Mixed-Use Commercial
For Sale
$1,690,000
19 N 10th Avenue, Bozeman, MT 59715
CommercialSale, Bozeman, MT
Property Size3,952 SF
Lot Size0.34 Acres
Price / SF$427.63
Days on Market370
Property Features for 19 N 10th Avenue
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
B2M
Directions
West Main St to North on 10th Ave. Go 1/2 block on left.
Subdivision
1NE - Boz N of Main/E of 19th
Standard status
Active
APN
RGG5252
Size
3,952 SF
Lot size
0.34 Acres
Taxes and HOA fees
Tax Year
2024
Tax Description
SPRINGBROOK ADD, S12, T02 S, R05 E, BLOCK 4, LOT 1 - 6
Tax Annual Amount
10254
Legal Description
SPRINGBROOK ADD, S12, T02 S, R05 E, BLOCK 4, LOT 1 - 6
Utilities
Sewer type
Public Sewer
Heating system
Forced Air, Natural Gas
Water source
Public
Building Details
Year built
1976
Listing Agency:
Torok & Company
(406) 548-7777
Listed By:
Michael Torok · License #BRO-46561
(406) 548-7777
Added: Aug 26, 2025
Changed: Aug 27
Last Checked: Aug 30 at 3:06PM
MLS# 404690
Copyright © 2026 Big Sky Country MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This mixed-use commercial property includes a 3,952-square-foot building on 0.3444 acres. Constructed in 1976, the property has natural gas and forced-air heating, along with public water and public sewer service. The B-2M designation supports a combination of commercial and residential activity, including retail, office, and service uses, with multifamily development encouraged as a secondary use.
Located at 19 N 10th Avenue, the property sits approximately half a block from Main Street and provides pedestrian access to downtown Bozeman shops, dining, and other amenities. B-2M standards allow non-residential or mixed-use construction up to 5 stories or 60 feet, whichever is less; residential-only construction may reach 4 stories or 50 feet, whichever is less. Parking standards call for 1 space per residential unit and 2 spaces per 2,000 square feet of commercial gross floor area.
Located at 19 N 10th Avenue, the property sits approximately half a block from Main Street and provides pedestrian access to downtown Bozeman shops, dining, and other amenities. B-2M standards allow non-residential or mixed-use construction up to 5 stories or 60 feet, whichever is less; residential-only construction may reach 4 stories or 50 feet, whichever is less. Parking standards call for 1 space per residential unit and 2 spaces per 2,000 square feet of commercial gross floor area.
Key Highlights
- 3,952‑square‑foot commercial building on 0.3444 acres
- B‑2M: Community Business District - Mixed zoning
- Approximately half a block from Main Street
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$58,136
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
3.44%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,162,720
$1.2M
Cap Rate 7%
$830,514
$830.5K
Cap Rate 9%
$645,956
$646.0K
Market Conditions
NOI Build-Up for 3,952 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$83.0K $21.00/SF
− Vacancy
−$5.5K −$1.39/SF
EGI
$77.5K $19.61/SF
− OpEx
−$19.4K −$4.90/SF
NOI
$58.1K $14.71/SF
Area
Gallatin County, MT
Vacancy
6.60%
Lease Rate
$21.00 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,162,720
Cap Rate 7%
$830,514
Cap Rate 9%
$645,956
Alternative Uses
Best Use
Office B
$830.5K
$726.7K – $968.9K
NOI $58,136 @ 7.0% cap · market cap 3.44%
Second Best
Mixed Use
$776.6K
$679.5K – $906.0K
NOI $54,360 @ 7.0% cap · market cap 3.22%
Theoretical Best
Office A
$1.03M
$903.0K – $1.20M
NOI $72,236 @ 7.0% cap · market cap 4.27%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,629
Businesses Nearby
Explore this area
Business Placement
Demographics for 59715, MT
37,286
Population
17,116
Households
2.2
Avg Household Size
30
Median Age
68%
College-Educated
98%
High-School Grad
294.9 sq mi
ZIP Area
126
Density / Sq Mi
$85,000
Median Household Income
$31,646
Median Earnings
$1,376
Median Rent
$755,300
Median Home Value
Market
Vacancy Rate% for Office in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - B-2M zoning supports retail, office, service, and secondary multifamily uses near Bozeman’s downtown core.
Where is this mixed-use property located?
The property is located at 19 N 10th Avenue Bozeman, MT.
What is the asking price?
The asking price for this property is $1,690,000.
What are key features of this property?
This property features: 3,952‑square‑foot commercial building on 0.3444 acres; B‑2M: Community Business District - Mixed zoning; Approximately half a block from Main Street
