Sign Up Successful!
You now have access to more from Realmo!
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    2929 3rd Ave N Billings, MT 59101

    Sponsored
    Source: https://www.cbcworldwide.com
    For Sale
    $5,464,910

    Cornerstone 5 Story Office Towers

    Property size:
    63,062 SF

    Property Features for 2929 3rd Ave N

    General Information

    Property type
    Office buildings
    Square Feet
    63,062 SF
    Price / Square Foot
    $86
    Elevators
    N/A
    Lot Size
    42,000 SF

    Building Details

    Year Built/Renovated
    1978/2005
    Buildings
    1
    Stories
    5

    Overview

    Cornerstone Five-Story Office Towers

    This five-story office building, formerly occupied by Rocky Mountain Bank, is located in downtown Billings. The property includes a generous parking lot on approximately one acre of land. The building features a three-lane drive-through, making it suitable for a bank, pharmacy, or restaurant. Floors one and two are currently vacant and ideal for an owner-occupied tenant. Floors three through five are rented to government tenants, a law office, a property manager, and a general office user. The property is located in both an opportunity zone and a downtown TIF district. The building offers excellent signage opportunities.

    We can help!

    Listing Contact
    Nathan Matelich

    Learn more

    Property Insight Report
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Federal Bureau of Investigation ... Federal Government Office Tamarack Property Management ... Property Management Company Bureau of Alcohol, Tobacco, ... Government Office Rocky Mountain Bank ... Bank Rocky Mountain Tribal ... Tribal Headquarters

    Suggested Use

    Restaurant Real Estate Agency Building Supply Law Firm Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Billings
    State
    Montana
    Longitude
    -108.4854229
    Latitude
    45.7944471

    Nearby Similar for Sale

    • $2,100,000
      9,244 SF

      Award-Winning Billings Event Venue

      Montana lifestyle opportunity: event venue, gardens, and residential homes.
      720 Washington St, Billings, MT 59101
      View Details
    • $625,000
      3,276 SF

      Remodeled Duplex Investment Opportunity

      Remodeled duplex in Billings, MT with leases in place.
      1322-1324 Babcock Cir, Billings, MT 59105
      View Details
    • $650,000
      12,556 SF

      Billings Commercial Property For Sale

      Commercial property in Billings, MT, suitable for auto or retail.
      5 Washington St, Billings, MT 59101
      View Details
    • New
      $549,900
      5,310 SF

      Victorian Five-Plex with Garage Units

      Centrally located five-unit property with additional garage rental income.
      105 Yellowstone Ave, Billings, MT 59101
      View Details
    • $334,500
      2,014 SF

      Updated Duplex with Rental History

      Updated duplex with solid rental history in Billings, Montana.
      334 Yellowstone Ave, Billings, MT 59101
      View Details
    • $750,000
      0.08 Acres

      Downtown Billings Retail/Office Building

      Retail and office building in downtown Billings near Montana Avenue.
      15 N 26Th St, Billings, MT 59101
      View Details
    • $1,600,000
      10,560 SF

      Billings Light-Industrial Facility For Sale

      10,560 sq ft facility with warehouse, office, and yard space.
      6830 Commercial Ave, Billings, MT 59101
      View Details
    • $5,900,000
      91,062 SF

      Mixed-Use Building in Downtown Billings

      91,000 sq ft mixed-use building in downtown Billings, MT.
      401 N 28Th St, Billings, MT 59101
      View Details
    • $365,000
      2,005 SF

      Rented Duplex Near Amenities

      Fully rented duplex near schools, shopping, and amenities in Billings.
      2646 Rimrock Rd, Billings, MT 59102
      View Details
    • New
      $340,000
      2,098 SF

      Billings Triplex Investment Opportunity

      Well-maintained triplex near downtown Billings, ideal for investors.
      238 Terry Ave, Billings, MT 59101
      View Details
    • New
      $629,800

      Billings Multifamily Investment Opportunity

      Multifamily property in Billings, MT. Great investment opportunity.
      3385 27Th St, Billings, MT 59102
      View Details
    • $2,990,000
      275.00 Acres

      Productive Farm Ground Near Yellowstone

      275-acre farm with irrigation, river frontage, and abundant wildlife.
      Christensen Rd, Billings, MT 59101
      View Details

    FAQs

    What type of property is this?
    Office building - Cornerstone 5 Story Office Towers
    Where is this office building located?
    The property is located at 2929 3rd Ave N Billings, MT.
    What is the asking price?
    The asking price for this property is $5,464,910.
    (406) 656-2001
    Request Owner's contact information
    2929 3rd Ave N Billings, MT 59101
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    2929 3rd Ave N
    Billings, MT 59101
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    2929 3rd Ave N Billings, MT 59101
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    Nathan Matelich
    (406) 656-2001
    Learn more
    Google sign-in failed. Please try again or use another login method.