Live-Work Penthouse with
For Sale
$697,000
115 Broadway, Billings, MT 59101
A distinctive downtown property combines residential and workspace features, with additional storage and garage parking nearby.
Property Size2,800 SF
Price / SF$248.93
Days on Market23
Property Features for 115 Broadway
General Information
Standard status
Active
Size
2,800 SF
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$2,237
Amenities
Style: Historic/Antique
0.00
Historic/Antique
Building Details
Year Built
2002
Listing Agency:
Coldwell Banker The Brokers
Listed By:
Kim Barnett · License #RRE-RBS-LIC-126005
(406) 671-6528
Source:
Clearwaterproperties
Added: Sep 30
Changed: Oct 21
Last Checked: Oct 20 at 8:57PM
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 Coldwell Banker The Brokers
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Investment Insights
Based on property information with market context.
This 2,800-square-foot penthouse in the Montana Power Building offers a layout suited to residential use, office work, or a combination, subject to applicable approvals. Interior details include original law-office doors, preserved tile, glass made from Montana Power panes, a built-in buffet, and a gas fireplace. The kitchen has a five-burner gas range, wine cabinet, and Corian counters, while a balcony provides downtown views. An original Murphy bed and clawfoot tub add to the property’s distinctive interior character.
Private rooftop space includes herb gardens, a patio, panoramic views, and infrastructure for a hot tub. Two basement storage rooms and garage parking across the street are also included.
Private rooftop space includes herb gardens, a patio, panoramic views, and infrastructure for a hot tub. Two basement storage rooms and garage parking across the street are also included.
Key Highlights
- 2,800‑square‑foot penthouse in the Montana Power Building
- Residential, office, or combined use, subject to applicable approvals
- Private rooftop with herb gardens, patio, and hot tub infrastructure
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$30,694
Cap Rate
4.40%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$613,880
$613.9K
Cap Rate 7%
$438,486
$438.5K
Cap Rate 9%
$341,044
$341.0K
Market Conditions
NOI Build-Up for 2,800 SF
Gross rent
$48.7K $17.40/SF
− Vacancy
−$7.8K −$2.78/SF
EGI
$40.9K $14.62/SF
− OpEx
−$10.2K −$3.65/SF
NOI
$30.7K $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%
$613,880
Cap Rate 7%
$438,486
Cap Rate 9%
$341,044
Alternative Uses
Best Use
Office B
$438.5K
$383.7K – $511.6K
NOI $30,694 @ 7.0% cap · market cap 4.40%
Second Best
Mixed Use
$386.4K
$338.1K – $450.8K
NOI $27,048 @ 7.0% cap · market cap 3.88%
Theoretical Best
Office A
$610.9K
$534.6K – $712.8K
NOI $42,766 @ 7.0% cap · market cap 6.14%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
30
Businesses Nearby
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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 Office in West region
Frequently Asked Questions
What type of property is this?
Live-work space - A distinctive downtown property combines residential and workspace features, with additional storage and garage parking nearby.
Where is this live-work space located?
The property is located at 115 Broadway Billings, MT.
What is the asking price?
The asking price for this property is $697,000.
What are key features of this property?
This property features: 2,800‑square‑foot penthouse in the Montana Power Building; Residential, office, or combined use, subject to applicable approvals; Private rooftop with herb gardens, patio, and hot tub infrastructure
