NNN Properties For Sale in Montana (2026): Listings by Tenant, City and Cap Rate

17 NNN properties are observed for sale in Montana across 14 tenants and 12 cities as of October 30, 2026, at a median asking cap rate of 6.93%, 58 basis points above the national median of 6.35%. Investment Grade Research tracks each one across publicly marketed offerings and broker materials, checks rated tenants against the investment grade threshold, and publishes the observations here: which tenants and cities carry the inventory, what it is asking, how Montana prices against the national market, and how an acquisition or 1031 exchange buyer should work through it.

Asking cap rates in Montana run from 6.00% to 10.02%, with the middle half of listings between 6.30% and 7.59%. Median asking price $3.50M (median $417 per SF). Average remaining lease term 13.2 years among 8 listings that state a term. 7 listings were first observed and 8 dropped off active tracking in the last 90 days. Figures update automatically across publicly marketed offerings and broker materials.

Key findings, as of October 30, 2026

17 NNN listings are observed in Montana, the 42nd largest inventory of the 50 states with listings.
The median asking cap rate of 6.93% is 58 basis points above the national median. That median is based on 14 priced listings.
The median Montana listing has been observed since tracking began on July 25, 2026, so it may have been on the market longer; 7 were first observed and 8 dropped off active tracking in the last 90 days.

NNN Properties For Sale in Montana: Latest Listings

Up to twenty-four single-tenant net lease properties in Montana with published pricing, the newest from each tenant first so the table reflects the whole Montana market rather than one or two active tenants. Below the table, the full listing browser carries every observed Montana listing with tenant, city, cap rate, price and term filters. Open any listing and register for full property data, including the address, location map and an IG summary with due diligence questions.

Tenant	City	Asking Price	Cap Rate	NOI	Term Left	Built	Lease
Pizza Hut	Cut Bank	$1,297,000	7.75%	$100,540	n/a	1984	Not stated	Get full property data
Walgreens	Billings	$5,060,000	10.02%	$506,900	n/a	n/a	Not stated	Get full property data
Buffalo Wild Wings	Bozeman	$7,000,000	6.00%	$420,000	n/a	2020	Not stated	Get full property data
GSA	Malta	$5,305,000	7.10%	$376,651	n/a	2005	Not stated	Get full property data
Tidal Wave Auto Spa	Great Falls	$6,300,800	6.75%	$425,304	n/a	2023	Not stated	Get full property data
Shell and Jiffy Lube	Helena	$1,900,000	6.25%	$118,800	11.7 yrs	1992	NNN	Get full property data
BW Blacksmith Coffee	Butte	$1,409,000	6.85%	$96,485	15.0 yrs	n/a	Absolute NNN	Get full property data
Tractor Supply	Belgrade	$9,417,000	6.00%	n/a	15.0 yrs	2025	NN	Get full property data
7 Brew	Kalispell	$8,986,944	7.00%	$641,097	n/a	1974	Not stated	Get full property data
Amazon	Missoula	$17,990,000	6.43%	$1,122,924 implies 6.24%; verify	7.0 yrs	2023	NNN	Get full property data
Family Dollar	Shelby	$1,750,000	7.00%	n/a	n/a	2021	Not stated	Get full property data
Pizza Hut	Great Falls	$1,017,638	8.00%	$79,925	20.0 yrs	1989	NNN	Get full property data
Tractor Supply	Butte	$10,417,000	6.00%	n/a	15.0 yrs	2025	NN	Get full property data
Pizza Hut	Havre	$2,439,590	7.75%	n/a	12.5 yrs	1998	Absolute NNN	Get full property data

Showing 14 of 17 observed Montana listings: the newest from each tenant first, then each tenant’s next newest. Listings without a published asking price and cap rate are not shown here.

Filter by tenant, city, cap rate, price and term. Listings with undisclosed pricing included.

Market observations aggregated from publicly marketed offerings and broker materials; not offerings by Investment Grade Income Property, LP. Asking price, cap rate and NOI as published by the offering party. Information deemed reliable but not guaranteed. Verify all figures before relying on them.

Montana NNN Properties by Tenant

Listing count, median asking cap rate and cap range by tenant. Tenants with a linked page have a full credit rating, cap rate and inventory profile; the rest are tracked here at the state level until they earn a page of their own.

Tenant	Listings	Median Cap	Cap Range	Median Price
Pizza Hut	3	7.75%	7.75% to 8.00%	$1.30M
Tractor Supply	2	6.00%	6.00%	$9.92M	Tractor Supply NNN for sale
7 Brew	1	n/a	7.00%	$8.99M
Amazon	1	n/a	6.43%	$17.99M	Amazon NNN for sale
Buffalo Wild Wings	1	n/a	6.00%	$7.00M	Buffalo Wild Wings NNN for sale
BW Blacksmith Coffee	1	n/a	6.85%	$1.41M
City Brew	1	n/a	n/a	$2.89M
Conlin's Furniture	1	n/a	n/a	$3.50M
Family Dollar	1	n/a	7.00%	$1.75M	Family Dollar NNN for sale
GSA	1	n/a	7.10%	$5.31M
Shell and Jiffy Lube	1	n/a	6.25%	$1.90M	Shell and Jiffy Lube NNN for sale
Tidal Wave Auto Spa	1	n/a	6.75%	$6.30M
U.S. Bank	1	n/a	n/a	$2.50M	U.S. Bank NNN for sale
Walgreens	1	n/a	10.02%	$5.06M	Walgreens NNN for sale

Tenants with the most Montana listings observed (all 14). Tenants with a linked page have a full credit and inventory profile; 8 of the 17 listings belong to tenants with a profile page.

