Flex Space with Loading
For Sale
$2,950,000
105 Bridger Center Drive, Bozeman, MT 59715
M1-zoned facility with overhead doors, floor drains, pull-through capability, and dedicated office space.
Property Size17,200 SF
Lot Size1.00 Acre
Price / SF$171.51
Days on Market255
Property Features for 105 Bridger Center Drive
General Information
Standard status
Active
Size
17,200 SF
Lot size
1.00 Acre
Property subtype
Commercial
Zoning
M1
Taxes and HOA fees
Annual Taxes
$25,276
Building Details
Building Size
17,200 SF
Year Built
1972
Listing Agency:
Mod West Land Co.
(952) 567-1263
Listed By:
Chris Eastlund
(952) 567-1263
Source:
Outlaw
Added: Dec 18, 2025
Changed: Aug 30
Last Checked: Aug 30 at 1:27PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Mod West Land Co.
Investment Insights
Based on property information with market context.
This flex industrial property contains approximately 17,200 square feet on 1 acre, with a configuration suited to industrial, storage, and manufacturing operations. The building includes loading docks, multiple overhead doors, pull-through options, floor drains, a small office, and a large parking lot. Constructed in 1972, the facility offers a substantial existing industrial footprint with practical loading and circulation features.
The property is located at 105 Bridger Center Drive in Bozeman’s northeast commercial neighborhood. Its combination of dock access, overhead-door capability, drainage infrastructure, office area, and on-site parking provides a functional base for businesses requiring warehouse or production-oriented space.
The property is located at 105 Bridger Center Drive in Bozeman’s northeast commercial neighborhood. Its combination of dock access, overhead-door capability, drainage infrastructure, office area, and on-site parking provides a functional base for businesses requiring warehouse or production-oriented space.
Key Highlights
- Approximately 17,200 sq ft of flex industrial space
- 1‑acre industrial property in Bozeman’s northeast commercial neighborhood
- M1 zoning
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
$216,888
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
7.35%
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%
$4,337,760
$4.3M
Cap Rate 7%
$3,098,400
$3.1M
Cap Rate 9%
$2,409,867
$2.4M
Market Conditions
NOI Build-Up for 17,200 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
$258.0K $15.00/SF
− Vacancy
−$2.8K −$0.17/SF
EGI
$255.2K $14.83/SF
− OpEx
−$38.3K −$2.23/SF
NOI
$216.9K $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%
$4,337,760
Cap Rate 7%
$3,098,400
Cap Rate 9%
$2,409,867
Alternative Uses
Best Use
Warehouse
$3.10M
$2.71M – $3.61M
NOI $216,888 @ 7.0% cap · market cap 7.35%
Second Best
Flex RnD
$2.99M
$2.62M – $3.49M
NOI $209,260 @ 7.0% cap · market cap 7.09%
Theoretical Best
Office A
$4.49M
$3.93M – $5.24M
NOI $314,388 @ 7.0% cap · market cap 10.66%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
244
Businesses Nearby
Well-served
Demand for This Use
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 Industrial in West region
Questions? Ask Rey
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Similar Off Market Nearby
- Ryan La Foley-Private Chef Inc — 505 Bond St, Bozeman, MT 59715
Frequently Asked Questions
What type of property is this?
Flex space - M1-zoned facility with overhead doors, floor drains, pull-through capability, and dedicated office space.
Where is this flex space located?
The property is located at 105 Bridger Center Drive Bozeman, MT.
What is the asking price?
The asking price for this property is $2,950,000.
What are key features of this property?
This property features: Approximately 17,200 sq ft of flex industrial space; 1‑acre industrial property in Bozeman’s northeast commercial neighborhood; M1 zoning
