Building Details

Year built 2006

Listing Agency: Starner Commercial Real Estate i***@genecookrealestate.com Show Phone

Listed By: Michael Reams · License #BRO-79158 Show Phone

Added: Mar 25 Changed: Aug 19 Last Checked: Oct 9 at 7:06AM

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MLS# 409697

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.

Built in 2006, this two-story office building provides 10,104 square feet on approximately 0.84 acres. The interior includes 21 private offices, four open work areas, a conference room, break room, recording studio, green room, five restrooms, mechanical and storage rooms, and a reception area. An elevator and two stairwells connect the floors. The configuration supports either single-tenant occupancy or multiple users, while a fire suppression system and Four Corners Water & Sewer serve the property. The building is described as being in good condition with no known deferred maintenance.

The property is located at 243 Pegasus Drive in the Galactic Park Subdivision of Four Corners, west of Bozeman. Its low-traffic setting is near the Gallatin River and surrounded by high-end homes, with Zoot Enterprises, Mesa Labs, and Wildfire Defense Systems identified among nearby employers.

Key Highlights

• 10,104‑square‑foot office building on approximately 0.84 acres
• Built in 2006 with 21 private offices and four open work areas
• Conference room, break room, recording studio, green room, and five restrooms

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$148,635

Cap Rate

5.95%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$2,972,700 $3.0M

Cap Rate 7%

$2,123,357 $2.1M

Cap Rate 9%

$1,651,500 $1.7M

Market Conditions

NOI Build-Up for 10,104 SF

Gross rent

$212.2K $21.00/SF

− Vacancy

−$14.0K −$1.39/SF

EGI

$198.2K $19.61/SF

− OpEx

−$49.5K −$4.90/SF

NOI

$148.6K $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 Rate 5%

$2,972,700

Cap Rate 7%

$2,123,357

Cap Rate 9%

$1,651,500

Alternative Uses

Best Use

Office B

$2.12M

$1.86M – $2.48M (±1% cap)

NOI $148,635 @ 7.0% cap · market cap 5.95%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$2.64M

$2.31M – $3.08M (±1% cap)

NOI $184,685 @ 7.0% cap · market cap 7.39%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

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Open Analytics

Current Use

Western CPE Training Center

Suggested Use

Top Pick Parking Lot & Garage Dental Office Pharmacy Grocery & Convenience Store Bakery (Bike/Boat/Book/etc) Store

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

Yes

Sprinkler system

Yes

Utilities to site

Location Intelligence

Trade Area within ½ mile

101

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

11% 2019

14.1% 2020

15.5% 2021

17.2% 2022

19.9% 2023

21% 2024

20.8% 2025

Questions? Ask Rey

Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.

What type of property is this? Where is this office buildings located? What is the asking price? Find similar properties What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Office building - Flexible office layout with private rooms, open work areas, conference facilities, and multi-tenant capability.

Where is this office building located?

The property is located at 243 Pegasus Drive Bozeman, MT.

What is the asking price?

The asking price for this property is $2,500,000.

What are key features of this property?

This property features: 10,104‑square‑foot office building on approximately 0.84 acres; Built in 2006 with 21 private offices and four open work areas; Conference room, break room, recording studio, green room, and five restrooms