802 8th ave - Apartments FOR SALE


Bozeman, MT 59715
$4,900,000 USD
714-400-6267
802 8th ave, Bozeman, MT for Sale
$4,900,000 USD
Apartments - FOR SALE
1/6
null | Request Cap Rate

802 8th ave
Bozeman, MT 59715


HIGHLIGHTS

  • Entitled Midtown Development Site – 1.447-Acre, Fully Assembled Site Approved for a 289-Unit, 194,000 SF Mixed-Use Project with 37,000 SF of Retail
  • Zoning that allows even More Height & Density TIF-Eligible Location – Site Sits Within Bozeman's Midtown Urban Renewal District
  • Severe Housing Shortage – Bozeman Has Added an Estimated 10,952 Households Since 2010 Against Only 10,369 Housing Permits Issued
  • Explosive Home Price Growth – Median Single-Family Home Price Has Surged 88% in 5 Years to $930,000, Bozeman is the 10th-Most Expensive Housing in US
  • Rapid Population Growth – City of Bozeman Population Up 66% Since 2010, with the Bozeman MSA Ranked the 4th-Fastest Growing Metro in the Country
  • Highly-Educated, High-Income Workforce – Bozeman Ranks as the 6th-Most Educated City in the U.S., with 63% of Residents Holding a Bachelor's Degree

OVERVIEW

We are pleased to present the exclusive opportunity to acquire 8 Aspen, a 1.447-acre, fully assembled development site located in Bozeman's rapidly expanding Midtown Urban Renewal District.? Positioned at 802-910 N.? 8th Avenue, the site is approved for a single 194,000-square-foot, six-story mixed-use building comprising 289 residential units and 37,000 square feet of ground-floor commercial and amenity space.? The development project can be expanded even beyond the current plan, as zoning permits greater height and density.? The site's Midtown location qualifies the project for Tax Increment Financing, with the property lined up to receive substantial public financial support for infrastructure improvements, including the extension of Aspen and Juniper Streets to North 8th Avenue.? Zoned B-2M – Community Business District Mixed – the project aligns with the City of Bozeman's Midtown Growth Policy and is designed to deliver a walkable, pedestrian-friendly addition to one of the city's most dynamic growth corridors.? Bozeman continues to post exceptional demographic and economic growth, with population up 66% since 2010 and a median single-family home price that has surged 88% over the past five years to $930,000 – making Bozeman the 10th-most expensive housing market in the country.? Housing supply has not kept pace with demand: since 2010, the city has added an estimated 10,952 households against only 10,369 issued housing permits, a deficit of roughly 583 units that continues to push renter demand toward well-located, attainable multifamily product like 8 Aspen.? This is a rare opportunity to acquire an entitled, infrastructure-supported infill site in one of Bozeman's most supply-constrained submarkets – backed by a highly educated, high-income workforce, immediate proximity to Montana State University, and outsized long-term demand fundamentals.?

FOR SALE DETAILS

PRICE

$4,900,000 USD

PRICE/SF

$25 USD /SF

# OF UNITS

289

PRICE/UNIT

$16,955

CAP RATE

Request Cap Rate

% LEASED

-

STATUS

Proposed

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

8 Aspen Entitled Mixed-Use Development Site

PROPERTY TYPE

Multi-Family

PROPERTY SUBTYPE

Apartments

ADD'L SUBTYPES

Storefront Retail/Residential

TOTAL BUILDING SIZE

-

STORIES

6

YEAR BUILT

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

-

LAND SF

-

ZONING

-

APN/PARCEL ID

6079801307170000

ASK ABOUT THIS PROPERTY

Spencer O'DonnellCharter Realty CompanyMore Info
714-400-6267

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Spencer O'DonnellCharter Realty CompanyMore Info
714-400-6267

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.