Your AI Navigator in Commercial Real Estate
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
    Property profile & analytics

    Norris Rd Bozeman, MT 59715

    • Commercial land
    • 0.44 lot acres
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US52-0270404
    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

    • Commercial land

    Property Details for Norris Rd

    Lot size
    0.44 lot acres
    Property type
    Commercial land
    APN
    06-0797-11-4-21-11-0000
    APU
    6079711421110000

    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
    -111.189
    Latitude
    45.6717
    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
    $5,460
    $0.00
    $0.00
    $317,244
    -
    $317,244
    $0.00
    $317,244

    Comparable in this City

    • Value Estimation by Request
      7.35 Acres

      Main St

      VACANT COMMERCIAL LAND • 7.35 Acres
      Main St, Bozeman, MT 59715
      View Details
    • Value Estimation by Request
      1.34 Acres

      Nelson Rd

      VACANT COMMERCIAL LAND • 1.34 Acres
      Nelson Rd, Bozeman, MT 59715
      View Details
    • Value Estimation by Request
      2.04 Acres

      Stafford Ave

      VACANT COMMERCIAL LAND • 2.04 Acres
      Stafford Ave, Bozeman, MT 59715
      View Details
    • Value Estimation by Request
      2.34 Acres

      Stafford Ave

      VACANT COMMERCIAL LAND • 2.34 Acres
      Stafford Ave, Bozeman, MT 59715
      View Details
    • Value Estimation by Request
      0.72 Acres

      Technology Blvd

      VACANT COMMERCIAL LAND • 0.72 Acres
      Technology Blvd, Bozeman, MT 59715
      View Details
    • Value Estimation by Request
      5.50 Acres

      Frontage Rd

      VACANT COMMERCIAL LAND • 5.50 Acres
      Frontage Rd, Bozeman, MT 59715
      View Details

    Similar Nearby for Sale

    • $5,000,000

      Bozeman Midtown Development Opportunity

      1.447-acre infill site in Bozeman's Midtown Urban Renewal District.
      910 N 8Th Ave, Bozeman, MT 59715
      View Details
    • $1,100,000
      0.57 Acres

      High-Traffic Bozeman Commercial Land

      Prime land with high visibility, ideal for diverse development.
      N 19Th Ave, Bozeman, MT 59715
      View Details
    • $1,400,000
      3 SF

      Prime Commercial Spaces in Bozeman

      New ground floor commercial spaces in Bozeman's North Central District.
      311 Bozeman Ave, Bozeman, MT 59715
      View Details
    • Contact for pricing
      14,000 SF

      Bozeman Land on North 7th

      Land in TIF and Midtown Renewal District, Bozeman, MT.
      311 N 7Th Ave, Bozeman, MT 59715
      View Details
    • $699,000
      1.39 Acres

      Land Near Bozeman with Structures

      1.39 acres near Bozeman with existing structures and mountain views.
      34374 Frontage Rd, Bozeman, MT 59715
      View Details
    • $88,500

      Bozeman Commercial Parcel For Sale

      1.243-acre commercial parcel in Bozeman, Montana, for build-to-suit or ground lease.
      1340 E Main St, Bozeman, MT 59715
      View Details

    Similar Nearby for Lease

    • $32 SF/Yr
      2,405 SF

      Bozeman Office Space: Main Street Location

      Prime Bozeman Office, Retail, or Restaurant Space
      1624 Babcock St, Bozeman, MT 59715
      View Details
    • $22 SF/Yr
      1,616 SF

      Bozeman Office Space For Rent

      Office space available 06/01/2025 in Bozeman, MT.
      1001 W Oak St, Bozeman, MT 59715
      View Details
    • $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
    • $575 /Mo
      376 SF

      Bozeman Office Space For Rent

      Individual office space available for rent in Bozeman, Montana.
      220 W Lamme St, 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
    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.
    Norris Rd
    Bozeman, MT 59715
    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.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.