Rare two-parcel investment and redevelopment opportunity in Bozeman's rapidly evolving northeast corridor. The offering includes approximately 18,600 SF of land across two separately deeded parcels, a historic 4,875 SF warehouse, and a recently renovated, fully leased duplex generating more than $5,000/month in rental income. The 725 E. Cottonwood parcel includes the historic warehouse on approximately 11,500 SF of land, currently leased month-to-month. The adjacent 704 Front Street parcel includes the renovated duplex. Together, the parcels offer flexibility for an investor to retain in-place income, pursue adaptive reuse or redevelopment of the warehouse parcel, or evaluate a larger combined development strategy. Zoned NEHMU, the property offers a broad range of potential uses including residential, commercial, retail, restaurant, office and adaptive reuse, along with the potential for additional ADUs under current regulations. Preliminary architectural concepts illustrate one potential redevelopment scenario for the warehouse parcel; concepts are for illustrative purposes only and have not been entitled. Buyer to independently verify all zoning, permitted uses, development potential and feasibility. Located just one block from Wild Crumb Bakery, Treeline Coffee and Fink's Deli, the property is positioned within one of Northeast Bozeman's most active areas of continued investment and redevelopment. Nearby projects, improvements around the train depot, continued neighborhood growth and the prospect of future Opportunity Zone designation provide additional potential long-term upside, subject to applicable governmental action and eligibility requirements. A compelling opportunity for an investor, owner-user or developer seeking a combination of land, existing income, historic character and future redevelopment potential.