivity and charm. Outdoor living is exceptional, with three expansive patios designed to capture both the morning sun and the warm glow of Montana evenings. A heated terrace with a saltwater spa, firepit, and built-in Delta Heat grill and Le Griddle allows for year-round enjoyment. A private trail system weaves through the acreage, leading to a three-acre pond with a sandy beach, two docks, and private access to fishing along the Bitterroot River. Mature trees, curated landscaping, and regular visits from elk, deer, moose, and eagles enhance the estate’s natural beauty. Just five miles north, the town of Darby provides Western character, local dining, and a world-class rodeo. Twenty miles away, the exclusive Stock Farm Club and the vibrant town of Hamilton offer fine dining, golf, shops, and a strong community atmosphere. Outdoor recreation is equally accessible, with Lost Trail Ski Area just 30 miles to the south. Missoula International Airport is approximately 65 miles away, providing convenient travel while preserving the estate’s peaceful seclusion. 50 Tippet Trail is more than a home, it is a private Montana sanctuary where elegant design meets the raw beauty of the Bitterroot Valley. With its rare river frontage, exceptional craftsmanship, and unmatched setting, this estate stands as a true legacy property for those seeking both luxury and adventure.
#406854

Darby

50 Tippet Trail

3 Beds

None Baths

4,496 Sq.Ft.

$10,175,000

MLS#: 406854

Set in the heart of Moonlight West, the Iron Drive Cabins offer a rare opportunity to own one of the community’s first built-home residences. Designed by Reid Smith Architects, this limited collection of ten contemporary homes reflects the architectural character of Moonlight West while embracing immersive mountain living. Positioned alongside The Reserve golf course, the cabins enjoy direct access to current and future golf amenities, as well as close proximity to the planned fitness facility and outdoor tennis and pickleball courts.

Owners benefit from an adjacent trail system connecting seamlessly to the broader Moonlight West network, ideal for hiking, mountain biking, snowshoeing, and cross-country skiing. Each residence includes a dedicated ski locker at the new Clubhouse, which is currently in the design phase by CLB Architects. Planned Clubhouse amenities include a restaurant and bar, sports bar and private dining room, separate ski and golf locker rooms, pro shop, golf simulators, and panoramic views of Lone Peak, Fan Mountain, and the Spanish Peaks.

Membership in Moonlight Club is available with each Iron Drive Cabin and is required with purchase, offering access to a growing collection of world-class amenities. Thoughtfully sited in a dynamic, recreation-focused setting, the Iron Drive Cabins present a compelling blend of modern convenience, connection, and mountain lifestyle.
#408320

Big Sky

TBD Iron Drive 10

4 Beds

4 Baths

4,346 Sq.Ft.

$10,000,000

MLS#: 408320

Rare find of acreage in one of the counties fastest growing corridors.  20 acre parcel with services to the lot and a plethora of possible uses.  Access is paved, established business adjacent and development of the area in its prime.  Call today for all pertinent details!
#407041

Bozeman

TBD Freemont Street

None Beds

None Baths

20.0 acres

$10,000,000

MLS#: 407041

Nestled in the highly sought-after Ninemile Valley between the Ninemile Divide and Reservation Divide Ranges, this ranch is a secluded haven just 45± minutes to Missoula, home to the University of Montana and an airport. This property is part of a crucial undeveloped wildlife passage between the Rattlesnake Wilderness Area and Mission Range to the northeast and the Selway-Bitterroot Wilderness to the southwest. The 457± deeded
acres, contiguous to Lolo National Forest for about a mile, boast breathtaking views, unparalleled privacy, and almost two miles of fishable Ninemile Creek frontage, creating a quintessential Montana retreat. Acreage ranges from 170± acres of timbered slopes to creek bottom, irrigated lawns, and about 130 acres of irrigated hay meadows. Wildlife traipsing through includes whitetail deer, elk, turkeys, grouse, sandhill cranes, and the occasional wolf. The stunning landscape is only bested by the improvements, including a 3 bedroom/2.5 bathroom 2,970± SF main home, 902± SF log guest cabin, a 12,000± SF barn/recreation center that sleeps 22 that includes a shop and vehicle storage, a rustic cabin with an outhouse, two pole-frame storage buildings, and a sporting clays course.
#407802

Huson

31255 Ninemile Road

3 Beds

1 Baths

2,970 Sq.Ft.

$9,995,000

MLS#: 407802

Big 5 Ranch is in Livingston, Montana, a distinguished western town noted for its hospitality, scenic beauty, and vibrant community committed to preserving the unique character of the region. With a population of approximately 9,000, Livingston serves as the original gateway to Yellowstone National Park. Big 5 Ranch is ideal for a family, corporate or hunting retreat and is minutes from downtown Livingston. 

