Building Details

Building Size 1,824 SF

Year Built 2022

Listing Agency: Tamara Williams and Company Show Phone

Listed By: George Vincent Show Phone

Source: Outlaw

Added: Aug 28 Changed: Oct 11 Last Checked: Oct 16 at 6:46AM

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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 Tamara Williams and Company

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Investment Insights

Based on property information with market context.

This commercial condominium, completed in 2022, combines a substantial bay area with an upper loft and a 14-foot bay door. Ceiling height is reported at 21 feet, providing useful vertical clearance within the main work area. The property is identified as CI-zoned and is expressly not configured as a live-work residence.

Located southwest of 4 Corners, the property provides a dedicated commercial setting for an owner or operator seeking adaptable flex space. The combination of a ground-level bay and elevated loft creates separated areas within the unit for business operations, storage, or other functions supported by the property’s configuration.

Key Highlights

• Commercial condominium completed in 2022
• 14‑foot bay door
• 21‑foot ceilings

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$23,000

Cap Rate

4.65%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$460,000 $460.0K

Cap Rate 7%

$328,571 $328.6K

Cap Rate 9%

$255,556 $255.6K

Is this asking price fair?

Market Conditions

NOI Build-Up for 1,824 SF

Gross rent

$27.4K $15.00/SF

− Vacancy

−$301 −$0.17/SF

EGI

$27.1K $14.83/SF

− OpEx

−$4.1K −$2.23/SF

NOI

$23.0K $12.61/SF

Area

Gallatin County, MT

Vacancy

1.10%

Lease Rate

$15.00 /SF/Yr

Expense Ratio

15.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$460,000

Cap Rate 7%

$328,571

Cap Rate 9%

$255,556

Alternative Uses

Best Use

Warehouse

$328.6K

$287.5K – $383.3K (±1% cap)

NOI $23,000 @ 7.0% cap · market cap 4.65%

Second Best

Flex RnD

$317.0K

$277.4K – $369.9K (±1% cap)

NOI $22,191 @ 7.0% cap · market cap 4.48%

Theoretical Best

Office A

$476.3K

$416.8K – $555.7K (±1% cap)

NOI $33,340 @ 7.0% cap · market cap 6.74%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Mountain Air Systems HVAC Service Willy Mo's BBQ Take-out & Catering AMBIANCE Home Appliance Store

Suggested Use

Top Pick Dental Office Law Firm Parking Lot & Garage Pharmacy Grocery & Convenience Store Bakery

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

21 ft

Clear height

1

Drive-in doors

Location Intelligence

Trade Area within ½ mile

501

Businesses Nearby

Well-served

Demand for This Use

Explore this area Business Placement

Market

Vacancy Rate% for Industrial in West region

3.7% 2019

4.3% 2020

2.6% 2021

2.5% 2022

4.8% 2023

6.9% 2024

7.9% 2025

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Similar Off Market Nearby

• Sadie's Catering — 439 Lower Rainbow Rd, Bozeman, MT 59718
• Willy Mo's BBQ — 233 Graves Trail Unit E, Bozeman, MT 59718
• Gallatin Valley Catering — 81820 Gallatin Rd, Bozeman, MT 59718
• Wild Chef — 7540 Pioneer Way, Bozeman, MT 59718

Frequently Asked Questions

What type of property is this?

Flex space - Commercial condominium offering a high-clearance bay, loft area, and CI zoning for flexible business use.

Where is this flex space located?

The property is located at 233 Graves Trail Bozeman, MT.

What is the asking price?

The asking price for this property is $495,000.

What are key features of this property?

This property features: Commercial condominium completed in 2022; 14‑foot bay door; 21‑foot ceilings