Office Condo With Three
For Sale
$295,000
18-2123 Durston Rd, Bozeman, MT 59718
Includes a reception area, storage room, and bath alongside three offices.
Property Size801 SF
Price / SF$368.29
Days on Market213
Property Features for 18-2123 Durston Rd
General Information
Standard status
Active
Size
801 SF
Taxes and HOA fees
Annual Taxes
$2,641
Building Details
Tenancy
Single
Listing Agency:
RE/MAX Legacy
(406) 579-5076
Listed By:
Laurita Green · License #BRO-6654
(406) 579-5076
Source:
Exprealty
Added: Jan 19
Changed: Aug 18
Last Checked: Aug 20 at 1:47PM
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 RE/MAX Legacy
Investment Insights
Based on property information with market context.
This 801-square-foot office condominium is arranged with three offices, a reception area, a storage room, and a bath. The configuration provides defined rooms for office operations within a compact commercial unit.
The property is occupied by a tenant under a lease scheduled to expire October 31, 2027. Management is provided by Platinum Property Managemant Company. Located at 18-2123 Durston Rd in Bozeman, Montana, the unit offers a straightforward office layout with an existing tenancy in place.
The property is occupied by a tenant under a lease scheduled to expire October 31, 2027. Management is provided by Platinum Property Managemant Company. Located at 18-2123 Durston Rd in Bozeman, Montana, the unit offers a straightforward office layout with an existing tenancy in place.
Key Highlights
- 801‑square‑foot office condo
- Three offices with reception area, storage room, and bath
- Existing tenant in place
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
$11,783
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
3.99%
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%
$235,660
$235.7K
Cap Rate 7%
$168,329
$168.3K
Cap Rate 9%
$130,922
$130.9K
Market Conditions
NOI Build-Up for 801 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
$16.8K $21.00/SF
− Vacancy
−$1.1K −$1.39/SF
EGI
$15.7K $19.61/SF
− OpEx
−$3.9K −$4.90/SF
NOI
$11.8K $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%
$235,660
Cap Rate 7%
$168,329
Cap Rate 9%
$130,922
Alternative Uses
Best Use
Office B
$168.3K
$147.3K – $196.4K
NOI $11,783 @ 7.0% cap · market cap 3.99%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$209.2K
$183.0K – $244.0K
NOI $14,641 @ 7.0% cap · market cap 4.96%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Single-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
92
Businesses Nearby
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 Office in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office units - Includes a reception area, storage room, and bath alongside three offices.
Where is this office units located?
The property is located at 18-2123 Durston Rd Bozeman, MT.
What is the asking price?
The asking price for this property is $295,000.
What are key features of this property?
This property features: 801‑square‑foot office condo; Three offices with reception area, storage room, and bath; Existing tenant in place
