Two-Level Office
For Sale
Contact for pricing
1321 N 27th St, Billings, MT 59101
Two-level office building totaling 3,549 SF with pylon signage on an 8,221 SF lot.
Property Size3,549 SF
Lot Size0.19 Acres
Price / SF$167.65
Days on Market414
Property Features for 1321 N 27th St
General Information
Standard status
Active
Size
3,549 SF
Lot size
0.19 Acres
Property subtype
OFFICE
Zoning
CMU-1
Listing Agency:
Coldwell Banker Commercial CBS
(406) 855-8946
Listed By:
George A. Warmer · License #14174
(406) 855-8946
Source:
Moodyscre
Added: Jun 24, 2025
Changed: Jul 26
Last Checked: Aug 11 at 1:00PM
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
Investment Insights
Based on property information with market context.
This two-level office building provides 3,549 SF of space across two floors. The property includes high-visibility pylon signage designed to support strong street presence and visibility.
The building is zoned Corridor Mixed Use 1 (CMU-1) and sits on an 8,221 SF lot. Public remarks indicate the property is adjacent to new healthcare infrastructure and positioned in the path of major growth.
The offering is structured as a single office building with signage and zoning support via CMU-1 corridor mixed-use zoning.
The building is zoned Corridor Mixed Use 1 (CMU-1) and sits on an 8,221 SF lot. Public remarks indicate the property is adjacent to new healthcare infrastructure and positioned in the path of major growth.
The offering is structured as a single office building with signage and zoning support via CMU-1 corridor mixed-use zoning.
Key Highlights
- Two‑level office building totaling 3,549 SF
- 8,221 SF lot
- Corridor Mixed Use 1 (CMU‑1) zoning
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
$38,904
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
6.54%
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%
$778,080
$778.1K
Cap Rate 7%
$555,771
$555.8K
Cap Rate 9%
$432,267
$432.3K
Market Conditions
NOI Build-Up for 3,549 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
$61.8K $17.40/SF
− Vacancy
−$9.9K −$2.78/SF
EGI
$51.9K $14.62/SF
− OpEx
−$13.0K −$3.65/SF
NOI
$38.9K $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 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%
$778,080
Cap Rate 7%
$555,771
Cap Rate 9%
$432,267
Alternative Uses
Best Use
Office B
$555.8K
$486.3K – $648.4K
NOI $38,904 @ 7.0% cap · market cap 6.54%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$774.4K
$677.6K – $903.4K
NOI $54,206 @ 7.0% cap · market cap 9.11%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
3,667
Businesses Nearby
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
Market
Vacancy Rate% for Office in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - Two-level office building totaling 3,549 SF with pylon signage on an 8,221 SF lot.
Where is this office building located?
The property is located at 1321 N 27th St Billings, MT.
What is the asking price?
The asking price for this property is $595,000.
What are key features of this property?
This property features: Two‑level office building totaling 3,549 SF; 8,221 SF lot; Corridor Mixed Use 1 (CMU‑1) zoning
