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    610 Bench Blvd Unit # 2 For Lease Billings, MT 59105

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    SINGLE_FAMILY - Billings, MT

    Type:Office
    Property size:
    2,808 SF
    Added:
    Apr 6, 2026
    Days on Market:
    1
    Last Refresh:
    Apr 6 at 7:06 pm

    Property Features for 610 Bench Blvd Unit # 2 For Lease

    General Information

    Property type
    Residential
    Property subtype
    Office
    Property condition
    Under Construction
    Parking
    4
    Parking features
    Assigned
    Security features
    Security
    Interior features
    WiredForData
    Standard status
    Active
    APN
    C15617
    Size
    2,808 SF

    Taxes and HOA fees

    Tax Description
    TEX REITER SUB, S27, T01 N, R26 E, BLOCK 1, Lot 2, (07) 3.565 AC
    Expense value
    2800
    Expense
    SecurityDeposit
    Expense freq.
    One Time

    Utilities

    Sewer type
    Septic Tank
    Heating system
    Natural Gas, Hot Water(Heating)
    Water source
    Public

    Building Details

    Year built
    2024
    Floors in Building
    2
    Building materials
    MetalSiding
    Roof type
    Metal

    We can help!

    Listing Contact
    Brem Fellman
    Brem Fellman

    Listing agent Brem Fellman License #RRE-BRO-LIC-16797

    Listing office Metro, REALTORS L.L.P 2029 Grand Avenue, Billings, MT

    Listing date Apr 6, 2026

    MLS# 358498

    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.

    Overview

    Billings Heights Flex Space

    This property offers a newly constructed, well-built, and fully finished heated shop, warehouse, office, and flex space, presenting a rare leasing opportunity in the Billings Heights area. The location provides convenient access off Bench Blvd, featuring private gated access and proximity to Interstate 90. The warehouse component measures 52 feet by 40 feet and includes a sink, 16-foot high ceilings, and two 14-foot high by 12-foot wide access doors equipped with commercial openers. LED lighting is installed throughout the warehouse, and a 3-foot door separates it from the office area. A spacious half bathroom is available, along with a utility area for additional storage. The property features in-floor radiant heat with individual thermostats for the office and shop areas. A concrete access road provides multiple parking areas and accommodates large truck access. The total property size is 2808 square feet. Lease terms are flexible, with tenants responsible for gas and electric utilities. The property is suitable for various commercial real estate purposes.
    Location Intelligence

    Current Use by Public Records

    Flex space

    Map

    City
    Billings
    County
    Yellowstone
    State
    Montana
    Longitude
    -108.467671
    Latitude
    45.810063

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    FAQs

    What type of property is this?
    Flex space - New, heated shop/warehouse/office space in Billings Heights.
    Where is this flex space located?
    The property is located at 610 Bench Blvd Unit # 2 For Lease Billings, MT.
    What is the asking price?
    The asking price for this property is Off market.
    What are key features of this property?
    This property features: Brand new construction (2024) offering modern, efficient space.; **52' X 40' warehouse with 16' high ceilings and (2) 14' X 12' access doors.**; In‑floor radiant heat with individual thermostats for office and shop areas.
    (406) 860-2223
    We can help!
    Listing Contact
    Brem Fellman
    Brem Fellman
    Real Estate License ID: RRE-BRO-LIC-16797
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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