Secured Warehouse
For Sale
Under Contract
$97,500
125 S 80 th Street W 25A, Billings, MT 59106
CommercialSale, Billings, MT
Property Size1,152 SF
Price / SF$84.64
Days on Market23
Property Features for 125 S 80 th Street W 25A
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
Un-zoned
Parking
2
Subdivision
Ridgeview Shop/Storage Condo's
Directions
King avenue west to 80 th Street west. right on 80 then go north until you see sign and shops.
Standard status
Active Under Contract
APN
D13242Z
Taxes and HOA fees
Tax Description
RIDGEVIEW SHOP/STORAGE CONDOMINIUMS (19), S12, T01 S, R24 E, UNIT 25A, 1.6667% COMMON AREA INTEREST
Tax Annual Amount
507
Legal Description
RIDGEVIEW SHOP/STORAGE CONDOMINIUMS (19), S12, T01 S, R24 E, UNIT 25A, 1.6667% COMMON AREA INTEREST
Utilities
Heating system
Natural Gas
Amenities
Security entry (key pad)
Central restrooms
Ceiling hung natural gas forced air heaters
Building Details
Year built
2020
Floors in Building
1
Building materials
MetalSiding, Steel
Roof type
Metal
Listing Agency:
U Bar S Real Estate
(406) 652-1151
Listed By:
Carlos Davey · License #14186
(406) 690-2564
Added: Aug 19
Changed: Sep 8
Last Checked: Sep 10 at 4:06AM
MLS# 353546
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 2020 warehouse unit offers a 24 X 48 footprint with a firewall separating it from the adjoining unit. The interior is metal lined and includes a concrete floor, a front concrete apron, a 14 foot high overhead door that is 14 ft. wide, and a separate 3 ft walk-in door. Ceiling-hung natural gas forced-air heaters provide building heat, while central restrooms serve the property.
Security features include keypad-controlled entry and a perimeter fence. The property is located at 125 S 80 th Street W 25A in Billings, Montana. Construction includes wood framing with metal siding and steel components, and the building has a metal roof.
Security features include keypad-controlled entry and a perimeter fence. The property is located at 125 S 80 th Street W 25A in Billings, Montana. Construction includes wood framing with metal siding and steel components, and the building has a metal roof.
Key Highlights
- 24 X 48 warehouse unit with firewall between units
- 14 foot high overhead door; 14 ft. wide
- Separate 3 ft walk‑in door and concrete front apron
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
$7,526
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
7.72%
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%
$150,520
$150.5K
Cap Rate 7%
$107,514
$107.5K
Cap Rate 9%
$83,622
$83.6K
Market Conditions
NOI Build-Up for 1,152 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
$9.7K $8.40/SF
− Vacancy
−$823 −$0.71/SF
EGI
$8.9K $7.69/SF
− OpEx
−$1.3K −$1.15/SF
NOI
$7.5K $6.53/SF
Area
Billings, MT
Vacancy
8.50%
Lease Rate
$8.40 /SF/Yr
Expense Ratio
15.00%
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%
$150,520
Cap Rate 7%
$107,514
Cap Rate 9%
$83,622
Alternative Uses
Best Use
Flex RnD
$128.5K
$112.4K – $149.9K
NOI $8,995 @ 7.0% cap · market cap 9.23%
Second Best
Warehouse
$107.5K
$94.1K – $125.4K
NOI $7,526 @ 7.0% cap · market cap 7.72%
Theoretical Best
Office A
$251.4K
$219.9K – $293.3K
NOI $17,595 @ 7.0% cap · market cap 18.05%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
1
Drive-in doors
Yes
Fenced yard
Location Intelligence
Trade Area within ½ mile
10
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 59106, MT
20,681
Population
8,164
Households
2.5
Avg Household Size
40
Median Age
52%
College-Educated
98%
High-School Grad
112.0 sq mi
ZIP Area
185
Density / Sq Mi
$122,374
Median Household Income
$52,380
Median Earnings
$1,380
Median Rent
$483,100
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Industrial in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Warehouse - Metal-lined warehouse unit with controlled entry, fenced grounds, heating, and dedicated overhead access.
Where is this warehouse located?
The property is located at 125 S 80 th Street W 25A Billings, MT.
What is the asking price?
The asking price for this property is $97,500.
What are key features of this property?
This property features: 24 X 48 warehouse unit with firewall between units; 14 foot high overhead door; 14 ft. wide; Separate 3 ft walk‑in door and concrete front apron
