Flex Live-Work Property with
For Sale
$859,555
2605 Fremont Street, Bozeman, MT 59718
Commercial Sale, Other - Bozeman, MT
Property Size2,671 SF
Price / SF$321.81
Days on Market71
Property Features for 2605 Fremont Street
General Information
Property type
Commercial Sale
Property subtype
Condominium
Zoning
MU
Bedrooms
2
Bathrooms
3
Full bathrooms
3
Rooms
Bathroom 1, Bathroom 2, Bathroom 3, Bedroom 1, Bedroom 2
Parking features
Assigned, Garage, Paved or Surfaced
Subdivision
Fremont Square Condos
Directions
Heading from 4C, North on Jackrabbit, R on Silverleaf Ln, Right on Fremont.
From E Valley Center, head towards Jackrabbit, Left on Fremont end of Fremont.
Standard status
Active
APN
Rff85762
Size
2,671 SF
Utilities
Heating system
Natural Gas, Wall Furnace
Cooling system
Central Air, None (Cooling)
Building Details
Year built
2026
Architectural style
Other
Builder Name
All About Homes and Land
Listing Agency:
Engel & Völkers Bozeman
(406) 404-1960
Listed By:
Kari Francisco
(406) 595-3885
Added: Jun 12
Changed: Jul 15
Last Checked: Aug 21 at 2:06AM
MLS# 408142
Copyright © 2026 Engel & Völkers. 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 flex live-work property features a two-level Cottonwood Flex Plan at Fremont Square, totaling approximately 2,671 square feet. The main level includes about 1,286 square feet of commercial space with 15-foot ceilings, a 12' x 14' overhead door with pull-through garage access, and an ADA-compliant bathroom.
The upper level offers approximately 1,385 square feet of flexible space that can be used as an office suite, studio, or apartment configuration with two bedrooms plus an open flex room that may function as an office or separate living room. A large, south-facing 230 square foot deck spans the main bedroom and the flex room.
The property is located along Jackrabbit Lane near the Jackrabbit Crossing development, and Fremont Square provides access to I-90 as well as Bozeman, Belgrade, and Big Sky. Zoning is MU.
The upper level offers approximately 1,385 square feet of flexible space that can be used as an office suite, studio, or apartment configuration with two bedrooms plus an open flex room that may function as an office or separate living room. A large, south-facing 230 square foot deck spans the main bedroom and the flex room.
The property is located along Jackrabbit Lane near the Jackrabbit Crossing development, and Fremont Square provides access to I-90 as well as Bozeman, Belgrade, and Big Sky. Zoning is MU.
Key Highlights
- Approx. 2,671 SF Cottonwood Flex Plan with 1,286± SF main‑level commercial space and 1,385± SF upper‑level flexible space
- Main level features 15‑foot ceilings, a 12' x 14' overhead door, pull‑through garage, and an ADA‑compliant bathroom
- Upper level offers flexible space that can be an office suite, studio, or apartment with 2 bedrooms plus an open flex room
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
$33,681
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
3.92%
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%
$673,620
$673.6K
Cap Rate 7%
$481,157
$481.2K
Cap Rate 9%
$374,233
$374.2K
Market Conditions
NOI Build-Up for 2,671 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
$40.1K $15.00/SF
− Vacancy
−$441 −$0.17/SF
EGI
$39.6K $14.83/SF
− OpEx
−$5.9K −$2.23/SF
NOI
$33.7K $12.61/SF
Area
Gallatin County, MT
Vacancy
1.10%
Lease Rate
$15.00 /SF/Yr
Expense Ratio
15.00%
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%
$673,620
Cap Rate 7%
$481,157
Cap Rate 9%
$374,233
Alternative Uses
Best Use
Warehouse
$481.2K
$421.0K – $561.4K
NOI $33,681 @ 7.0% cap · market cap 3.92%
Second Best
Flex RnD
$464.2K
$406.2K – $541.6K
NOI $32,496 @ 7.0% cap · market cap 3.78%
Theoretical Best
Office A
$697.5K
$610.3K – $813.7K
NOI $48,822 @ 7.0% cap · market cap 5.68%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
15 ft
Clear height
1
Drive-in doors
Turnkey business
Opportunity
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
28
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 59718, MT
43,831
Population
19,765
Households
2.2
Avg Household Size
33
Median Age
57%
College-Educated
97%
High-School Grad
164.5 sq mi
ZIP Area
266
Density / Sq Mi
$91,852
Median Household Income
$44,915
Median Earnings
$1,748
Median Rent
$579,800
Median Home Value
Market
Vacancy Rate% for Industrial in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Flex live-work plan with 15-foot ceilings, pull-through 12' x 14' overhead door, ADA bath, and a south-facing deck.
Where is this flex space located?
The property is located at 2605 Fremont Street Bozeman, MT.
What is the asking price?
The asking price for this property is $859,555.
What are key features of this property?
This property features: Approx. 2,671 SF Cottonwood Flex Plan with 1,286± SF main‑level commercial space and 1,385± SF upper‑level flexible space; Main level features 15‑foot ceilings, a 12' x 14' overhead door, pull‑through garage, and an ADA‑compliant bathroom; Upper level offers flexible space that can be an office suite, studio, or apartment with 2 bedrooms plus an open flex room
