81211 Gallatin Road, Bozeman, MT

About this property

81211–81213 Gallatin Road Bozeman, Montana 59718 Offered At $9,900,000. 7.74% Cap Rate Commercial Income Property with Development Upside Located less than one mile south of the Four Corners intersection along the west side of US Highway 191, this 33,400-square-foot commercial property offers stabilized income, long-term tenancy, and meaningful upside through future development. The property consists of five condominium units situated on 2.777 acres across two parcels—one improved and one vacant—providing a rare combination of current cash flow and entitled expansion potential in one of Bozeman’s strongest commercial corridors. The asset features approximately 337 feet of frontage on US-191 South, a high-traffic arterial serving Bozeman and the Gallatin Valley. The surrounding market is characterized by sub-3% commercial vacancy, reinforcing the property’s strong leasing fundamentals and long-term demand. Property Overview - Address: 81211 & 81213 Gallatin Road, Bozeman, MT 59718 - Property Type: Commercial — Retail, Showroom & Warehouse - Total Building Size: 33,400 SF (five condo units) - Land Area: 2.777 acres (two parcels) - Frontage: 337 feet on US Highway 191 South - Occupancy: 100% leased Tenant Mix & Income Profile The property is fully leased to a diverse mix of retail, showroom, storage, and warehouse users under staggered 3- to 5-year lease terms with renewal options. Warehouse tenants operate under NNN lease structures with operating expenses passed through via CAM charges, supporting durable net income. - Annual Gross Scheduled Revenue: $708,561 - Tenant composition by revenue: Warehouse (North & South) 65.3%; Retail (Suites A–E) 31.8%; Storage 2.9% The anchor tenant, Earth Elements LLC, occupies the North Warehouse and represents approximately 47% of total revenue under a five-year lease with two additional five-year renewal options, offering potential tenancy through December 2040. The owner, TS Four, LLC, occupies the South Warehouse under a three-year leaseback with terms negotiable at closing. Operating Performance - CY2025 Operating Expenses: $57,420 (insurance carried at the ownership entity level; NNN tenants reimburse pro-rata expenses via CAM) - Net Operating Income (NOI): $650,561 Historical operations reflect stable performance, with leases renegotiated and reset to market rates effective January 2026. Pro-forma income reflects fully executed leases currently in place. Development Upside The second parcel is entitled for an additional 11,518-square-foot building, offering immediate development potential along highly visible US-191 frontage. The site is currently vacant and development-ready, subject to verification of current permits and entitlements. Investment Highlights - 100% leased with diversified tenant base - Strong anchor tenant with long-term renewal options - NNN warehouse leases provide expense pass-through via CAM - No property-level mortgage (property currently secures a TS Four LLC line of credit to be addressed at closing) - Entitled vacant land for future development (11,518 SF Building #2) - Prime US-191 frontage less than one mile from Four Corners - Located in a sub-3% vacancy Bozeman commercial market 81211 &81213 Gallatin Road Bozeman Montana is a 33,447-square-foot industrial facility situated on 2.777 acres at 81211 Gallatin Road in Bozeman, MT. Pro-business policies in Montana, including favorable tax structures and streamlined permitting, continue to attract industrial investment and employer relocations. Strong tenant creditworthiness and long-term lease commitments enhance the asset's financing profile, enabling attractive debt terms and leverage. Lease structures include extension options that provide tenants with long-term occupancy certainty while offering the landlord embedded mark-to-market opportunities. The industrial sector continues to outperform all other commercial real estate asset classes in rent growth, absorption, and investment returns.

Property highlights

Building size

33,447 SF

Lot size

2.777 acres

Year built

2007

Zoning

OTHER / UNKNOWN

County

Gallatin

Map position is based on listing coordinates. Confirm access, entrances, and boundaries with the listing team; the marker is not a parcel survey.