Office/Storefront Condo with
For Sale
$315,000
Pending
2352 Vaquero Parkway 108, Bozeman, MT 59718
Commercial condo with kitchenette, private bath with shower, large storefront windows, and vaulted ceilings plus loft space.
Property Size635 SF
Days on Market97
Property Features for 2352 Vaquero Parkway 108
General Information
Standard status
Pending
Size
635 SF
Property subtype
Commercial
Zoning
B2
Taxes and HOA fees
Annual Taxes
$2,216
Building Details
Building Size
635 SF
Year Built
2024
Listing Agency:
18 Land Company
(406) 995-2404
Listed By:
Eli Kretzmann
(208) 507-1613
Source:
Outlaw
Added: Jun 1
Changed: Sep 4
Last Checked: Sep 5 at 4:04AM
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 18 Land Company
Investment Insights
Based on property information with market context.
This commercial condo unit is configured for flexible use and includes a kitchenette and a bathroom with a shower. The space features large storefront windows and vaulted ceilings, along with an added loft area that can support additional storage or workspace.
The unit is located in the Baxter Meadows Commercial Subdivision with easy access to Baxter Lane. It sits among residential properties and schools, which can support a variety of storefront and professional service needs.
The property is described as having zero common load, and the offering also notes plenty of parking. According to the remarks, this unit has only had one previous user.
The unit is located in the Baxter Meadows Commercial Subdivision with easy access to Baxter Lane. It sits among residential properties and schools, which can support a variety of storefront and professional service needs.
The property is described as having zero common load, and the offering also notes plenty of parking. According to the remarks, this unit has only had one previous user.
Key Highlights
- New commercial condo built in 2024
- Kitchenette and private bathroom with shower
- Large storefront windows and vaulted ceilings
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
$9,341
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
2.97%
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%
$186,820
$186.8K
Cap Rate 7%
$133,443
$133.4K
Cap Rate 9%
$103,789
$103.8K
Market Conditions
NOI Build-Up for 635 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
$13.3K $21.00/SF
− Vacancy
−$880 −$1.39/SF
EGI
$12.5K $19.61/SF
− OpEx
−$3.1K −$4.90/SF
NOI
$9.3K $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%
$186,820
Cap Rate 7%
$133,443
Cap Rate 9%
$103,789
Alternative Uses
Best Use
Office B
$133.4K
$116.8K – $155.7K
NOI $9,341 @ 7.0% cap · market cap 2.97%
Second Best
Retail
$106.3K
$93.0K – $124.0K
NOI $7,441 @ 7.0% cap · market cap 2.36%
Theoretical Best
Office A
$165.8K
$145.1K – $193.5K
NOI $11,607 @ 7.0% cap · market cap 3.68%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
160
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 - Commercial condo with kitchenette, private bath with shower, large storefront windows, and vaulted ceilings plus loft space.
Where is this office units located?
The property is located at 2352 Vaquero Parkway 108 Bozeman, MT.
What is the asking price?
The asking price for this property is $315,000.
What are key features of this property?
This property features: New commercial condo built in 2024; Kitchenette and private bathroom with shower; Large storefront windows and vaulted ceilings
