Profitable Retail Business
For Sale
$550,000
19 Tracy, Bozeman, MT 59715
Thriving specialty retail business in Downtown Bozeman with assumable lease.
Property Size3,780 SF
Price / SF$145.50
Days on Market226
Property Features for 19 Tracy
General Information
Standard status
Active
Size
3,780 SF
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$13,125
Amenities
Garage: Common,On Street
Common,On Street
Building Details
Year Built
1928
Listing Agency:
Gallatin Realty Group
Listed By:
Michelle Haverstick · License #BRO-63222
(406) 570-5422
Source:
Clearwaterproperties
Added: Jan 26
Changed: Sep 8
Last Checked: Sep 9 at 7:05AM
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 Gallatin Realty Group
Investment Insights
Based on property information with market context.
A profitable specialty retail business, Montana Honey Bee Company, is available for purchase in Downtown Bozeman. The business has been operating for nine years and offers multiple types of jarred naturally flavored and chemical-free raw honey, along with fresh honey on tap, infused honey, and creamy honey. The retail store also offers honey bee-themed merchandise, including honey jars, coffee mugs, serving plates, and tea towels. The business provides equipment for hobby beekeepers, classes, honey tastings, and instruction on honey bee-related topics. The sale includes an assumable lease, inventory, website, domain name, and square point of sale system. The sellers are willing to train a new owner. Online sales contribute to profitability. The lower level can host larger classes, trainings, and tastings, and could be utilized as a commercial kitchen to promote honey or related products.
Key Highlights
- Profitable and thriving specialty retail business with established clientele in downtown Bozeman.
- Diverse revenue streams: retail store, online sales, classes, and honey tastings.
- Comprehensive inventory included: raw honey, bee‑themed merchandise, and beekeeping equipment.
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
Specialty Retail
$758.1K
$663.3K – $884.4K
NOI $53,064 @ 7.0% cap · market cap 9.65%
Second Best
Retail
$632.8K
$553.7K – $738.2K
NOI $44,294 @ 7.0% cap · market cap 8.05%
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
Property Profile
Current Use
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
Market
Vacancy Rate% for Retail in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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Frequently Asked Questions
What type of property is this?
Storefront property - Thriving specialty retail business in Downtown Bozeman with assumable lease.
Where is this storefront property located?
The property is located at 19 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: Profitable and thriving specialty retail business with established clientele in downtown Bozeman.; Diverse revenue streams: retail store, online sales, classes, and honey tastings.; Comprehensive inventory included: **raw honey, bee‑themed merchandise, and beekeeping equipment.**
