For Sale
$3,250,000

1420 Minnesota AveBillings, MT 59101

28,265 SF Warehouse, Downtown Billings, MT

Overview

Added:
Dec 11, 2024
Days on market:
116
This 28,265-square-foot industrial property, located at 1420 Minnesota Ave in Billings, Montana, is for sale for $3,250,000. The Class B building, constructed in 1971 and renovated in 2023, sits on a 3.128-acre lot and is zoned for heavy industrial use. The property features 25,000 square feet of net rentable warehouse space with a 20-foot ceiling height and two loading docks. A 3,000-square-foot modern office space is included. Currently 100% occupied with a single tenant under a gross lease, the property boasts a current NOI of $135,417 and a pro-forma NOI of $213,477, resulting in a 4.17% cap rate and a pro-forma cap rate of 6.57%. The lease is for three years, commencing May 15, 2024, and expiring May 14, 2027, with a one additional 3-year option. The current tenant occupies 8,873 square feet of showroom space. The remaining 17,406 square feet of warehouse space is currently occupied by the owner. The seller is willing to sign a 3-year lease at closing for an investor. The seller could also vacate the space for an owner-user. The property is ideal for distribution, manufacturing, or warehouse operations, excluding seed/agriculture businesses. The price per square foot is $114.98.

Highlights

  • Newly renovated 28,265 SF Class B industrial building on a 3.128-acre lot in Billings, MT.
  • 25,000 SF of warehouse space with 20-foot ceilings and two loading docks.
  • Includes 3,000 SF of modern office space.
  • Excellent downtown Billings location on Minnesota Avenue with easy highway access.
  • Currently 100% occupied with a gross lease, offering a $135,417 NOI and a pro-forma NOI of $213,477.
  • Priced at $3,250,000 ($114.98/SF).

Property Details for 1420 Minnesota Ave

Property type
Warehouses, Industrial properties
Square Feet
28,265 SF
Class
B
Year Built/Renovated
1971/2023
Buildings
1
Lot Size (sq. ft)
136,256 SF

Location Insight

City
Billings
County
Yellowstone
State
Montana
Latitude
45.788427409539
Longitude
-108.48667737496
1420 Minnesota Ave, Billings, Montana

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1420 Minnesota Ave
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