For Sale
$499,000

219 33Rd StBillings, MT 59101

High-Yield, Multi-Tenant Retail Property

Overview

Added:
Dec 11, 2024
Days on market:
116
This exceptional downtown Billings retail property offers a compelling investment opportunity. The 3,204 square foot building, renovated in 2023, comprises three distinct units: a 960 sq ft retail space, an 876 sq ft one-bedroom apartment, and a 1,008 sq ft storage facility. Currently 100% occupied, generating a strong net operating income (NOI) of $23,256 annually, representing a 4.66% cap rate. The asking price is $499,000, or $155.74 per square foot. Built in 1950 and situated on a 10,497 sq ft lot, this Class B, net-lease property boasts excellent visibility and convenient access, located behind the Granite Building and near the medical corridor and downtown business center. The property's prime location ensures high foot traffic and strong rental demand, making it an ideal investment for both immediate income and long-term appreciation. This multi-tenant setup provides diversification and minimizes vacancy risk. The combination of retail, residential, and storage units offers a unique and versatile investment opportunity in a thriving Montana market.

Highlights

  • $499,000 asking price for a 3,204 square foot retail storefront in Billings, MT.
  • Net lease investment opportunity with a 4.66% cap rate and $23,256 annual NOI.
  • 100% occupancy with three tenants in a fully renovated (2023) Class B building.
  • Located at 219 N 33rd St, Billings, MT 59101, on a 10,497 square foot lot.
  • The property includes 960 sq ft of retail space, an 876 sq ft apartment, and a 1,008 sq ft storage building.

Property Details for 219 33Rd St

Property type
Retail properties, Retail space
Square Feet
3,204 SF
Class
B
Year Built/Renovated
1950/2023
Buildings
1
Units
2

Location Insight

City
Billings
County
Yellowstone
State
Montana
Latitude
45.780577451344
Longitude
-108.51328668135
219 33Rd St, Billings, Montana

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219 33Rd St
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