Multi-Tenant Warehouse
1270 Lockwood Rd, Billings, MT 59101
For Sale
$1,298,000
Six separate tenants occupy the property under NNN leases, with the site zoned L1 - Light Industrial.
Property Size12,000 SF
Lot Size0.99 Acres
Price / SF$108.17
Days on Market50
Property Features for 1270 Lockwood Rd
General Information
Standard status
Size
Lot size
Property subtype
Zoning
Occupancy
Property Condition
Severity
Evidence
Financials
Asking Price
Cap Rate
Site & Location
Neighborhood
Building Details
Building Size
Year Built
Buildings
Tenancy
Listing Agency:
Coldwell Banker Commercial CBS
Listed By:
Nathan Matelich · License MT RRE-RBS-LIC-45092
(406) 656-2001
Source:
Cbcworldwide
Added: Sep 26
Changed: Nov 9
Last Checked: Nov 12 at 4:11AM
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.
The warehouse property comprises 12,000 SF across two buildings on a 0.99-acre lot. Built in 1999, it is fully leased to six separate tenants under NNN leases. The property is zoned L1 - Light Industrial.
Key Highlights
- 12,000 SF across two buildings
- Fully leased to 6 separate tenants
- NNN leases
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$78,397
Cap Rate
6.04%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,567,940
$1.6M
Cap Rate 7%
$1,119,957
$1.1M
Cap Rate 9%
$871,078
$871.1K
Market Conditions
NOI Build-Up for 12,000 SF
Gross rent
$100.8K $8.40/SF
− Vacancy
−$8.6K −$0.71/SF
EGI
$92.2K $7.69/SF
− OpEx
−$13.8K −$1.15/SF
NOI
$78.4K $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%
$1,567,940
Cap Rate 7%
$1,119,957
Cap Rate 9%
$871,078
Alternative Uses
Best Use
Warehouse
$1.12M
$980.0K – $1.31M
NOI $78,397 @ 7.0% cap · market cap 6.04%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.62M
$2.29M – $3.05M
NOI $183,283 @ 7.0% cap · market cap 14.12%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
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Current Use
Lease Details
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
177
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
$243,000
Median Home Value
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Market
Average Price Trend$/SF for Warehouses in Billings, MT
Properties on Market for Warehouses in Billings
Vacancy Rate% for Industrial in West region
Similar Off Market Nearby
- Cloverleaf Outdoor Storage — 902 Rosebud Ln, Billings, MT 59101
- u-LOCKED Mini Storage — 803 Cerise Rd, Billings, MT 59101
- MoCan Containers — 1719 Old Hardin Rd, Billings, MT 59101
- Stor-It Mini Warehouses — 400 Lomond Ln, Billings, MT 59101
- Metra Storage - 401 Bonnie Lane — 401 Bonnie Ln, Billings, MT 59101
Frequently Asked Questions
What type of property is this?
Warehouse - Six separate tenants occupy the property under NNN leases, with the site zoned L1 - Light Industrial.
Where is this warehouse located?
The property is located at 1270 Lockwood Rd Billings, MT.
What is the asking price?
The asking price for this property is $1,298,000.
What are key features of this property?
This property features: 12,000 SF across two buildings; Fully leased to 6 separate tenants; NNN leases
