Mixed-Use Development
For Sale
$1,900,000
100 W Wicks, Billings, MT 59105
CommercialSale, Billings, MT
Property Size6,156 SF
Lot Size2.44 Acres
Price / SF$308.64
Days on Market257
Property Features for 100 W Wicks
General Information
Property type
Commercial Sale
Property subtype
Office
Zoning description
Neighborhood Office-Residential
Security features
Security
Interior features
Storage
Subdivision
Golden View Subd
Standard status
Active
APN
A20904
Size
6,156 SF
Lot size
2.44 Acres
Taxes and HOA fees
Tax Description
Golden View Subd, S21, T01 N, R26 E, BLOCK 1, Lot 15A
Tax Annual Amount
4240
Legal Description
Golden View Subd, S21, T01 N, R26 E, BLOCK 1, Lot 15A
Utilities
Sewer type
Public Sewer
Heating system
Hot Water(Heating)
Cooling system
Central Air
Water source
Public
Building Details
Year built
1979
Floors in Building
1
Roof type
Flat
Additional Structures
Storage
Listing Agency:
Tara Wolf Realty, LLC
Listed By:
Tara Wolf · License #RRE-BRO-LIC-14538
(406) 698-1849
Added: Jan 21
Changed: Sep 7
Last Checked: Oct 5 at 10:06AM
MLS# 357150
Copyright © 2026 Billings Association of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This mixed-use property includes a 6,156-square-foot building constructed in 1979 on a 2.44-acre site. The building was previously used as a medical facility and includes storage, central air, hot water heating, a flat roof, public water, and public sewer. The existing structure can be renovated, expanded, or reconfigured, subject to applicable approvals.
The property contains 106,286 square feet of land within a Residential Mixed Use zoning designation. Wicks Lane provides a direct route to the West End through Skyway Drive, with access continuing to Zimmerman Trail. The undeveloped portion allows up to 75% build-out, and each structure may include up to five units under the stated zoning parameters.
The property contains 106,286 square feet of land within a Residential Mixed Use zoning designation. Wicks Lane provides a direct route to the West End through Skyway Drive, with access continuing to Zimmerman Trail. The undeveloped portion allows up to 75% build-out, and each structure may include up to five units under the stated zoning parameters.
Key Highlights
- 6,156‑square‑foot existing building constructed in 1979
- 2.44‑acre site with 106,286 square feet of land
- Residential Mixed Use zoning designation
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$67,482
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
3.55%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,349,640
$1.3M
Cap Rate 7%
$964,029
$964.0K
Cap Rate 9%
$749,800
$749.8K
Market Conditions
NOI Build-Up for 6,156 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$107.1K $17.40/SF
− Vacancy
−$17.1K −$2.78/SF
EGI
$90.0K $14.62/SF
− OpEx
−$22.5K −$3.65/SF
NOI
$67.5K $10.96/SF
Area
Billings, MT
Vacancy
16.00%
Lease Rate
$17.40 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,349,640
Cap Rate 7%
$964,029
Cap Rate 9%
$749,800
Alternative Uses
Best Use
Office B
$964.0K
$843.5K – $1.12M
NOI $67,482 @ 7.0% cap · market cap 3.55%
Second Best
Healthcare Medical
$947.3K
$828.9K – $1.11M
NOI $66,308 @ 7.0% cap · market cap 3.49%
Theoretical Best
Office A
$1.34M
$1.18M – $1.57M
NOI $94,024 @ 7.0% cap · market cap 4.95%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
139
Businesses Nearby
Explore this area
Business Placement
Demographics for 59105, MT
33,310
Population
14,198
Households
2.3
Avg Household Size
37
Median Age
30%
College-Educated
96%
High-School Grad
95.9 sq mi
ZIP Area
347
Density / Sq Mi
$74,572
Median Household Income
$44,359
Median Earnings
$1,261
Median Rent
$314,900
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in West region
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Residential mixed-use zoning supports reuse of an existing building and additional development.
Where is this mixed-use property located?
The property is located at 100 W Wicks Billings, MT.
What is the asking price?
The asking price for this property is $1,900,000.
What are key features of this property?
This property features: 6,156‑square‑foot existing building constructed in 1979; 2.44‑acre site with 106,286 square feet of land; Residential Mixed Use zoning designation
