Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    214 Mendenhall St Bozeman, MT 59715-3638

    • Commercial real estate
    • 0.29 lot acres
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US52-0265750
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Gallatin Community Clinic: Pessl Liesl / Medical Clinic
    • Dr. Elizabeth A Stelz / Alternative Medicine Practice / Physician
    • Dr. Justin C. Eisel, MD / Physician
    • Dr. Christina M. Meyers, MD / Pediatrician / Physician
    • Alke Sarah K / Physician

    Property Details for 214 Mendenhall St

    Lot size
    0.29 lot acres
    Zone code
    6
    Property type
    Commercial real estate
    APN
    06-0799-07-2-20-28-0000
    APU
    6079907220280000

    Description

    This exceptional 2,300-square-foot Class A office space is available for lease in downtown Bozeman, Montana. Located at 214 E Mendenhall St, at the corner of N Bozeman Avenue, this single-tenant property offers unparalleled visibility and accessibility. Built in 1959 and situated on a single story, the building boasts a recent renovation, resulting in a bright and modern interior. The space features ten private offices, perfect for a variety of professional uses, complemented by open workspaces to foster collaboration. Amenities include a shared kitchen and conference room, an ensuite gender-neutral restroom, and two additional common area restrooms. The property's B3 zoning allows for a range of businesses. Its central location places it within walking distance of numerous restaurants, events, and both government and private sector offices, making it ideal for law firms, architects, engineers, and other service providers. Private access is available from the corner of Mendenhall Street and Bozeman Avenue, providing excellent signage opportunities on a heavily trafficked street. The total building size is 7,198 square feet. NNN expenses are estimated at $6.59 per square foot, and tenants will pay their pro rata share of utilities (approximately $350 monthly). The property's APN is 000RGH1652, located in Gallatin County, Montana, zip code 59715. There are no elevators.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Bozeman
    County
    Gallatin
    State
    Montana
    Longitude
    -111.033
    Latitude
    45.6807
    CBSA code
    14580
    CBSA name
    BOZEMAN, MT MICROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $7,147
    $0.00
    $0.00
    $793,869
    -
    $779,239
    $14,630
    $793,869

    Comparable in this City

    • Value Estimation by Request
      155.31 Acres

      3 Pass Rnch

      Land • 155.31 Acres
      3 Pass Rnch, Bozeman, MT 59715
      View Details
    • Value Estimation by Request

      1624 Babcock St

      Restaurants
      1624 Babcock St, Bozeman, MT 59715
      View Details
    • Value Estimation by Request
      1.88 Acres

      Bozeman, MT 59715

      COMMERCIAL (GENERAL) • 1.88 Acres
      Bozeman, MT 59715
      View Details
    • Value Estimation by Request
      2.43 Acres

      Bozeman, MT 59715

      COMMERCIAL (GENERAL) • 2.43 Acres
      Bozeman, MT 59715
      View Details
    • Value Estimation by Request

      Bozeman, MT 59715

      COMMERCIAL (GENERAL)
      Bozeman, MT 59715
      View Details
    • Value Estimation by Request
      10.00 Acres

      Mandeville Ln

      COMMERCIAL (GENERAL) • 10.00 Acres
      Mandeville Ln, Bozeman, MT 59715
      View Details

    Similar Nearby for Sale

    • $5,950,000
      13,823 SF

      Downtown Bozeman Investment Property

      Historic building, high-traffic location, strong tenants.
      9 Main St, Bozeman, MT 59715
      View Details
    • $1,005,000

      Bozeman Commercial Land - Oak St.

      14,350 SF Buildable Lot, Prime Location
      0 Tbd Oak St, Bozeman, MT 59715
      View Details
    • $1,350,000
      3,904 SF

      Bozeman Commercial Gem: Prime Location

      3,904 sq ft, B2 Zoned, Investment Opportunity
      1602 Beall St, Bozeman, MT 59715
      View Details
    • $2,850,000
      72.47 Acres

      Bozeman Commercial Land - 72 Acres

      Prime Montana commercial land, stunning views.
      0 Pass, Bozeman, MT 59715
      View Details
    • $399,000
      1,000 SF

      Bozeman Cupcake Shop For Sale

      Thriving bakery, turnkey operation, established brand.
      218 7Th Ave, Bozeman, MT 59715
      View Details
    • $6,995,000
      158.79 Acres

      Bozeman Ranch Land - $6.995M

      158 Acres, Gated Luxury Ranch
      4 Pass Rnch, Bozeman, MT 59715
      View Details

    Similar Nearby for Lease

    • $30 SF/Yr
      2,559 SF

      East Main Retail/Office Space

      Shell space ready for customized buildout near downtown Bozeman.
      1101 E Main St, Bozeman, MT 59715
      View Details
    • $30 SF/Yr
      742 SF

      Bozeman Office Space For Rent

      Modern office space in Bozeman with private parking.
      424 Bozeman Ave, Bozeman, MT 59715
      View Details
    • $19 SF/Yr

      Downtown Bozeman Office Space Available

      Office units for rent in historic downtown Bozeman building.
      15 S Tracy Ave, Bozeman, MT 59715
      View Details
    • $595 /Mo
      273 SF

      Downtown Bozeman Office Space Available

      Individual office space in the heart of Downtown Bozeman.
      7 W Main St, Bozeman, MT 59715
      View Details
    • $24 SF/Yr
      6,200 SF

      Bozeman Office Space for Lease

      Prime Bozeman location, multiple suites available.
      1001 Oak St, Bozeman, MT 59715
      View Details
    • $25 SF/Yr
      12,000 SF

      Bozeman Office Property For Lease

      Office property in quiet Bozeman location with mountain views.
      701 Gold Ave, Bozeman, MT 59715
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    214 Mendenhall St
    Bozeman, MT 59715-3638
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.