The ranch spans 514 acres of timbered hillsides and grasslands, affording significant privacy while remaining within convenient reach of both downtown Livingston and Bozeman. Big 5 Ranch sustains a resident elk herd, whose numbers fluctuate but consistently benefit from the property's high-quality habitat, refuge, and forage, supporting both elk and deer populations. In addition, moose and other large wildlife species typical of the greater Yellowstone ecosystem are routinely observed on site. An extensive trail system offers numerous opportunities to observe and appreciate the diverse wildlife present throughout Big 5 Ranch.

Inspired by Montana’s historic homesteads, the ranch residence was designed to look like an established cabin that was expanded. There are intimate spaces within each room, so it does not feel too grand, keeping a cozy feeling throughout. The house blends into its hillside setting and is well-suited for two as it is for 10. Its aged look is paired with contemporary touches like black steel accents, angled columns, and sleek windows that frame landscape views. Reclaimed wood logs, granary timber, Douglas fir beams, Montana moss stone, and a metal roof all evoke a historic feel. No sheetrock was used; instead, reclaimed timber, hand applied plaster, and shiplap ensure comfort and style across. Modern elements like handmade tiles, French oak hardwoods add artistic flair, while rustic finishes reinforce the home's Western appeal. 

Big 5 feels extremely remote yet is accessible to world class amenities throughout this part of southwestern Montana.  This is an exceptional Montana lifestyle opportunity for outdoor enthusiasts with its expansive landscape, excellent location and combination of dramatic natural beauty, robust wildlife populations, and architectural brilliance.
#405428

Livingston

107 Eldridge Creek Trail

4 Beds

2 Baths

4,585 Sq.Ft.

$9,975,000

MLS#: 405428

One of a kind opportunity to acquire 2 parcels (40 acres), in a small exclusive gated community, in the most central location of Moonlight Basin. Parcels of this size will never again be available. This property, set just minutes into Moonlight Basin, is perfectly located between One&Only, Madison Base, LakeLodge and the new Moonlight West area. Its expansive footprint ensures complete privacy while offering seamless access to Moonlight Basin’s renowned skiing, golf, hiking, and exclusive amenities. This rare property is perfectly located to capture breathtaking views of Lone Peak, Fan Mountain and the surrounding wilderness. Set among mature pine and aspen groves, the property offers a pristine and secluded canvas for a custom residence or generational retreat in the heart of Moonlight Basin.
#406472

Big Sky

tbd Ulery's Lakes Road - Lot 12A + 13A

None Beds

None Baths

40.0 acres

$9,950,000

MLS#: 406472

In the forested hills of Towering Pines, this extraordinary Big Sky retreat combines world-class architecture, refined design, and sweeping natural beauty across 20 private acres. Offering both unmatched tranquility and connection to one of the Rockies’ most exclusive private clubs, it is a legacy estate designed for generations.

Ownership includes the opportunity for a coveted National Membership at Spanish Peaks Mountain Club, granting access to the Tom Weiskopf–designed championship golf course, a stunning clubhouse with fine dining, private ski lift access into Big Sky Resort, and a year-round calendar of curated events. Membership also connects owners to the broader Montage Big Sky community, elevating the lifestyle to one of true rarity at the heart of a premier resort destination.

Approximately half of the residence is a newly built custom addition by OSM, strategically designed to frame sweeping views of the Spanish Peaks and Lone Mountain. Though offering remarkable privacy and serenity, the estate sits just minutes from Big Sky’s world-renowned skiing, championship golf, the Blue Ribbon waters of the Gallatin River, and the vibrant Town Center.

Inside, soaring ceilings, expansive windows, and seamless indoor-outdoor transitions fill the home with natural light, while elevated finishes and clean lines create an atmosphere of timeless sophistication. Curated spaces with custom lighting evoke a gallery-like ambiance, perfectly suited for art and the discerning collector.

Spanning more than 10,000 square feet, the residence balances gracious entertaining with the ease of everyday living. Six spacious bedrooms include a primary suite with dual walk-in closets, a private upstairs gym, and a lower-level office and den. A separate guest suite—complete with its own kitchen, dining nook, living room, and outdoor sitting deck—offers visitors both comfort and privacy. Additional features include an expanded three-car garage with a custom-designed mudroom, multiple living areas anchored by striking fireplaces, and a thoughtful blend of formal and casual gathering spaces.

Outdoors, winding garden paths, intimate seating areas, and sweeping mountain vistas elevate the mountain living experience. Every detail reflects a commitment to craftsmanship, elegance, and enduring quality. More than a home, this is a sanctuary—an inspired retreat and a true legacy property, thoughtfully designed to be cherished for generations to come.
#400400

Big Sky

1200 Towering Pines

6 Beds

4 Baths

11,582 Sq.Ft.

$9,945,000

MLS#: 400400

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