Three-Story Office
New
For Sale
$1,900,000
1315 E Main Street, Bozeman, MT 59715
B2-zoned commercial building with separate office areas, central air conditioning, and adaptable business space.
Property Size5,616 SF
Price / SF$338.32
Days on Market2
Property Features for 1315 E Main Street
General Information
Standard status
Active
Size
5,616 SF
Property subtype
Commercial
Zoning
B2
Additional Details
Highway Access
Yes
Taxes and HOA fees
Annual Taxes
$1,084
Amenities
fireplace
conference room
kitchen
kitchenette
central air conditioning
high ceilings
covered deck
patio
lobby
Building Details
Building Size
5,616 SF
Year Built
1938
Buildings
1
Stories
3
Listing Agency:
Yellowstone Brokers
(406) 995-2404
Listed By:
Eli Kretzmann
(208) 507-1613
Source:
Outlaw
Added: Sep 6
Last Checked: Sep 7 at 5:25AM
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 Yellowstone Brokers
Investment Insights
Based on property information with market context.
This three-story office building contains 5,616 square feet on a lot measuring more than a quarter acre. The interior is arranged as separate office areas across three levels, with 15 offices, conference areas, kitchen or kitchenette space, and multiple half bathrooms. A lobby fireplace, high ceilings on the main floor, central air conditioning, and a covered accessibility-friendly deck add functional and distinctive features. The lower level also includes oversized north-facing windows and a walk-out concrete patio.
Located at 1315 E Main Street in Bozeman, the property is zoned B2 within a community business district. The site offers access to a gravel parking area and is described as being near I-90, downtown Bozeman, and Bozeman Deaconess Hospital. The zoning supports a range of retail and service-oriented business uses, including restaurant and medical office applications.
Located at 1315 E Main Street in Bozeman, the property is zoned B2 within a community business district. The site offers access to a gravel parking area and is described as being near I-90, downtown Bozeman, and Bozeman Deaconess Hospital. The zoning supports a range of retail and service-oriented business uses, including restaurant and medical office applications.
Key Highlights
- 5,616‑square‑foot office building on more than a quarter‑acre lot
- Three levels with 15 separate office spaces
- B2 zoning in a community business district
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
$82,614
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
4.35%
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%
$1,652,280
$1.7M
Cap Rate 7%
$1,180,200
$1.2M
Cap Rate 9%
$917,933
$917.9K
Market Conditions
NOI Build-Up for 5,616 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
$117.9K $21.00/SF
− Vacancy
−$7.8K −$1.39/SF
EGI
$110.2K $19.61/SF
− OpEx
−$27.5K −$4.90/SF
NOI
$82.6K $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%
$1,652,280
Cap Rate 7%
$1,180,200
Cap Rate 9%
$917,933
Alternative Uses
Best Use
Office B
$1.18M
$1.03M – $1.38M
NOI $82,614 @ 7.0% cap · market cap 4.35%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.47M
$1.28M – $1.71M
NOI $102,651 @ 7.0% cap · market cap 5.40%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
531
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Office building - B2-zoned commercial building with separate office areas, central air conditioning, and adaptable business space.
Where is this office building located?
The property is located at 1315 E Main Street Bozeman, MT.
What is the asking price?
The asking price for this property is $1,900,000.
What are key features of this property?
This property features: 5,616‑square‑foot office building on more than a quarter‑acre lot; Three levels with 15 separate office spaces; B2 zoning in a community business district
