219 33Rd StBillings, MT 59101

Property Details for 219 33Rd St

Year built

1950

Construction

WOOD

Lot size

0.24 AC

Property size (Sq ft)

1,834 SF

Zone code

CBD

Property type

Retail properties

Property subtype

Retail space

APN

03-0927-03-2-19-06-0000

APU

3092703219060000

Description

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.

• CAP approach

  CAP return

  Valuation

  6%

  $598,761

  6.5%

  $552,702

  7%

  $513,224

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,168,966

  Geo Method

  $381,843

• Alternative Use

  Use

  Valuation

  Residential

  $466,225

  Hospitality

  $427,060

  Educational

  $355,309

  Medical

  $367,528

  Retail

  $552,702

Location Insight

City

Billings

County

Yellowstone

State

Montana

Latitude

45.7807

Longitude

-108.513

CBSA code

13740

CBSA name

BILLINGS, MT METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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