Turnkey Office Condo with
For Sale
$425,000
4-626 S Ferguson Ave, Bozeman, MT 59718
Turnkey office condo with three private offices, reception area, and break room, plus signage visibility and parking.
Property Size1,249 SF
Price / SF$340.27
Days on Market118
Property Features for 4-626 S Ferguson Ave
General Information
Standard status
Active
Size
1,249 SF
Occupancy
100%
Additional Details
Business Included
Yes
Taxes and HOA fees
Annual Taxes
$3,029
Building Details
Tenancy
Multi
Listing Agency:
Hart Real Estate
(406) 599-6961
Listed By:
Lori Hart · License #BRO-62814
(406) 599-6961
Source:
Exprealty
Added: Apr 27
Changed: Aug 20
Last Checked: Aug 22 at 11:06AM
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 Hart Real Estate
Investment Insights
Based on property information with market context.
This professionally configured office condo is designed for a straightforward owner-user or investment setup, with a reception area, a functional break room, and three private offices. The space has been refreshed with newer paint and carpeting, and the water heater has also been updated, helping minimize near-term transitions for a new tenant or business.
Positioned along Ferguson Ave, the property provides signage visibility and benefits from plenty of on-site parking. It is offered as part of a multi-tenant configuration where two other tenants are already in place with counseling businesses, and those leases are described as NNN.
For an owner-user, the layout supports a reception-first workflow with multiple dedicated rooms for client meetings or staff offices. For an investor, the current tenant structure provides an opportunity to own an income-producing office condo alongside an owner-occupied option, with seller financing potentially available to a qualified buyer with an acceptable offer. The convenience to services and arterials adds to the day-to-day usability for staff and clients.
Positioned along Ferguson Ave, the property provides signage visibility and benefits from plenty of on-site parking. It is offered as part of a multi-tenant configuration where two other tenants are already in place with counseling businesses, and those leases are described as NNN.
For an owner-user, the layout supports a reception-first workflow with multiple dedicated rooms for client meetings or staff offices. For an investor, the current tenant structure provides an opportunity to own an income-producing office condo alongside an owner-occupied option, with seller financing potentially available to a qualified buyer with an acceptable offer. The convenience to services and arterials adds to the day-to-day usability for staff and clients.
Key Highlights
- Professional office condo with signage visibility on Ferguson Ave
- Spacious office layout with reception area and 3 private offices
- Includes a functional break room
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
$18,373
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
4.32%
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%
$367,460
$367.5K
Cap Rate 7%
$262,471
$262.5K
Cap Rate 9%
$204,144
$204.1K
Market Conditions
NOI Build-Up for 1,249 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
$26.2K $21.00/SF
− Vacancy
−$1.7K −$1.39/SF
EGI
$24.5K $19.61/SF
− OpEx
−$6.1K −$4.90/SF
NOI
$18.4K $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%
$367,460
Cap Rate 7%
$262,471
Cap Rate 9%
$204,144
Alternative Uses
Best Use
Office B
$262.5K
$229.7K – $306.2K
NOI $18,373 @ 7.0% cap · market cap 4.32%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$326.1K
$285.4K – $380.5K
NOI $22,830 @ 7.0% cap · market cap 5.37%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
100%
Occupancy
Multi-tenant
Tenancy
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
650
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Office units - Turnkey office condo with three private offices, reception area, and break room, plus signage visibility and parking.
Where is this office units located?
The property is located at 4-626 S Ferguson Ave Bozeman, MT.
What is the asking price?
The asking price for this property is $425,000.
What are key features of this property?
This property features: Professional office condo with signage visibility on Ferguson Ave; Spacious office layout with reception area and 3 private offices; Includes a functional break room