Montana NNN Properties by Category

Counts cover all observed listings from tenants with a profile page; the category pages aggregate the same tenants nationally.

Montana NNN Properties by City

The cities with the most observed Montana listings are Billings (4), Butte (2) and Great Falls (2). Tap any city in the table to filter the full listing browser to that city.

City	Listings	Median Cap	Avg Asking Price
Billings	4	n/a	$3.49M
Butte	2	6.43%	$5.91M
Great Falls	2	7.38%	$3.66M
Belgrade	1	n/a	$9.42M
Bozeman	1	n/a	$7.00M
Cut Bank	1	n/a	$1.30M
Havre	1	n/a	$2.44M
Helena	1	n/a	$1.90M
Kalispell	1	n/a	$8.99M
Malta	1	n/a	$5.31M
Missoula	1	n/a	$17.99M
Shelby	1	n/a	$1.75M

Cities with the most Montana listings observed (all 12). Tap a city to filter the full listing browser.

How Montana Prices Against the National NNN Market

The Montana median asking cap rate of 6.93% sits 58 bps above the national median of 6.35%. A state median reflects both location and which tenants happen to be on the market, so the state median alone is not a like-for-like price comparison. Compare any listing with its tenant’s national cap rate bands on the tenant page before reading the state spread as a discount or a premium; the investment grade guide explains how tenant credit sets the floor under those bands.

Montana Taxes and the 1031 Exchange Buyer

General information, not tax or legal advice. State income tax, real estate transfer tax and property tax assessment rules differ by state, and sometimes by county or city, and they affect both your exchange and what a replacement tenant could afford in rent. Confirm the rules that apply to your property with your CPA, tax attorney and qualified intermediary before you rely on them. Replacement property must be identified within 45 days after the sale of the relinquished property and received by the earlier of 180 days after that sale or the due date, including extensions, of your tax return for that year (Internal Revenue Code Section 1031(a)(3); Treasury Regulation 1.1031(k)-1(b)(2)). Ask your qualified intermediary to confirm your exact dates, and use the full listing browser above to filter Montana inventory by tenant and city, or each tenant page for national inventory on the same credit.

Exchanging into or out of Montana?

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We coordinate with your CPA, tax attorney and qualified intermediary, who handle the tax and exchange side. Our role is the property: finding it, analyzing it and getting it closed.

How These Figures Are Calculated

Figures cover single-tenant net lease properties observed for sale in Montana across publicly marketed offerings and broker materials, and refresh automatically with each Investment Grade Research update. A listing counts while it is actively marketed; listings marked under contract, pending, on hold or closed are excluded, as are listings priced under $150,000. Medians use published asking prices and cap rates (where a cap rate is not stated, it is computed from the published NOI and price), so they describe what sellers are asking, not closed sale prices. The same-tenant comparison takes each tenant’s median asking cap rate in Montana and compares it with that tenant’s median in other states, for tenants with at least three Montana listings and five listings elsewhere, weighted by Montana listing count. Days on market are measured from the date a listing was first observed.

Frequently Asked Questions: NNN Properties For Sale in Montana

How many NNN properties are for sale in Montana right now?

As of October 30, 2026, 17 single-tenant net lease properties are observed for sale in Montana across 14 tenants and 12 cities. The count updates automatically as listings are added and withdrawn.

What cap rates are Montana NNN properties asking?

The median asking cap rate across observed Montana listings is 6.93%, with the middle half of listings between 6.30% and 7.59%. That median is 58 bps above the national median of 6.35%. Cap rates vary by tenant, guarantee, remaining term and location; confirm the lease before relying on any single figure.

Which tenants have the most NNN listings in Montana?

The tenants with the most observed Montana listings right now are Pizza Hut (3) and Tractor Supply (2), then 12 other tenants with 1 listing each. The tenant table above lists every tenant with an observed listing.

Which Montana cities have the most NNN properties for sale?

The cities with the most observed listings are Billings (4), Butte (2) and Great Falls (2). The city table above lists every city with an observed listing and filters the full listing browser.

Are these listings offered by Investment Grade?

No. These are market observations aggregated from publicly marketed offerings and broker materials, not offerings by Investment Grade Income Property, LP. Registering for full property data connects you with our team for buyer representation and due diligence; the listing broker remains the listing broker.

NNN Properties For Sale in Other States

Browse NNN Properties For Sale by Tenant and Category

Buying With 1031 Exchange Proceeds?

Compare this inventory with all 7,408 1031 exchange NNN properties for sale nationally, sorted by price band, tenant credit, remaining lease term and state. Then check your 1031 exchange deadlines: 45 days to identify replacement property and 180 days to close, or your tax return due date (including extensions) if that comes first (IRC 1031(a)(3); Treas. Reg. 1.1031(k)-1(b)(2)). General information, not tax or legal advice.