Multi-Unit Shop
For Sale
$1,590,000
1125 Maggie Lane, Billings, MT 59101
Fully leased 3-unit shop building with an additional leased, fenced yard on a CX-zoned tract.
Property Size13,682 SF
Lot Size0.64 Acres
Price / SF$116.21
Days on Market138
Property Features for 1125 Maggie Lane
General Information
Standard status
Active
Size
13,682 SF
Lot size
0.64 Acres
Property subtype
Industrial
Zoning
CX
Occupancy
100%
Additional Details
Fenced Yard
Yes
Building Details
Building Size
13,682 SF
Year Built
1979
Tenancy
Multi
Listed By:
George Warmer, SIOR, CCIM · License #MT #RRE-RBS-LIC-14174
(406) 855-8946
Source:
Cbcmontana
Added: Jun 7
Changed: Oct 14
Last Checked: Oct 20 at 5:58PM
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 George Warmer, SIOR, CCIM
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Investment Insights
Based on property information with market context.
This offering is a 13,682 SF shop building comprised of three separate units on a 28,052 SF tract. An additional 0.91-acre fenced yard is included as a leased area, providing added outdoor space for tenant use depending on the applicable lease terms.
The property is located at 1125 Maggie Lane, Billings, MT 59101. The land is zoned CX, classified as Heavy Commercial property, and the seller reports the heavy commercial portion is fully leased.
For buyers looking for an income-producing industrial/commercial asset, the configuration as a multi-unit shop building can support multiple tenants within one facility. The presence of a fenced yard lease may also appeal to users that require secure outdoor storage or related operational space. Prospective purchasers should review the unit mix and the existing yard lease terms to confirm how the space is currently allocated and to understand ongoing occupancy.
The property is located at 1125 Maggie Lane, Billings, MT 59101. The land is zoned CX, classified as Heavy Commercial property, and the seller reports the heavy commercial portion is fully leased.
For buyers looking for an income-producing industrial/commercial asset, the configuration as a multi-unit shop building can support multiple tenants within one facility. The presence of a fenced yard lease may also appeal to users that require secure outdoor storage or related operational space. Prospective purchasers should review the unit mix and the existing yard lease terms to confirm how the space is currently allocated and to understand ongoing occupancy.
Key Highlights
- 13,682 SF shop building built in 1979 with 3 units
- Located on a 28,052 SF tract
- Additional 0.91‑acre fenced yard included and leased
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$89,386
Cap Rate
5.62%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,787,720
$1.8M
Cap Rate 7%
$1,276,943
$1.3M
Cap Rate 9%
$993,178
$993.2K
Market Conditions
NOI Build-Up for 13,682 SF
Gross rent
$114.9K $8.40/SF
− Vacancy
−$9.8K −$0.71/SF
EGI
$105.2K $7.69/SF
− OpEx
−$15.8K −$1.15/SF
NOI
$89.4K $6.53/SF
Area
Billings, MT
Vacancy
8.50%
Lease Rate
$8.40 /SF/Yr
Expense Ratio
15.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,787,720
Cap Rate 7%
$1,276,943
Cap Rate 9%
$993,178
Alternative Uses
Best Use
Warehouse
$1.28M
$1.12M – $1.49M
NOI $89,386 @ 7.0% cap · market cap 5.62%
Second Best
Industrial
$1.13M
$985.9K – $1.31M
NOI $78,870 @ 7.0% cap · market cap 4.96%
Theoretical Best
Office A
$2.99M
$2.61M – $3.48M
NOI $208,973 @ 7.0% cap · market cap 13.14%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Open Analytics
Current Use
Lease Details
100%
Occupancy
Multi-tenant
Tenancy
Yes
Fenced yard
Location Intelligence
Trade Area within ½ mile
189
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
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Market
Vacancy Rate% for Industrial in West region
Similar Off Market Nearby
- The Storage Place of MT — 5504 King Ave E, Billings, MT 59101
- Charles Street Storage — 609 Charles St, Billings, MT 59101
Frequently Asked Questions
What type of property is this?
Warehouse - Fully leased 3-unit shop building with an additional leased, fenced yard on a CX-zoned tract.
Where is this warehouse located?
The property is located at 1125 Maggie Lane Billings, MT.
What is the asking price?
The asking price for this property is $1,590,000.
What are key features of this property?
This property features: 13,682 SF shop building built in 1979 with 3 units; Located on a 28,052 SF tract; Additional 0.91‑acre fenced yard included and leased
