Bozeman Office Suite For
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2135 Charlotte Street Unit #7B, Bozeman, MT 59718
Efficient office suite in central Bozeman with ample parking.
Property Size488 SF
Price / SF$512.30
Days on Market179
Property Features for 2135 Charlotte Street Unit #7B
General Information
Standard status
Active
Size
488 SF
Property subtype
Special Purpose
Listing Agency:
CENTURY 21 HMR
Listed By:
Joseph Coombs · License #MT RRE-BRO-LLC 71302
Source:
Crexi
Added: Feb 25
Changed: Aug 8
Last Checked: Jul 22 at 5:38PM
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 CENTURY 21 HMR
Investment Insights
Based on property information with market context.
This office suite offers approximately 488 square feet of space in central Bozeman. The layout includes a reception area and two private offices. A half bathroom with two storage cabinets is also included. The building is part of a professionally managed condo association. The exterior is in excellent condition, and a large parking lot provides ample parking. Located off N. 19th, the property offers access to thoroughfares.
Key Highlights
- Central Bozeman location with easy access to major thoroughfares.
- Professionally managed condo association ensuring a well‑maintained environment.
- Move‑in ready with reception area and two private offices.
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
$7,179
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
2.87%
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%
$143,580
$143.6K
Cap Rate 7%
$102,557
$102.6K
Cap Rate 9%
$79,767
$79.8K
Market Conditions
NOI Build-Up for 488 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
$10.2K $21.00/SF
− Vacancy
−$676 −$1.39/SF
EGI
$9.6K $19.61/SF
− OpEx
−$2.4K −$4.90/SF
NOI
$7.2K $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%
$143,580
Cap Rate 7%
$102,557
Cap Rate 9%
$79,767
Alternative Uses
Best Use
Office B
$102.6K
$89.7K – $119.7K
NOI $7,179 @ 7.0% cap · market cap 2.87%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$127.4K
$111.5K – $148.7K
NOI $8,920 @ 7.0% cap · market cap 3.57%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,221
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 - Efficient office suite in central Bozeman with ample parking.
Where is this office units located?
The property is located at 2135 Charlotte Street Unit #7B Bozeman, MT.
What is the asking price?
The asking price for this property is $250,000.
What are key features of this property?
This property features: Central Bozeman location with easy access to major thoroughfares.; Professionally managed condo association ensuring a well‑maintained environment.; Move‑in ready with reception area and two private offices.
