Neighborhood Office
For Sale
Contact for pricing
1215 24th Street West Ste 260, Billings, MT 59102
Office suite in a neighborhood office building, offered for lease, with approximately 1,100 sq. ft.
Property Size1,100 SF
Price / SF$0.01
Days on Market102
Property Features for 1215 24th Street West Ste 260
General Information
Standard status
Active
Size
1,100 SF
Class
A
Property subtype
Office
Zoning
NO
Lease Term
NNN
Site & Location
Neighborhood
East Central
Building Details
Building Size
1,100 SF
Properties For Sale
at 1215 24th Street West Ste 260
Ste 260
Size
1,100 SF
Term
Negotiable
Listing Agency:
Coldwell Banker Commercial CBS
Listed By:
David Mitchell, SIOR, CCIM · License #MT #RRE-BRO-LIC-38907
(406) 794-3404
Source:
Cbcmontana
Added: Jul 22
Changed: Oct 25
Last Checked: Oct 30 at 11:58AM
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 Commercial CBS
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Investment Insights
Based on property information with market context.
Suite 260 is an office unit within a neighborhood office building totaling 12,600 sq. ft. The space is listed for lease at approximately 1,100 sq. ft.
The property is located at 1215 24th Street West in Billings, MT, and is identified under zoning described as “NO - Neighborhood Office.”
This offering presents a defined, suite-level workspace inside a smaller office building environment.
The property is located at 1215 24th Street West in Billings, MT, and is identified under zoning described as “NO - Neighborhood Office.”
This offering presents a defined, suite-level workspace inside a smaller office building environment.
Key Highlights
- For lease: 1215 24th St W, Ste 260
- Office suite offered for lease with approximately 1,100 SF
- Estimated monthly rent: $1,044.00
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$12,058
Suggested Prices Based on Cap Rates
Cap Rate 5%
$241,160
$241.2K
Cap Rate 7%
$172,257
$172.3K
Cap Rate 9%
$133,978
$134.0K
Market Conditions
NOI Build-Up for 1,100 SF
Gross rent
$19.1K $17.40/SF
− Vacancy
−$3.1K −$2.78/SF
EGI
$16.1K $14.62/SF
− OpEx
−$4.0K −$3.65/SF
NOI
$12.1K $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%
$241,160
Cap Rate 7%
$172,257
Cap Rate 9%
$133,978
Alternative Uses
Best Use
Office B
$172.3K
$150.7K – $201.0K
NOI $12,058 @ 7.0% cap · market cap 109,618.18%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$240.0K
$210.0K – $280.0K
NOI $16,801 @ 7.0% cap · market cap 152,736.36%
Zoning and permitted uses should be independently verified with authorities.
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Location Intelligence
Trade Area within ½ mile
973
Businesses Nearby
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Business Placement
Demographics for 59102, MT
48,133
Population
22,706
Households
2.1
Avg Household Size
41
Median Age
43%
College-Educated
97%
High-School Grad
15.0 sq mi
ZIP Area
3,209
Density / Sq Mi
$75,140
Median Household Income
$43,203
Median Earnings
$1,148
Median Rent
$307,400
Median Home Value
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Market
Vacancy Rate% for Office in West region
Frequently Asked Questions
What type of property is this?
Office unit - Office suite in a neighborhood office building, offered for lease, with approximately 1,100 sq. ft.
Where is this office unit located?
The property is located at 1215 24th Street West Ste 260 Billings, MT.
What are key features of this property?
This property features: For lease: 1215 24th St W, Ste 260; Office suite offered for lease with approximately 1,100 SF; Estimated monthly rent: $1,044.00
