351 Evergreen DrBozeman, MT 59715

Property Details for 351 Evergreen Dr

Year built

2017

Construction

WOOD

Lot size

0.82 AC

Property size (Sq ft)

7,643 SF

Zone code

5

Property type

Office buildings

APN

06-0799-06-2-04-02-0000

APU

6079906204020000

Description

This exceptional investment opportunity presents a single-story, 7,805-square-foot Class B office building in Bozeman, Montana, situated on a 0.818-acre lot at 351 Evergreen Drive, 59715. The property, built in 2017 and zoned M2, features two suites. Suite A, approximately 4,045 square feet, is currently vacant and offers multiple offices, a conference room, restrooms, and break areas. Suite B, comprising approximately 3,760 square feet, includes lab space, offices, restrooms, and a break room. Suite B is under a triple-net (NNN) lease expiring September 30, 2027, generating an annual net operating income (NOI) of $75,192 at a rate of $20 per square foot. The building boasts 24 parking stalls and enjoys convenient access to Interstate 90 and downtown Bozeman, approximately 2.3 miles away. This owner-user opportunity allows for immediate occupancy of the vacant suite while benefiting from existing rental income. The property's strategic location and quality construction make it an attractive investment for those seeking a blend of open workspace and dedicated offices. The asking price is $2,300,000. The property's parcel number (APN) is 000RGG1183.

• CAP approach

  CAP return

  Valuation

  6%

  $1,366,839

  6.5%

  $1,261,698

  7%

  $1,171,576

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,629,564

  Geo Method

  $1,629,564

• Alternative Use

  Use

  Valuation

  Residential

  $1,564,505

  Hospitality

  $1,433,078

  Educational

  $1,192,304

  Medical

  $1,233,309

  Retail

  $1,854,695

Location Insight

City

Bozeman

County

Gallatin

State

Montana

Latitude

45.697

Longitude

-111.042

CBSA code

14580

CBSA name

BOZEMAN, MT MICROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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