For Sale
$465,000

1503 13Th StBillings, MT 59102

Prime Billings location, high ROI, fully leased.

Overview

Added:
Dec 11, 2024
Days on market:
116
This exceptional investment opportunity presents a fully leased, multi-use property located at 1503 13th St W in Billings, Montana. The property, priced at $465,000, boasts a 6.84% cap rate and a Net Operating Income (NOI) of $31,800. The 1,848 square foot building is classified as Class B and features a main floor of 1,408 square feet and an additional 440 square feet of basement space. Situated on three lots totaling 27,936 square feet, this property offers significant potential for expansion or redevelopment. The building is currently 100% occupied with three units. Suites 1 and 2 are under lease until April 2026, while Suite 3 is on a month-to-month lease, currently in its third year. Tenants contribute to snow removal, utilities, and maintenance expenses, reducing the owner's operational costs. The owner is responsible for water, garbage, sewer, property taxes, and property insurance. The property's zoning is NMU-Neighborhood Mixed-Use, offering flexibility for various business ventures. Its convenient midtown location, across from the new ACE Hardware on 13th St W, ensures high visibility and accessibility. Built in 1950, this property offers a blend of established presence and future potential in a thriving Billings market. The property's APN is A05940. This is a gross lease property.

Highlights

  • 1,848 SF office/retail building for sale.
  • Building sits on three lots totaling 27,936 SF.
  • Main floor comprises 1,408 SF, with an additional 440 SF basement.
  • Excellent midtown location across from the new ACE Hardware on 13th St W.
  • Fully leased; Suites 1 & 2 leased until April 2026, Suite 3 month-to-month.
  • Tenants pay prorated snow removal, utilities, and maintenance; Owner pays water, garbage, sewer, taxes, and insurance.

Property Details for 1503 13Th St

Property type
Retail properties, Restaurants
Square Feet
1,848 SF
Class
B
Year Built
1950
Buildings
1
Units
3

Location Insight

City
Billings
County
Yellowstone
State
Montana
Latitude
45.7852809
Longitude
-108.5481756
1503 13Th St, Billings, Montana

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1503 13Th St
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