Historic Absarokee Hotel Conversion
10 S Woodard Ave Absarokee, MT 59001
10 S Woodard Ave, Absarokee, MT, 59001
$704,000
For Sale
Under Contract
$704,000
COMMERCIAL - Other - Absarokee, MT
Property Size6,900 SF
Price / SF$102.03
Days on Market190
Property Features for 10 S Woodard Ave
General Information
- Property type
- Commercial Sale
- Property subtype
- Other
- Parking features
- On Street
- Standard status
- Active Under Contract
- APN
- 20029
- Size
- 6,900 SF
Taxes and HOA fees
- Tax Description
- AB ORGNL TWNST, S01, T04 S, R18 E, BLOCK 5, FRL LOTS3,4,5,6,7 COS 167111/ S01, T04 S, R18 E, BLOCK 5, S 16.5' OF E 124' LT 4 & N 8.5' OF E 124' LT 5
- Tax Annual Amount
- 2256
Utilities
- Sewer type
- Public Sewer
- Heating system
- Hot Water(Heating)
- Water source
- Public
Building Details
- Year built
- 1911
- Floors in Building
- 2
- Building materials
- Brick
- Roof type
- Flat
- Architectural style
- Other
Listing Agency
Berkshire Hathaway HS Floberg
(406) 254-1550
1550 Poly Drive, BILLINGS, MT
Listed by
Kaydn Laudie · License #RRE-RBS-LIC-108488
(406) 425-1074
Added: Jan 12 Updated: Jun 1 at 8:39 pm Checked: Jul 21 at 12:06 am
MLS# 348388
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.
The Jay Apartments, formerly the 1911 Absarokee Hotel, presents a unique opportunity. This brick building, situated approximately 100 feet from the town's main intersection, comprises 11 units and has historically maintained near 100% occupancy. Each unit is centrally metered for electrical service and features radiant heat. The basement includes laundry facilities, mechanical rooms, and potential storage units. The second-floor units are arranged in a hotel-style layout. Conversion possibilities include an upscale bed and breakfast, a small hotel, condominium units, or commercial office space. The property consists of two tracts, with the northern plot being buildable and currently serving as green space. Absarokee serves as the gateway to the recreational Stillwater Valley and the Tippet Rise cultural center. The property is located 30 miles from Red Lodge, which offers ski resorts and dining options, and 19 miles north of I-90 and the Yellowstone River. Billings and Bozeman provide convenient air connections. The property size is 6,900 square feet.
Key Highlights
- Historic 11‑unit brick building (1911 Absorakee Hotel/Jay Apartments) with near 100% occupancy history.
- Prime location: Just 100 feet from the town's main intersection in Absarokee.
- Conversion potential: Suitable for upscale B&B, small hotel, condo, or commercial office space.
Local Financial Insights For Apartment 5plus
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 | $111.8k | $16.20 |
| − Vacancy | −$5.6k | −$0.81 |
| EGI | $106.2k | $15.39 |
| − OpEx | −$47.8k | −$6.93 |
| NOI | $58.4k | $8.46 |
6,900 SF · lease $16.20/SF/yr · vacancy 5.00% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$834.4K
$730.1K – $973.4K
NOI $58,405 @ 7.0% cap · market cap 8.30%
Second Best
Hotel Hospitality
$741.7K
$649.0K – $865.3K
NOI $51,916 @ 7.0% cap · market cap 7.37%
Theoretical Best
Office A
$1.51M
$1.32M – $1.76M
NOI $105,388 @ 7.0% cap · market cap 14.97%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Bed & breakfasts
FAQs
What type of property is this?
Apartment building - 11-unit property with conversion potential in recreational gateway location.
Where is this apartment building located?
The property is located at 10 S Woodard Ave Absarokee, MT.
What is the asking price?
The asking price for this property is $704,000.
What are key features of this property?
This property features: Historic 11‑unit brick building (1911 Absorakee Hotel/Jay Apartments) with near 100% occupancy history.; Prime location: Just 100 feet from the town's main intersection in Absarokee.; Conversion potential: Suitable for upscale B&B, small hotel, condo, or commercial office space.
