Office Condo with Private
For Sale
$425,000
626 S Ferguson, Bozeman, MT 59718
CommercialSale, Bozeman, MT
Property Size1,249 SF
Price / SF$340.27
Days on Market142
Property Features for 626 S Ferguson
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
B1
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 1, Bathroom 2
Directions
Ferguson to Pinewood Professional Center. First left. Unit is next to chiropractic office.
Subdivision
1NW - Boz N of Main/W of 19th
Standard status
Active
APN
RGG46085
Size
1,249 SF
Taxes and HOA fees
Tax Year
2025
Tax Description
PINEWOOD PROF CENTER CONDO, S10, T02 S, R05 E, UNIT 27
Tax Annual Amount
3029
HOA Fee
$254 Monthly
Legal Description
PINEWOOD PROF CENTER CONDO, S10, T02 S, R05 E, UNIT 27
Utilities
Sewer type
Public Sewer
Heating system
Forced Air
Cooling system
Central Air
Water source
Public
Building Details
Year built
2001
Listing Agency:
Hart Real Estate
(406) 585-0000
Listed By:
Lori Hart · License #BRO-62814
(406) 599-6961
Added: Apr 27
Changed: Sep 12
Last Checked: Sep 15 at 1:06AM
MLS# 410601
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 1,249-square-foot office condominium, built in 2001, combines three private offices with a reception area, break room, and two bathrooms. Interior updates include newer paint, carpeting, and a water heater. Forced-air heating and central air provide building systems suited to professional office use.
Two counseling-business tenants are in place under NNN leases, creating an occupied configuration for an owner or investor. The property includes signage visibility on Ferguson Ave and on-site parking, with public water and public sewer serving the building.
Two counseling-business tenants are in place under NNN leases, creating an occupied configuration for an owner or investor. The property includes signage visibility on Ferguson Ave and on-site parking, with public water and public sewer serving the building.
Key Highlights
- 1,249‑square‑foot office condominium built in 2001
- Three private offices, reception area, break room, and two bathrooms
- Two counseling‑business tenants occupy the property under NNN leases
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
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Open Analytics
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
614
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in West region
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Frequently Asked Questions
What type of property is this?
Office units - Office condominium with existing NNN leases, reception space, and refreshed interior finishes.
Where is this office units located?
The property is located at 626 S Ferguson 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: 1,249‑square‑foot office condominium built in 2001; Three private offices, reception area, break room, and two bathrooms; Two counseling‑business tenants occupy the property under NNN leases
