Mixed-Use Building with Retail
For Sale
$359,000
219 N 33rd Street, Billings, MT 59101
CommercialSale, Billings, MT
Property Size3,204 SF
Lot Size0.24 Acres
Price / SF$112.05
Days on Market44
Property Features for 219 N 33rd Street
General Information
Property type
Commercial Sale
Property subtype
Retail
Zoning description
CBD - Central Business District
Subdivision
Billings original Townsite
Lot features
Alley
Standard status
Active
APN
A00339
Lot size
0.24 Acres
Taxes and HOA fees
Tax Description
BILLINGS ORIGINAL TOWNSITE, S03, T01 S, R26 E, BLOCK 53, Lot 15 - 17
Tax Annual Amount
3940
Legal Description
BILLINGS ORIGINAL TOWNSITE, S03, T01 S, R26 E, BLOCK 53, Lot 15 - 17
Utilities
Sewer type
Public Sewer
Heating system
Natural Gas, Forced Air
Cooling system
Window Unit(s)
Water source
Public
Building Details
Year built
1950
Floors in Building
1
Listing Agency:
U Bar S Real Estate
(406) 652-1151
Listed By:
Jon Ussin · License #RRE-BRO-LIC-4106
(406) 656-7612
Added: Aug 25
Changed: Sep 14
Last Checked: Oct 7 at 11:06PM
MLS# 361485
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.
Built in 1950, this mixed-use property includes a 960-square-foot retail area, an 876-square-foot one-bedroom, one-bath apartment, and a separate 1,008-square-foot storage building. The improvements include updated roofing, siding, paint, and renovated interiors completed within the last year. Heating is provided by forced-air natural gas, with window-unit cooling.
The property occupies 0.241 acres at 219 N 33rd Street in downtown Billings, behind the Granite Building. Public water and public sewer serve the site. The apartment is currently vacant, while the retail and storage components provide a combination of commercial and residential space within one property.
The property occupies 0.241 acres at 219 N 33rd Street in downtown Billings, behind the Granite Building. Public water and public sewer serve the site. The apartment is currently vacant, while the retail and storage components provide a combination of commercial and residential space within one property.
Key Highlights
- 960‑square‑foot retail area
- 876‑square‑foot one‑bedroom, one‑bath apartment
- Separate 1,008‑square‑foot storage building
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$32,801
Cap Rate
9.14%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$656,020
$656.0K
Cap Rate 7%
$468,586
$468.6K
Cap Rate 9%
$364,456
$364.5K
Market Conditions
NOI Build-Up for 3,204 SF
Gross rent
$48.1K $15.00/SF
− Vacancy
−$1.2K −$0.38/SF
EGI
$46.9K $14.63/SF
− OpEx
−$14.1K −$4.39/SF
NOI
$32.8K $10.24/SF
Area
Billings, MT
Vacancy
2.50%
Lease Rate
$15.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$656,020
Cap Rate 7%
$468,586
Cap Rate 9%
$364,456
Alternative Uses
Best Use
Retail
$468.6K
$410.0K – $546.7K
NOI $32,801 @ 7.0% cap · market cap 9.14%
Second Best
Mixed Use
$442.2K
$386.9K – $515.9K
NOI $30,951 @ 7.0% cap · market cap 8.62%
Theoretical Best
Office A
$699.1K
$611.7K – $815.6K
NOI $48,937 @ 7.0% cap · market cap 13.63%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
2,697
Businesses Nearby
19k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 100%
Holiday Station Store
Shops & Services
12,567 visits/mo
0.3 miles
First Interstate Bank
Shops & Services
3,194 visits/mo
0.2 miles
Enterprise Rent-A-Car
Shops & Services
1,108 visits/mo
0.3 miles
Midas
Shops & Services
1,028 visits/mo
0.5 miles
H&R Block
Shops & Services
700 visits/mo
0.3 miles
Demographics for 59101, MT
41,522
Population
18,864
Households
2.2
Avg Household Size
37
Median Age
22%
College-Educated
91%
High-School Grad
590.8 sq mi
ZIP Area
70
Density / Sq Mi
$58,165
Median Household Income
$36,258
Median Earnings
$930
Median Rent
$243,000
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in West region
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Three-part commercial property combines storefront, apartment, and detached storage improvements in downtown Billings.
Where is this mixed-use property located?
The property is located at 219 N 33rd Street Billings, MT.
What is the asking price?
The asking price for this property is $359,000.
What are key features of this property?
This property features: 960‑square‑foot retail area; 876‑square‑foot one‑bedroom, one‑bath apartment; Separate 1,008‑square‑foot storage building
