Office Condo With Four
For Sale
$365,000
2137 Durston #25, Bozeman, MT 59718
Configured with a reception area, kitchen, and private bathroom, with an in-place lease extending through October 2027.
Property Size970 SF
Price / SF$376.29
Days on Market273
Property Features for 2137 Durston #25
General Information
Standard status
Active
Size
970 SF
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$3,201
Building Details
Building Size
970 SF
Year Built
2005
Tenancy
Single
Listing Agency:
RE/MAX Legacy
(406) 586-3092
Listed By:
Laurita Green · License #BRO-6654
(406) 586-3092
Source:
Avatarrealtymt
Added: Nov 20, 2025
Changed: Aug 13
Last Checked: Aug 20 at 2:15PM
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 970-square-foot office condominium was built in 2005 and includes four private offices, a large reception area, a kitchen, and a private bathroom. The configuration provides a defined combination of work areas and shared support space within a single office unit.
The property is located at 2137 Durston #25 in Bozeman, Montana. A current lease is scheduled to expire in October 2027, and property management is provided by Platinum Property Managemant Company.
The property is located at 2137 Durston #25 in Bozeman, Montana. A current lease is scheduled to expire in October 2027, and property management is provided by Platinum Property Managemant Company.
Key Highlights
- 970 square feet of office space
- Four private offices with a large reception area
- Kitchen and private bathroom included
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
$14,269
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
3.91%
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%
$285,380
$285.4K
Cap Rate 7%
$203,843
$203.8K
Cap Rate 9%
$158,544
$158.5K
Market Conditions
NOI Build-Up for 970 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
$20.4K $21.00/SF
− Vacancy
−$1.3K −$1.39/SF
EGI
$19.0K $19.61/SF
− OpEx
−$4.8K −$4.90/SF
NOI
$14.3K $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%
$285,380
Cap Rate 7%
$203,843
Cap Rate 9%
$158,544
Alternative Uses
Best Use
Office B
$203.8K
$178.4K – $237.8K
NOI $14,269 @ 7.0% cap · market cap 3.91%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$253.3K
$221.6K – $295.5K
NOI $17,730 @ 7.0% cap · market cap 4.86%
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
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Office units - Configured with a reception area, kitchen, and private bathroom, with an in-place lease extending through October 2027.
Where is this office units located?
The property is located at 2137 Durston #25 Bozeman, MT.
What is the asking price?
The asking price for this property is $365,000.
What are key features of this property?
This property features: 970 square feet of office space; Four private offices with a large reception area; Kitchen and private bathroom included
