Retail Space with Commercial
New
For Sale
$849,000
2405 W Main Street, Bozeman, MT 59718
CommercialSale, Bozeman, MT
Property Size1,754 SF
Price / SF$484.04
Days on Market5
Property Features for 2405 W Main Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
B2M
Bathrooms
1
Full bathrooms
1
Rooms
Bathroom 1
Directions
W Main St
Subdivision
1NW - Boz N of Main/W of 19th
Standard status
Active
APN
RGG38887
Size
1,754 SF
Taxes and HOA fees
Tax Year
2025
Tax Description
OAKWOOD SQUARE CONDO, S11, T02 S, R05 E, UNIT 6
Tax Annual Amount
3236
HOA Fee
$664 Quarterly
Legal Description
OAKWOOD SQUARE CONDO, S11, T02 S, R05 E, UNIT 6
Utilities
Heating system
Natural Gas, Forced Air
Cooling system
Varies by Unit
Amenities
wired-in sound
ceiling-mounted camera for projection
monitored security system
Building Details
Year built
1995
Listing Agency:
Berkshire Hathaway - Bozeman · Berkshire Hathaway HomeServices
(406) 586-7676
Listed By:
DeeAnn Bos · License #BRO-62247
(406) 580-7919
Added: Sep 10
Changed: Sep 11
Last Checked: Sep 14 at 8:06PM
MLS# 414175
Copyright © 2026 Big Sky Country MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 1,754-square-foot retail space at 2405 W Main Street combines a showroom-oriented sales area with a professionally equipped kitchen. The kitchen includes a freestanding convection oven, gas range/oven, commercial dishwasher, refrigerator, freezer, microwave/convection/air-fryer unit, commercial range hood, cabinetry, and storage. Gallatin County approval supports food-related operations. Natural light, quality finishes, wired-in sound, a ceiling-mounted projection camera, and a monitored security system are also part of the property. Constructed in 1995, the space includes one bathroom and uses natural gas and forced-air heating.
The Bozeman property provides on-site parking and a flexible commercial configuration. Its existing improvements can accommodate retail presentation, a café or restaurant concept, specialty food operations, culinary instruction, demonstrations, showroom use, studio activity, or professional office functions, subject to applicable requirements.
The Bozeman property provides on-site parking and a flexible commercial configuration. Its existing improvements can accommodate retail presentation, a café or restaurant concept, specialty food operations, culinary instruction, demonstrations, showroom use, studio activity, or professional office functions, subject to applicable requirements.
Key Highlights
- 1,754 SF retail space at 2405 W Main Street, Bozeman, MT 59718
- Commercial kitchen approved by Gallatin County
- Includes convection oven, gas range/oven, dishwasher, refrigerator, freezer, and commercial hood
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
$24,623
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
2.90%
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%
$492,460
$492.5K
Cap Rate 7%
$351,757
$351.8K
Cap Rate 9%
$273,589
$273.6K
Market Conditions
NOI Build-Up for 1,754 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
$35.2K $20.04/SF
− Vacancy
−$2.3K −$1.32/SF
EGI
$32.8K $18.72/SF
− OpEx
−$8.2K −$4.68/SF
NOI
$24.6K $14.04/SF
Area
Gallatin County, MT
Vacancy
6.60%
Lease Rate
$20.04 /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%
$492,460
Cap Rate 7%
$351,757
Cap Rate 9%
$273,589
Alternative Uses
Best Use
Specialty Retail
$351.8K
$307.8K – $410.4K
NOI $24,623 @ 7.0% cap · market cap 2.90%
Second Best
Retail
$293.6K
$256.9K – $342.6K
NOI $20,553 @ 7.0% cap · market cap 2.42%
Theoretical Best
Office A
$458.0K
$400.8K – $534.3K
NOI $32,060 @ 7.0% cap · market cap 3.78%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
Yes
Commercial hood
Location Intelligence
Trade Area within ½ mile
1,365
Businesses Nearby
230k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Groceries 34%
Dining 25%
Shops & Services 19%
Leisure 14%
Safeway
Groceries
42,214 visits/mo
0.5 miles
Albertsons
Groceries
35,065 visits/mo
0.2 miles
Regal Cinemas Gallatin Valley Stadium 11
Leisure
33,006 visits/mo
0.4 miles
Taco Bell
Dining
18,036 visits/mo
0.5 miles
Panda Express
Dining
17,910 visits/mo
0.3 miles
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Retail space - Light-filled commercial space with an approved kitchen, customer parking, and adaptable retail or food-service functionality.
Where is this retail space located?
The property is located at 2405 W Main Street Bozeman, MT.
What is the asking price?
The asking price for this property is $849,000.
What are key features of this property?
This property features: 1,754 SF retail space at 2405 W Main Street, Bozeman, MT 59718; Commercial kitchen approved by Gallatin County; Includes convection oven, gas range/oven, dishwasher, refrigerator, freezer, and commercial hood
