Medical Office Condo with
For Sale
$899,000
1648 Ellis Street 302, Bozeman, MT 59715
Top-floor office condo includes four private offices, reception and waiting area, kitchenette, and an attic bonus area.
Property Size2,608 SF
Price / SF$344.71
Days on Market184
Property Features for 1648 Ellis Street 302
General Information
Standard status
Active
Size
2,608 SF
Property subtype
Commercial
Zoning
B2
Taxes and HOA fees
Annual Taxes
$3,233
Building Details
Building Size
2,608 SF
Year Built
2004
Listing Agency:
Engel & Volkers - Bozeman
(406) 995-2404
Listed By:
Graham Miles · License #108402
(406) 686-1020
Source:
Outlaw
Added: Apr 24
Changed: Oct 6
Last Checked: Oct 23 at 5:51AM
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 Engel & Volkers - Bozeman
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
Located in the Northern Rockies Professional Center, this top-floor office condo offers a professional layout with four large private offices featuring window views. The suite includes a waiting room, reception area, kitchenette, and ample storage. Additional space is provided by a bonus area in the attic.
Common areas in the building are well maintained and include bathrooms and an elevator, with parking available on site. The property provides convenient access to Downtown Bozeman, Main Street, I-90, Bozeman Health, and MSU.
The space is well suited for office and professional/medical use, supported by its reception and waiting configuration and multiple private offices.
Common areas in the building are well maintained and include bathrooms and an elevator, with parking available on site. The property provides convenient access to Downtown Bozeman, Main Street, I-90, Bozeman Health, and MSU.
The space is well suited for office and professional/medical use, supported by its reception and waiting configuration and multiple private offices.
Key Highlights
- Top‑floor office condo in the Northern Rockies Professional Center
- Includes four private offices with windows and views of the Gallatin Range and Foothills
- Reception and waiting room plus kitchenette
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$38,365
Cap Rate
4.27%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$767,300
$767.3K
Cap Rate 7%
$548,071
$548.1K
Cap Rate 9%
$426,278
$426.3K
Market Conditions
NOI Build-Up for 2,608 SF
Gross rent
$54.8K $21.00/SF
− Vacancy
−$3.6K −$1.39/SF
EGI
$51.2K $19.61/SF
− OpEx
−$12.8K −$4.90/SF
NOI
$38.4K $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 Rate 5%
$767,300
Cap Rate 7%
$548,071
Cap Rate 9%
$426,278
Alternative Uses
Best Use
Office B
$548.1K
$479.6K – $639.4K
NOI $38,365 @ 7.0% cap · market cap 4.27%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$681.0K
$595.9K – $794.5K
NOI $47,670 @ 7.0% cap · market cap 5.30%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
821
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Office in West region
Frequently Asked Questions
What type of property is this?
Office unit - Top-floor office condo includes four private offices, reception and waiting area, kitchenette, and an attic bonus area.
Where is this office unit located?
The property is located at 1648 Ellis Street 302 Bozeman, MT.
What is the asking price?
The asking price for this property is $899,000.
What are key features of this property?
This property features: Top‑floor office condo in the Northern Rockies Professional Center; Includes four private offices with windows and views of the Gallatin Range and Foothills; Reception and waiting room plus kitchenette
