Mixed-Use Commercial
For Sale
$1,690,000
19 N 10th Avenue, Bozeman, MT 59715
Approximately 4,000 square feet of flexible commercial space within the B-2M mixed-use district.
Property Size3,952 SF
Price / SF$427.63
Days on Market370
Property Features for 19 N 10th Avenue
General Information
Standard status
Active
Size
3,952 SF
Property subtype
Commercial
Zoning
B2M
Taxes and HOA fees
Annual Taxes
$10,254
Building Details
Building Size
3,952 SF
Year Built
1976
Buildings
1
Listing Agency:
RE/MAX Premier
(406) 539-6060
Listed By:
Michael Pitcairn · License #BRO-46561
(406) 539-6060
Source:
Outlaw
Added: Aug 26, 2025
Changed: Aug 29
Last Checked: Jul 8 at 1:38PM
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 Premier
Investment Insights
Based on property information with market context.
Built in 1976, this commercial building at 19 N 10th Avenue provides approximately 4,000 square feet for retail, office, or mixed-use occupancy. The property is positioned about half a block from Main Street and within walking distance of downtown Bozeman shops, dining, and other amenities. Its configuration supports a range of commercial applications within an established downtown setting.
The B-2M Community Business District – Mixed designation accommodates retail, office, and service uses, with multifamily housing encouraged as a secondary use. District standards allow non-residential or mixed-use buildings up to 5 stories or 60 feet, whichever is less; residential-only buildings may reach 4 stories or 50 feet, whichever is less. Parking standards call for 2 spaces per 2,000 square feet of commercial gross floor area and 1 space per residential unit.
The B-2M Community Business District – Mixed designation accommodates retail, office, and service uses, with multifamily housing encouraged as a secondary use. District standards allow non-residential or mixed-use buildings up to 5 stories or 60 feet, whichever is less; residential-only buildings may reach 4 stories or 50 feet, whichever is less. Parking standards call for 2 spaces per 2,000 square feet of commercial gross floor area and 1 space per residential unit.
Key Highlights
- Approximately 4,000 square feet of commercial space
- B‑2M Community Business District – Mixed zoning
- About half a block from Main Street
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
$58,136
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
3.44%
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%
$1,162,720
$1.2M
Cap Rate 7%
$830,514
$830.5K
Cap Rate 9%
$645,956
$646.0K
Market Conditions
NOI Build-Up for 3,952 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
$83.0K $21.00/SF
− Vacancy
−$5.5K −$1.39/SF
EGI
$77.5K $19.61/SF
− OpEx
−$19.4K −$4.90/SF
NOI
$58.1K $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%
$1,162,720
Cap Rate 7%
$830,514
Cap Rate 9%
$645,956
Alternative Uses
Best Use
Office B
$830.5K
$726.7K – $968.9K
NOI $58,136 @ 7.0% cap · market cap 3.44%
Second Best
Mixed Use
$776.6K
$679.5K – $906.0K
NOI $54,360 @ 7.0% cap · market cap 3.22%
Theoretical Best
Office A
$1.03M
$903.0K – $1.20M
NOI $72,236 @ 7.0% cap · market cap 4.27%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,629
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?
Mixed-use property - Approximately 4,000 square feet of flexible commercial space within the B-2M mixed-use district.
Where is this mixed-use property located?
The property is located at 19 N 10th Avenue Bozeman, MT.
What is the asking price?
The asking price for this property is $1,690,000.
What are key features of this property?
This property features: Approximately 4,000 square feet of commercial space; B‑2M Community Business District – Mixed zoning; About half a block from Main Street
