Two-Building Warehouse
For Sale
$1,200,000
1105 1st Avenue N, Billings, MT 59101
CommercialSale, Billings, MT
Property Size12,750 SF
Lot Size0.48 Acres
Price / SF$94.12
Days on Market92
Property Features for 1105 1st Avenue N
General Information
Property type
Commercial Sale
Property subtype
Office
Subdivision
(06) Downtown
Standard status
Active
APN
D05903
Size
12,750 SF
Lot size
0.48 Acres
Taxes and HOA fees
Tax Description
S34, T01 N, R26 E, C.O.S. 1758, PARCEL 1, TR:1 C/S 1758 IN SWNW4 S34, T01 N, R26 E, 73'X 140'N OF 1ST AV N ADJ MOE SEED COON W IN SWSWNW4
Tax Annual Amount
10661
Legal Description
S34, T01 N, R26 E, C.O.S. 1758, PARCEL 1, TR:1 C/S 1758 IN SWNW4 S34, T01 N, R26 E, 73'X 140'N OF 1ST AV N ADJ MOE SEED COON W IN SWSWNW4
Utilities
Sewer type
Public Sewer
Heating system
Natural Gas, Forced Air
Cooling system
Central Air
Water source
Public
Building Details
Year built
1948
Floors in Building
2
Listing Agency:
U Bar S Real Estate
(406) 652-1151
Listed By:
Carlos Davey · License #14186
(406) 690-2564
Added: Jul 13
Changed: Sep 14
Last Checked: Oct 12 at 12:06PM
MLS# 360612
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 commercial property comprises two buildings totaling approximately 12,750 square feet. The primary building at 1105 1st Avenue North was constructed in 1948 and includes approximately 11,770 square feet of dock-high space, with retail and warehouse components. Approximately 4,400 square feet on the retail side is occupied by the owner, who may lease back the space or vacate. A separate 908-square-foot Quonset building at 1111 1st Avenue North is leased to a bicycle shop.
The property fronts 1st Avenue North in Billings, with more than 15,000 vehicles passing daily. MetraPark, area universities, hospitals, Interstate 90, and downtown Billings are identified as nearby destinations. Natural gas and forced-air heating, central air, public water, and public sewer serve the property. The site supports warehouse, distribution, retail, and other commercial applications requiring interstate access.
The property fronts 1st Avenue North in Billings, with more than 15,000 vehicles passing daily. MetraPark, area universities, hospitals, Interstate 90, and downtown Billings are identified as nearby destinations. Natural gas and forced-air heating, central air, public water, and public sewer serve the property. The site supports warehouse, distribution, retail, and other commercial applications requiring interstate access.
Key Highlights
- Approximately 11,770 square feet of dock‑high space at 1105 1st Avenue North
- Primary building includes approximately 2,900 square feet of retail area and 8,726 square feet of warehouse space
- Separate 908‑square‑foot Quonset building at 1111 1st Avenue North
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$99,549
Cap Rate
8.30%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,990,980
$2.0M
Cap Rate 7%
$1,422,129
$1.4M
Cap Rate 9%
$1,106,100
$1.1M
Market Conditions
NOI Build-Up for 12,750 SF
Gross rent
$168.3K $13.20/SF
− Vacancy
−$15.1K −$1.19/SF
EGI
$153.2K $12.01/SF
− OpEx
−$53.6K −$4.20/SF
NOI
$99.5K $7.81/SF
Area
Billings, MT
Vacancy
9.00%
Lease Rate
$13.20 /SF/Yr
Expense Ratio
35.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,990,980
Cap Rate 7%
$1,422,129
Cap Rate 9%
$1,106,100
Alternative Uses
Best Use
Retail
$1.86M
$1.63M – $2.18M
NOI $130,528 @ 7.0% cap · market cap 10.88%
Second Best
Flex RnD
$1.42M
$1.24M – $1.66M
NOI $99,549 @ 7.0% cap · market cap 8.30%
Theoretical Best
Office A
$2.78M
$2.43M – $3.25M
NOI $194,738 @ 7.0% cap · market cap 16.23%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Open Analytics
Current Use
Lease Details
15,000 VPD
Traffic count
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
431
Businesses Nearby
Well-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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Industrial in West region
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Frequently Asked Questions
What type of property is this?
Warehouse - Warehouse and retail improvements with dock-high loading, public utilities, and prominent exposure along 1st Avenue North.
Where is this warehouse located?
The property is located at 1105 1st Avenue N Billings, MT.
What is the asking price?
The asking price for this property is $1,200,000.
What are key features of this property?
This property features: Approximately 11,770 square feet of dock‑high space at 1105 1st Avenue North; Primary building includes approximately 2,900 square feet of retail area and 8,726 square feet of warehouse space; Separate 908‑square‑foot Quonset building at 1111 1st Avenue North
