4770 King AveBillings, MT 59101

Property Details for 4770 King Ave

Year built

2014

Construction

WOOD

Lot size

1.57 AC

Property size (Sq ft)

29,568 SF

Property type

Hotels

Property subtype

Motels

APN

03-0927-16-2-81-31-0000

APU

3092716281310000

Description

This 64-key My Place Hotel in Billings, Montana, presents a compelling investment opportunity. Built in 2014, this three-story, 19,768 square foot hotel sits on a 1.57-acre lot (APN: 3-0927-16-2-81-31-0000) and boasts a current occupancy rate of 73%. The property features a current NOI of $779,999 and a pro-forma NOI of $895,728, translating to a current cap rate of 9.51% and a pro-forma cap rate of 10.92%. Located at 4770 King Ave E, Billings, MT 59101, this strategically positioned property along Interstate 90 offers significant growth potential due to its location in Montana's largest city, a vital trade and distribution hub. Conservative projections estimate a stabilized Gross Room Revenue (GRR) of $1,911,866 and a Stabilized Net Operating Income (NOI) of $972,203, reflecting a RevPAR index of 92%. The asking price is $8,200,000 ($414.81/sq ft, $128,125/key). The property is zoned CC. Operational inefficiencies present opportunities for enhanced performance. Billings' thriving commercial center and rich history further enhance the property's appeal. This is a rare chance to acquire a well-located, high-potential hotel in a growing market.

• CAP approach

  CAP return

  Valuation

  6%

  $7,458,859

  6.5%

  $6,885,100

  7%

  $6,393,308

• Comparable approach

  Method

  Valuation

  Relative Method

  $17,574,814

  Geo Method

  $5,740,834

• Alternative Use

  Use

  Valuation

  Residential

  $7,516,530

  Hospitality

  $6,885,100

  Educational

  $5,728,323

  Medical

  $5,925,329

  Retail

  $8,910,725

Location Insight

City

Billings

County

Yellowstone

State

Montana

Latitude

45.7542

Longitude

-108.533

CBSA code

13740

CBSA name

BILLINGS, MT METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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