This article will help anyone looking for information pertaining to a commercial real estate and commercial lending in the State of
In Montana, any property that is not a dwelling or property with less than
five residential units is considered commercial real estate. Property used for
commercial, industrial, medical, educational or multiple unit residential purposes
is classified as commercial in this large state, and there is plenty of it located
in Montana's 145,552 square miles. In 2006, it was reported that Montana's commercial
real estate market was in the midst of experiencing significant growth.
Those looking for commercial real estate in Montana have their
choice of rental/properties or purchasing the real estate outright. Not all
properties offer the option of doing either. However, there are enough properties
to choose from that whether your need is to rent or purchase, you will be able
to find what you are looking for in the location you need.
Around the state's largest cities, Billings, Great Falls, Bozeman, Missoula,
and the state capital, Helena, there is a traditional commercial real estate market.
Industrial commercial real estate that can be used for warehouses, manufacturing
plants, long term storage facilities, and large office spaces are available. There
are also open tracks of land that are zoned commercial for custom industrial buildings
to be built. There are also commercial buildings available for office space that
house smaller businesses such as banks, legal offices, technology firms, medical
facilities, and real estate agencies.
Another growing area in the Montana commercial real estate market is the hospitality
and resort industry. Montana is bountiful in both beautiful
open and mountain country, and these spaces are being used for ventures such
as restaurants, mountain resorts, working ranches where families can vacation,
and shopping centers where the people who come to these places spend their time
shopping. As the population of Montana continues to lean towards a career/family
and retiring baby boomer demographic, the hospitality and resort industries
will continue to grow.
In addition to the traditional properties and the hospitality resort real estate
properties, Montana also has an abundance of the commercial real estate that
is typically found in open Midwest states-agriculture, mining
and milling. Farming is still big business in Montana, and there is plenty of
commercial real estate with good, fertile soil. The state is rich is natural
mineral deposits and in lumber, and real estate is available for those looking
in these areas.
Many areas of Montana are seeing a high rate of growth in their population. Builders
are having trouble keeping up with the demands of housing. As these areas become
more populated, the need for more commercial ventures, and thus the need for more
commercial real estate, will develop.