2912 3Rd AveBillings, MT 59101

Property Details for 2912 3Rd Ave

Year built

1980

Property size (Sq ft)

16,044 SF

Property type

Retail properties

Property subtype

Retail space

Description

This exceptional 16,044 square foot retail property in Billings, Montana's Central Business District presents a compelling investment opportunity. Located at 2912 3rd Ave N, this fully leased, multi-tenant building boasts six condo suites, offering a mix of retail and office spaces. Built in 1980, the property sits on a 40,500 square foot lot (APN A00352) and is currently operating at 100% occupancy, generating a strong Net Operating Income (NOI) of $66,895, representing a 5.69% cap rate. The asking price is $1,175,000, translating to $73.24 per square foot. Suite sizes range from 1,677 to 4,179 square feet, offering flexibility for future tenants. Below-market lease rates provide significant potential for value appreciation. This is a first-time offering for private ownership, presenting a rare chance to acquire a well-positioned, income-producing asset in a thriving Montana market. The property's NNN lease structure minimizes landlord responsibilities. Projections indicate a potential 11.59% proforma cap rate, highlighting the significant upside potential. This is a value-add opportunity with substantial long-term growth prospects. The property is zoned for Central Business District use.

Location Insight

City

Billings

County

Yellowstone

State

Montana

Latitude

45.7827

Longitude

-108.509

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