Historic Live-Work
For Sale
$697,000
115 N Broadway Street, Billings, MT 59101
A rooftop patio, two basement storage rooms, and garage parking across the street add to the property’s practical features.
Property Size2,800 SF
Price / SF$248.93
Days on Market8
Property Features for 115 N Broadway Street
General Information
Standard status
Active
Size
2,800 SF
Elevators
Yes
Additional Details
Floor
Penthouse
Property Use
Office
Building Details
Buildings
1
Listing Agency:
Coldwell Banker The Brokers
(406) 652-6100
Listed By:
Kim Barnett · License #RRE-RBS-LIC-126005
(406) 671-6528
Source:
Patschindele
Added: Oct 24
Changed: Oct 25
Last Checked: Oct 30 at 2:32PM
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 occupies the Montana Power Building at 115 N Broadway Street in Billings. Its historic details include original law-office doors, preserved tile, glass made from Montana Power panes, freight elevator doors, and a Murphy bed. A gas fireplace connects to the original brick flue. The kitchen has a five-burner gas range, built-in wine cabinet, and Corian counters, while a marble-topped buffet provides additional interior character.
A balcony overlooks downtown, and the private rooftop includes panoramic views, herb gardens, patio space, and infrastructure for a hot tub. Two storage rooms are located in the basement, with garage parking across the street. Potential use as a residence, business, or combined live-work space is subject to applicable approvals.
A balcony overlooks downtown, and the private rooftop includes panoramic views, herb gardens, patio space, and infrastructure for a hot tub. Two storage rooms are located in the basement, with garage parking across the street. Potential use as a residence, business, or combined live-work space is subject to applicable approvals.
Key Highlights
- 2,800‑square‑foot penthouse in the Montana Power Building
- Private rooftop with herb gardens, patio space, and hot tub infrastructure
- Historic details include original law‑office doors, preserved tile, and glass made from Montana Power panes
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 rooftop patio, two basement storage rooms, and garage parking across the street add to the property’s practical features.
Where is this live-work space located?
The property is located at 115 N Broadway Street 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; Private rooftop with herb gardens, patio space, and hot tub infrastructure; Historic details include original law‑office doors, preserved tile, and glass made from Montana Power panes
