Honey Retail
For Sale
$550,000
19 S Tracy, Bozeman, MT 59715
CommercialSale, Bozeman, MT
Property Size3,780 SF
Price / SF$145.50
Days on Market552
Property Features for 19 S Tracy
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
B3
Parking features
On Street
Directions
Main Street Downtown, S on Tracy, 2nd Building on the Right (West side of the road).
Subdivision
1SM - Boz Main to Kagy
Standard status
Active
APN
RGH1153
Size
3,780 SF
Taxes and HOA fees
Tax Year
2025
Tax Description
STORY ADD, S07, T02 S, R06 E, BLOCK A, Lot 1, NW4 BEING 54'X35'
Tax Annual Amount
13125
Legal Description
STORY ADD, S07, T02 S, R06 E, BLOCK A, Lot 1, NW4 BEING 54'X35'
Utilities
Sewer type
Public Sewer
Cooling system
Central Air
Water source
Public
Building Details
Year built
1928
Listing Agency:
Gallatin Realty Group
(406) 570-5422
Listed By:
Michelle Haverstick · License #BRO-63222
(406) 587-3007
Added: Apr 2, 2025
Changed: Aug 27
Last Checked: Oct 5 at 11:06AM
MLS# 400721
Copyright © 2026 Big Sky Country MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 3,780-square-foot storefront property in Bozeman houses a specialty honey retail operation with product inventory, beekeeping equipment, and related merchandise. The offering includes the website, domain name, Square point-of-sale system, and an assumable lease. Central air serves the building, which was constructed in 1928.
The business provides honey tastings and educational classes focused on beekeeping and honey-related topics. A lower level adds space for larger classes, training sessions, and tastings. Public water and sewer serve the property, with on-street parking available.
The sale includes inventory and equipment, along with an opportunity for a new owner to continue the existing retail and online sales channels.
The business provides honey tastings and educational classes focused on beekeeping and honey-related topics. A lower level adds space for larger classes, training sessions, and tastings. Public water and sewer serve the property, with on-street parking available.
The sale includes inventory and equipment, along with an opportunity for a new owner to continue the existing retail and online sales channels.
Key Highlights
- 3,780‑square‑foot storefront property
- Assumable lease included with the business
- Sale includes inventory, website, domain name, and Square point‑of‑sale system
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
$44,294
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
8.05%
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%
$885,880
$885.9K
Cap Rate 7%
$632,771
$632.8K
Cap Rate 9%
$492,156
$492.2K
Market Conditions
NOI Build-Up for 3,780 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
$68.0K $18.00/SF
− Vacancy
−$4.8K −$1.26/SF
EGI
$63.3K $16.74/SF
− OpEx
−$19.0K −$5.02/SF
NOI
$44.3K $11.72/SF
Area
Gallatin County, MT
Vacancy
7.00%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
30.00%
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%
$885,880
Cap Rate 7%
$632,771
Cap Rate 9%
$492,156
Alternative Uses
Best Use
Retail
$632.8K
$553.7K – $738.2K
NOI $44,294 @ 7.0% cap · market cap 8.05%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$987.0K
$863.7K – $1.15M
NOI $69,092 @ 7.0% cap · market cap 12.56%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
2,170
Businesses Nearby
59k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 33%
Hotels & Casinos 25%
Dining 17%
Apparel 11%
Kimpton Armory Hotel Bozeman
Hotels & Casinos
12,269 visits/mo
0.1 miles
MacKenzie River Pizza Co.
Dining
8,194 visits/mo
0.2 miles
Conoco
Shops & Services
7,236 visits/mo
0.5 miles
Fjallraven
Apparel
6,477 visits/mo
0.0 miles
Owenhouse Ace Hardware
Home Improvements & Furnishings
6,198 visits/mo
0.0 miles
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 Retail in West region
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Frequently Asked Questions
What type of property is this?
Storefront property - Specialty retail operation with lower-level instructional space and an assumable lease.
Where is this storefront property located?
The property is located at 19 S Tracy Bozeman, MT.
What is the asking price?
The asking price for this property is $550,000.
What are key features of this property?
This property features: 3,780‑square‑foot storefront property; Assumable lease included with the business; Sale includes inventory, website, domain name, and Square point‑of‑sale system
