Office Building with
For Sale
$450,000
1045 Central Avenue, Billings, MT 59102
CommercialSale, Billings, MT
Property Size2,417 SF
Lot Size0.67 Acres
Price / SF$186.18
Days on Market88
Property Features for 1045 Central Avenue
General Information
Property type
Commercial Sale
Property subtype
Office
Zoning description
CX - Heavy Commercial
Subdivision
Moorberg
Standard status
Active
APN
A20306
Size
2,417 SF
Lot size
0.67 Acres
Taxes and HOA fees
Tax Description
MOORBERG SUBD, S05, T01 S, R26 E, BLOCK 1, Lot 1, S124' & Lot 2, & N16' LT 1
Tax Annual Amount
4325
Legal Description
MOORBERG SUBD, S05, T01 S, R26 E, BLOCK 1, Lot 1, S124' & Lot 2, & N16' LT 1
Utilities
Sewer type
Public Sewer
Heating system
Forced Air, Natural Gas
Cooling system
Central Air
Water source
Public
Building Details
Year built
1943
Floors in Building
1
Building materials
Brick, WoodSiding
Roof type
Asphalt
Listing Agency:
Real Estate Hub LLLP
(406) 206-4886
Listed By:
Laura Scheetz · License #RRE-BRO-LIC-11390
(406) 591-5556
Added: Jul 10
Changed: Sep 15
Last Checked: Oct 5 at 10:06PM
MLS# 359569
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 office property includes two buildings at 1045 Central Avenue. The front building contains 2,417 square feet, including attic space, while the rear unit provides approximately 1,084 square feet. A separate garage and shop adds approximately 1,070 square feet, excluding attic space. The site also includes a fenced area suitable for parking machinery and vehicles.
The 0.6655-acre property carries heavy commercial zoning and is served by public water and public sewer. Building features include brick and wood siding, forced-air natural gas heat, central air conditioning, and an asphalt roof. Constructed in 1943, the property offers a combination of enclosed office areas, shop space, and secured outdoor storage at a single commercial site.
The 0.6655-acre property carries heavy commercial zoning and is served by public water and public sewer. Building features include brick and wood siding, forced-air natural gas heat, central air conditioning, and an asphalt roof. Constructed in 1943, the property offers a combination of enclosed office areas, shop space, and secured outdoor storage at a single commercial site.
Key Highlights
- 2,417‑square‑foot front office building, including attic space
- Approximately 1,084‑square‑foot rear unit
- Approximately 1,070‑square‑foot garage/shop, excluding attic space
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$26,495
Cap Rate
5.89%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$529,900
$529.9K
Cap Rate 7%
$378,500
$378.5K
Cap Rate 9%
$294,389
$294.4K
Market Conditions
NOI Build-Up for 2,417 SF
Gross rent
$42.1K $17.40/SF
− Vacancy
−$6.7K −$2.78/SF
EGI
$35.3K $14.62/SF
− OpEx
−$8.8K −$3.65/SF
NOI
$26.5K $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 Rate 5%
$529,900
Cap Rate 7%
$378,500
Cap Rate 9%
$294,389
Alternative Uses
Best Use
Office B
$378.5K
$331.2K – $441.6K
NOI $26,495 @ 7.0% cap · market cap 5.89%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$527.4K
$461.5K – $615.3K
NOI $36,916 @ 7.0% cap · market cap 8.20%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
Yes
Fenced yard
Location Intelligence
Trade Area within ½ mile
739
Businesses Nearby
Explore this area
Business Placement
Demographics for 59102, MT
48,133
Population
22,706
Households
2.1
Avg Household Size
41
Median Age
43%
College-Educated
97%
High-School Grad
15.0 sq mi
ZIP Area
3,209
Density / Sq Mi
$75,140
Median Household Income
$43,203
Median Earnings
$1,148
Median Rent
$307,400
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in West region
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Frequently Asked Questions
What type of property is this?
Office building - Two buildings combine office space, a shop, and fenced vehicle-storage capability.
Where is this office building located?
The property is located at 1045 Central Avenue Billings, MT.
What is the asking price?
The asking price for this property is $450,000.
What are key features of this property?
This property features: 2,417‑square‑foot front office building, including attic space; Approximately 1,084‑square‑foot rear unit; Approximately 1,070‑square‑foot garage/shop, excluding attic space
