2111 South 11Th Ave Bozeman, MT 59715
Purpose-built student housing near Montana State University with retail component.
Source:
Nmrk
Listing Agent: Ryan Lang
Displayed information is deemed reliable but is not guaranteed and should be independently verified.
Overview
Student Housing Near Montana State
Located along South 11th Avenue, this property is situated near Montana State University. Constructed in 2015, the property offers an opportunity for new ownership to implement a light value-add program. The property has a retail component with one ground-floor retail storefront totaling 1,500 SF. The retail is 100% occupied, presenting new ownership with roughly $31k in annual retail income. Montana State University achieved record-breaking enrollment in the fall of 2024, with a total of 17,144 students, reflecting a 5.51% growth since the 2020-2021 academic year. The market has maintained an average of 97.9% occupancy and achieved 2.7% effective rent growth for the 2024-2025 academic year. Rents have grown by 61% since the 2020-2021 academic year. New ownership has the potential to increase NOI by $306k over designated hold periods by operational efficiencies, occupancy stabilization, and rent growth. The property is positioned as a low-cost provider compared to newer purpose-built student housing and conventional properties within the submarket. New ownership is given the opportunity to acquire an asset with in-place, assumable debt with favorable terms.
Location Intelligence
Current Use by Public Records
Bozeman Market & Deli
Deli
Location Insight
- Map
- Local Demand
- City
- Bozeman
- County
- Gallatin
- State
- Montana
- Longitude
- -111.0525487
- Latitude
- 45.6580179
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FAQs
What type of property is this?
Apartment building - Purpose-built student housing near Montana State University with retail component.
Where is this apartment building located?
The property is located at 2111 South 11Th Ave Bozeman, MT.
What are key features of this property?
This property features: - Prime Location: Steps from Montana State University (MSU) campus and nearby retail.; - Strong Market Performance: High occupancy rates (97.9% average) and significant rent growth (61% since 2020-2021).; - Assumable Debt: Opportunity to acquire the asset with in-place, assumable debt with favorable terms.