Multi-Building Flex
For Sale
$650,000
5 Washington Street, Billings, MT 59101
SINGLE_FAMILY - Billings, MT
Property Size8,697 SF
Lot Size1.30 Acres
Price / SF$74.74
Days on Market18
Property Features for 5 Washington Street
General Information
Property type
Residential
Property subtype
Office
Zoning description
CX - Heavy Commercial
Parking
10
Parking features
On Street
Interior features
Storage
Lot features
Alley
Subdivision
(04) South Billings
Standard status
Active
APN
D01636
Size
8,697 SF
Lot size
1.30 Acres
Taxes and HOA fees
Tax Description
S10, T01 S, R26 E, C.O.S. 298, PARCEL 1 & 2
Tax Annual Amount
5760
Legal Description
S10, T01 S, R26 E, C.O.S. 298, PARCEL 1 & 2
Utilities
Sewer type
Public Sewer
Cooling system
Window Unit(s)
Water source
Public
Building Details
Year built
1970
Floors in Building
2
Building materials
MetalSiding, WoodSiding
Roof type
Metal
Additional Structures
Storage
Listing Agency:
eXp Realty, LLC - Billings
(406) 578-4399
Listed By:
Caleb Benson · License #RRE-RBS-LIC-127147
(406) 839-7294
Added: Jul 20
Last Checked: Aug 6 at 7:06AM
MLS# 360805
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 8,697-square-foot flex property occupies 1.3 acres and includes five primary buildings, multiple sheds, and lean-to storage. Improvements include office space, workshop areas, sandblasting rooms, and a large air compressor system. A spacious office has been converted to residential living space and is leased month-to-month. The property was previously used for automotive restoration and body work.
The fully fenced yard provides three large gated entrances, outdoor storage areas, and room for equipment. The site offers access to I-90 and visibility from State Avenue. Public water and public sewer serve the property. Built in 1970, the improvements feature metal and wood siding, metal roofing, and window-unit cooling.
The fully fenced yard provides three large gated entrances, outdoor storage areas, and room for equipment. The site offers access to I-90 and visibility from State Avenue. Public water and public sewer serve the property. Built in 1970, the improvements feature metal and wood siding, metal roofing, and window-unit cooling.
Key Highlights
- 1.3‑acre flex property with 8,697 square feet of improvements
- Five main buildings plus multiple sheds and lean‑to covered storage
- Office space, workshops, sandblasting rooms, and large air compressor system
Financial Insights For Industrial
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $78.3k | $9.00 |
| − Vacancy | −$6.7k | −$0.77 |
| EGI | $71.6k | $8.24 |
| − OpEx | −$21.5k | −$2.47 |
| NOI | $50.1k | $5.76 |
8,697 SF · lease $9.00/SF/yr · vacancy 8.50% · expense 30.00%
Alternative Uses
Best Use
Office B
$1.36M
$1.19M – $1.59M
NOI $95,337 @ 7.0% cap · market cap 14.67%
Second Best
Flex RnD
$970.1K
$848.8K – $1.13M
NOI $67,904 @ 7.0% cap · market cap 10.45%
Theoretical Best
Office A
$1.90M
$1.66M – $2.21M
NOI $132,834 @ 7.0% cap · market cap 20.44%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Fenced yard
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
54
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
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
Market
Vacancy Rate% for Office in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Flex space - Fenced commercial property with offices, workshops, covered storage, and multiple gated entrances for varied operational needs.
Where is this flex space located?
The property is located at 5 Washington Street Billings, MT.
What is the asking price?
The asking price for this property is $650,000.
What are key features of this property?
This property features: 1.3‑acre flex property with 8,697 square feet of improvements; Five main buildings plus multiple sheds and lean‑to covered storage; Office space, workshops, sandblasting rooms, and large air compressor system
