18-Unit Flex
For Sale
$9,300,000
96 Laura Louise Lane, Bozeman, MT 59718
CommercialSale, Bozeman, MT
Property Size42,846 SF
Lot Size2.00 Acres
Price / SF$217.06
Days on Market78
Property Features for 96 Laura Louise Lane
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
C
Directions
From Jackrabbit, turn west on Baxter, then right on Laura Louise Lane. Property will be on your right side.
Subdivision
2FC - Boz Area Four Corners
Standard status
Active
APN
RFF58229
Size
42,846 SF
Lot size
2.00 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
KENNEDY SUB, S35, T01 S, R04 E, BLOCK 1, Lot 2, ACRES 2, IN SE4, PLAT J-456
Tax Annual Amount
50230
HOA Fee
$600 Annually
Legal Description
KENNEDY SUB, S35, T01 S, R04 E, BLOCK 1, Lot 2, ACRES 2, IN SE4, PLAT J-456
Building Details
Year built
2018
Listing Agency:
Starner Commercial Real Estate
(406) 586-0302
Listed By:
Tom Starner · License #BRO-12265
(406) 539-0717
Added: Jun 17
Changed: Aug 19
Last Checked: Sep 2 at 8:06AM
MLS# 412149
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 2018, this fully leased flex property contains 18 units within 42,846 square feet. Most suites measure approximately 2,300 RSF, providing an efficient configuration for a broad range of commercial users. The property occupies 2 acres and offers a multi-suite layout suited to varied tenant requirements.
The building is located at 96 Laura Louise Lane in Bozeman, just north of the Baxter intersection along Jackrabbit. The site benefits from visibility along a section of Jackrabbit reporting average daily traffic above 20,000. Its fully leased status and established multi-unit occupancy provide a clear operating profile for a commercial property buyer.
The building is located at 96 Laura Louise Lane in Bozeman, just north of the Baxter intersection along Jackrabbit. The site benefits from visibility along a section of Jackrabbit reporting average daily traffic above 20,000. Its fully leased status and established multi-unit occupancy provide a clear operating profile for a commercial property buyer.
Key Highlights
- 18‑unit flex property totaling 42,846 square feet
- Fully leased building with established multi‑unit occupancy
- Most units measure approximately 2,300 RSF
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
$521,277
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
5.61%
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%
$10,425,540
$10.4M
Cap Rate 7%
$7,446,814
$7.4M
Cap Rate 9%
$5,791,967
$5.8M
Market Conditions
NOI Build-Up for 42,846 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
$858.6K $20.04/SF
− Vacancy
−$56.7K −$1.32/SF
EGI
$802.0K $18.72/SF
− OpEx
−$280.7K −$6.55/SF
NOI
$521.3K $12.17/SF
Area
Gallatin County, MT
Vacancy
6.60%
Lease Rate
$20.04 /SF/Yr
Expense Ratio
35.00%
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%
$10,425,540
Cap Rate 7%
$7,446,814
Cap Rate 9%
$5,791,967
Alternative Uses
Best Use
Flex RnD
$7.45M
$6.52M – $8.69M
NOI $521,277 @ 7.0% cap · market cap 5.61%
Second Best
Industrial
$6.36M
$5.56M – $7.42M
NOI $444,934 @ 7.0% cap · market cap 4.78%
Theoretical Best
Office A
$11.19M
$9.79M – $13.05M
NOI $783,156 @ 7.0% cap · market cap 8.42%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
18
Office units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
75
Businesses Nearby
Well-served
Demand for This Use
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 Industrial in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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Frequently Asked Questions
What type of property is this?
Flex space - Fully leased multi-suite building with efficient spaces suited to many commercial users.
Where is this flex space located?
The property is located at 96 Laura Louise Lane Bozeman, MT.
What is the asking price?
The asking price for this property is $9,300,000.
What are key features of this property?
This property features: 18‑unit flex property totaling 42,846 square feet; Fully leased building with established multi‑unit occupancy; Most units measure approximately 2,300 RSF
