Mixed-Use Property with Existing
For Sale
$1,900,000
100 W Wicks, Billings, MT 59105
Residential Mixed Use zoning supports adaptive reuse of an existing medical facility.
Property Size6,156 SF
Price / SF$308.64
Days on Market36
Property Features for 100 W Wicks
General Information
Standard status
Active
Size
6,156 SF
Property subtype
CommercialSale
Listing Agency:
Tara Wolf Realty, LLC
(406) 698-1849
Listed By:
Tara Wolf · License #RRE-BRO-LIC-14538
(406) 698-1849
Source:
Patschindele
Added: Jul 27
Changed: Aug 29
Last Checked: Aug 30 at 5:24PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Tara Wolf Realty, LLC
Investment Insights
Based on property information with market context.
Located at 100 W Wicks in Billings, Montana, this mixed-use property combines a 106,286-square-foot site with an existing 6,156-square-foot building. The structure was previously used as a medical facility and can support renovation, expansion, or reconfiguration for a new commercial purpose.
The property is zoned Residential Mixed Use. Wicks Lane provides a direct route to the West End through Skyway Drive, with access continuing toward Zimmerman Trail. The balance of the site allows up to 75% build-out, while each structure may contain up to five units. These physical and zoning characteristics support a mixed-use configuration with commercial space at ground level and residential apartments above, subject to applicable approvals.
The property is zoned Residential Mixed Use. Wicks Lane provides a direct route to the West End through Skyway Drive, with access continuing toward Zimmerman Trail. The balance of the site allows up to 75% build-out, while each structure may contain up to five units. These physical and zoning characteristics support a mixed-use configuration with commercial space at ground level and residential apartments above, subject to applicable approvals.
Key Highlights
- 106,286‑square‑foot mixed‑use development site
- Existing 6,156‑square‑foot building previously used as a medical facility
- Zoned Residential Mixed Use
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
$67,482
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
3.55%
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%
$1,349,640
$1.3M
Cap Rate 7%
$964,029
$964.0K
Cap Rate 9%
$749,800
$749.8K
Market Conditions
NOI Build-Up for 6,156 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
$107.1K $17.40/SF
− Vacancy
−$17.1K −$2.78/SF
EGI
$90.0K $14.62/SF
− OpEx
−$22.5K −$3.65/SF
NOI
$67.5K $10.96/SF
Area
Billings, MT
Vacancy
16.00%
Lease Rate
$17.40 /SF/Yr
Expense Ratio
25.00%
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%
$1,349,640
Cap Rate 7%
$964,029
Cap Rate 9%
$749,800
Alternative Uses
Best Use
Office B
$964.0K
$843.5K – $1.12M
NOI $67,482 @ 7.0% cap · market cap 3.55%
Second Best
Healthcare Medical
$947.3K
$828.9K – $1.11M
NOI $66,308 @ 7.0% cap · market cap 3.49%
Theoretical Best
Office A
$1.34M
$1.18M – $1.57M
NOI $94,024 @ 7.0% cap · market cap 4.95%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
139
Businesses Nearby
Explore this area
Business Placement
Demographics for 59105, MT
33,310
Population
14,198
Households
2.3
Avg Household Size
37
Median Age
30%
College-Educated
96%
High-School Grad
95.9 sq mi
ZIP Area
347
Density / Sq Mi
$74,572
Median Household Income
$44,359
Median Earnings
$1,261
Median Rent
$314,900
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?
Mixed-use property - Residential Mixed Use zoning supports adaptive reuse of an existing medical facility.
Where is this mixed-use property located?
The property is located at 100 W Wicks Billings, MT.
What is the asking price?
The asking price for this property is $1,900,000.
What are key features of this property?
This property features: 106,286‑square‑foot mixed‑use development site; Existing 6,156‑square‑foot building previously used as a medical facility; Zoned Residential Mixed Use
