Live-Work Flex
New
For Sale
$859,555
2605 Fremont Street, Bozeman, MT 59718
Bozeman, MT
Property Size2,671 SF
Price / SF$321.81
Days on Market1
Property Features for 2605 Fremont Street
General Information
Property type
Commercial Sale
Property subtype
Condominium
Bedrooms
2
Bathrooms
3
Full bathrooms
3
Rooms
Bedroom 1, Bedroom 2
Subdivision
Fremont Square Condos
Standard status
Active
Size
2,671 SF
Building Details
Year built
2026
Listing Agency:
Engel & Volkers Bozeman · Engel & Völkers
(406) 404-1960
Listed By:
Kari Francisco · License #RRE-RBS-LIC-99175
(406) 595-3885
Added: Sep 8
Last Checked: Sep 8 at 4:06PM
MLS# 408142
Copyright © 2026 Engel & Völkers. 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 2026, this approximately 2,671-square-foot live-work property combines a commercial ground floor with adaptable space above. The lower level contains about 1,286 SF, 15-foot ceilings, a 12' x 14' overhead door with pull-through access, and an ADA-compliant bathroom. Upstairs, approximately 1,385 SF includes two bedrooms and an open flex room that may serve as office or living space, along with a 230-square-foot south-facing deck.
The property is located on Jackrabbit Lane near the Jackrabbit Crossing development, with access to I-90 and the communities of Bozeman, Belgrade, and Big Sky. Its configuration supports trades, small businesses, hobby use, owner-operated businesses, and light industrial activities as described for the property.
The property is located on Jackrabbit Lane near the Jackrabbit Crossing development, with access to I-90 and the communities of Bozeman, Belgrade, and Big Sky. Its configuration supports trades, small businesses, hobby use, owner-operated businesses, and light industrial activities as described for the property.
Key Highlights
- Approximately 2,671 square feet across two levels
- 1,286+/- SF commercial main level with 15‑foot ceilings
- 12' x 14' overhead door with pull‑through garage access
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
$39,292
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
4.57%
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%
$785,840
$785.8K
Cap Rate 7%
$561,314
$561.3K
Cap Rate 9%
$436,578
$436.6K
Market Conditions
NOI Build-Up for 2,671 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
$56.1K $21.00/SF
− Vacancy
−$3.7K −$1.39/SF
EGI
$52.4K $19.61/SF
− OpEx
−$13.1K −$4.90/SF
NOI
$39.3K $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%
$785,840
Cap Rate 7%
$561,314
Cap Rate 9%
$436,578
Alternative Uses
Best Use
Office B
$561.3K
$491.2K – $654.9K
NOI $39,292 @ 7.0% cap · market cap 4.57%
Second Best
Mixed Use
$524.9K
$459.3K – $612.3K
NOI $36,740 @ 7.0% cap · market cap 4.27%
Theoretical Best
Office A
$697.5K
$610.3K – $813.7K
NOI $48,822 @ 7.0% cap · market cap 5.68%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
15 ft
Clear height
1
Drive-in doors
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
28
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?
Live-work space - Two-level layout pairs a commercial workspace with adaptable upper-floor rooms and a private deck.
Where is this live-work space located?
The property is located at 2605 Fremont Street Bozeman, MT.
What is the asking price?
The asking price for this property is $859,555.
What are key features of this property?
This property features: Approximately 2,671 square feet across two levels; 1,286+/- SF commercial main level with 15‑foot ceilings; 12' x 14' overhead door with pull‑through garage access
