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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    241 Main St Bozeman, MT 59715-4747

    • Retail space
    • 6,500 SF
    • 0.17 lot acres
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US52-0162842
    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

    • Open Range / American Restaurant / Bar

    Property Details for 241 Main St

    Year built
    1927
    Construction
    WOOD
    Lot size
    0.17 lot acres
    Property size
    6,500 SF
    Zone code
    6
    Property type
    Retail space
    APN
    06-0799-07-2-13-20-0000
    APU
    6079907213200000

    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
    45.6797
    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
    $43,447
    $0.00
    $0.00
    $4,830,200
    -
    $2,919,710
    $1,910,490
    $4,830,200

    Comparable in this City

    • Value Estimation by Request
      10,200 SF

      311 7th Ave

      RETAIL STORES (PERSONAL SERVICES) • 10,200 SF
      311 7th Ave, Bozeman, MT 59715-3307
      View Details
    • Value Estimation by Request
      10,650 SF

      42 Main St

      RETAIL STORES (PERSONAL SERVICES) • 10,650 SF
      42 Main St, Bozeman, MT 59715-4643
      View Details
    • Value Estimation by Request
      4,900 SF

      29 Main St

      RETAIL STORES (PERSONAL SERVICES) • 4,900 SF
      29 Main St, Bozeman, MT 59715-5353
      View Details
    • Value Estimation by Request
      19,720 SF

      24 Main St

      RETAIL STORES (PERSONAL SERVICES) • 19,720 SF
      24 Main St, Bozeman, MT 59715-4758
      View Details
    • Value Estimation by Request
      25,302 SF

      1891 Boothill Ct

      RETAIL STORES (PERSONAL SERVICES) • 25,302 SF
      1891 Boothill Ct, Bozeman, MT 59715-7245
      View Details
    • Value Estimation by Request
      6,348 SF

      1013 College St

      RETAIL STORES (PERSONAL SERVICES) • 6,348 SF
      1013 College St, Bozeman, MT 59715-5025
      View Details

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      Historic Nash-Finch Building For Sale

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      Retail Property with Beer & Wine

      Retail property suitable for beer and wine sales.
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      Turnkey Bakery Business Opportunity

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      Historic Downtown Bozeman Investment Opportunity

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    Similar Nearby for Lease

    • $30 SF/Yr
      1,826 SF

      Retail Space Near Downtown Bozeman

      Retail space with open floor plan, changing rooms, and restroom.
      1101 E Main St, Bozeman, MT 59715
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    • Contact for pricing
      235,000 SF

      Redeveloped Mixed-Use Lifestyle Center

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    • $50 SF/Yr
      1,927 SF

      Downtown Bozeman Retail Space Available

      Prime ground floor retail space in the heart of Downtown Bozeman.
      9 E Main St, Bozeman, MT 59715
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    • $35 SF/Yr
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      Prime Commercial Space in Bozeman

      High-visibility commercial space with retail, office, and gym potential.
      448 Bozeman Ave, Bozeman, MT 59715
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      East Main Retail/Office Space

      Shell space ready for customized buildout near downtown Bozeman.
      1101 E Main St, Bozeman, MT 59715
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    • $18 SF/Yr
      10,880 SF

      Versatile Commercial Building, Bozeman, MT

      Adaptable commercial space suitable for diverse business ventures.
      2015 Wheat Dr, Bozeman, MT 59715
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    Property Visit Statistics

    • Visits by month
      2.1k
    • Visitors by month
      1.9k
    • Avg Time on site
      44 min
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    241 Main St
    Bozeman, MT 59715-4747
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    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
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