Gated Flex Space with Garage
For Sale
$113,000
8103 Rosebud Drive Unit 16g, Billings, MT 59106
Newly built, divisible commercial space with secure access, individual overhead doors, heating, lighting, and insulated interiors.
Property Size1,152 SF
Days on Market669
Property Features for 8103 Rosebud Drive Unit 16g
General Information
Standard status
Active
Size
1,152 SF
Total Parking Spaces
2
Property subtype
Commercial
Additional Details
Fenced Yard
Yes
Amenities
community bathrooms
gated community
security cameras
paved roads
Building Details
Building Size
1,152 SF
Year Built
2024
Stories
1
Construction
steel frame
Listing Agency:
eXp Realty, LLC - Billings
(406) 633-1655
Listed By:
Jana May · License #RRE-BRO-LIC-63128
(406) 633-1655
Source:
Pinnacleproperty
Added: Oct 22, 2024
Changed: Aug 20
Last Checked: Aug 20 at 2:01PM
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 eXp Realty, LLC - Billings
Investment Insights
Based on property information with market context.
Completed in 2024, this flex-space property consists of engineered steel-frame buildings on concrete foundations with 5-inch rebar-reinforced slabs. Building configurations include 96' x 96' and 72' x 96' footprints, with each structure arranged into 8 units measuring 24' x 48'. Units may be combined into larger layouts, including 24' x 96', 48' x 48', 72' x 96', or a fully open 96' x 96' configuration.
Finished units include a 14' x 14' garage door with electric opener, a steel entry door, a natural-gas hanging heater, four bright LED ceiling lights, six 110V receptacles, R-41 ceiling insulation, and white metal interior liners. Thirty-amp or 50-amp plugs can be added. The gated community has perimeter fencing, cameras at each gated entrance, paved roads, and community bathrooms. Multiple units are available.
Finished units include a 14' x 14' garage door with electric opener, a steel entry door, a natural-gas hanging heater, four bright LED ceiling lights, six 110V receptacles, R-41 ceiling insulation, and white metal interior liners. Thirty-amp or 50-amp plugs can be added. The gated community has perimeter fencing, cameras at each gated entrance, paved roads, and community bathrooms. Multiple units are available.
Key Highlights
- 2024 construction with engineered steel‑frame buildings
- 96' x 96' or 72' x 96' building configurations
- Each building divided into 8‑24' x 48' units
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$8,995
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
7.96%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$179,900
$179.9K
Cap Rate 7%
$128,500
$128.5K
Cap Rate 9%
$99,944
$99.9K
Market Conditions
NOI Build-Up for 1,152 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$15.2K $13.20/SF
− Vacancy
−$1.4K −$1.19/SF
EGI
$13.8K $12.01/SF
− OpEx
−$4.8K −$4.20/SF
NOI
$9.0K $7.81/SF
Area
Billings, MT
Vacancy
9.00%
Lease Rate
$13.20 /SF/Yr
Expense Ratio
35.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$179,900
Cap Rate 7%
$128,500
Cap Rate 9%
$99,944
Alternative Uses
Best Use
Flex RnD
$128.5K
$112.4K – $149.9K
NOI $8,995 @ 7.0% cap · market cap 7.96%
Second Best
Warehouse
$107.5K
$94.1K – $125.4K
NOI $7,526 @ 7.0% cap · market cap 6.66%
Theoretical Best
Office A
$251.4K
$219.9K – $293.3K
NOI $17,595 @ 7.0% cap · market cap 15.57%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Fenced yard
Location Intelligence
Trade Area within ½ mile
238
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 59106, MT
20,681
Population
8,164
Households
2.5
Avg Household Size
40
Median Age
52%
College-Educated
98%
High-School Grad
112.0 sq mi
ZIP Area
185
Density / Sq Mi
$122,374
Median Household Income
$52,380
Median Earnings
$1,380
Median Rent
$483,100
Median Home Value
Market
Vacancy Rate% for Industrial in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Flex space - Newly built, divisible commercial space with secure access, individual overhead doors, heating, lighting, and insulated interiors.
Where is this flex space located?
The property is located at 8103 Rosebud Drive Unit 16g Billings, MT.
What is the asking price?
The asking price for this property is $113,000.
What are key features of this property?
This property features: 2024 construction with engineered steel‑frame buildings; 96' x 96' or 72' x 96' building configurations; Each building divided into 8‑24' x 48' units
