High Traffic Retail Pad
For Sale
$690,000
1503 Grand Avenue, Billings, MT 59102
Retail pad site with excellent frontage on a lit intersection.
Property Size2,749 SF
Price / SF$251
Days on Market197
Property Features for 1503 Grand Avenue
General Information
Standard status
Active
Size
2,749 SF
Property subtype
Big Box Retail
Building Details
Building Size
2,749 SF
Year Built
1981
Listing Agency:
NAI Business Properties
Listed By:
Haley Vannatta · License ##62446
(406) 294-6317
Source:
Thebrokerlist
Added: Apr 9
Changed: Oct 8
Last Checked: Oct 20 at 5:10PM
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 NAI Business Properties
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This retail pad site benefits from high traffic and excellent frontage on Grand Avenue at a lit intersection. A small 2,749 square foot retail or convenience store currently occupies the site. The property also includes a billboard lease. Originally constructed as a gas station, all tanks have been removed. The location offers strong east-west connectivity across the city and is adjacent to West Park Plaza, providing great access and excellent visibility. The property is surrounded by established businesses.
Key Highlights
- High traffic retail pad site with excellent frontage on Grand Avenue at a lit intersection.
- Strong east‑west connectivity across the city.
- Excellent visibility.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$28,143
Cap Rate
4.08%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$562,860
$562.9K
Cap Rate 7%
$402,043
$402.0K
Cap Rate 9%
$312,700
$312.7K
Market Conditions
NOI Build-Up for 2,749 SF
Gross rent
$41.2K $15.00/SF
− Vacancy
−$1.0K −$0.38/SF
EGI
$40.2K $14.63/SF
− OpEx
−$12.1K −$4.39/SF
NOI
$28.1K $10.24/SF
Area
Billings, MT
Vacancy
2.50%
Lease Rate
$15.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$562,860
Cap Rate 7%
$402,043
Cap Rate 9%
$312,700
Alternative Uses
Best Use
Retail
$402.0K
$351.8K – $469.1K
NOI $28,143 @ 7.0% cap · market cap 4.08%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$599.8K
$524.8K – $699.8K
NOI $41,987 @ 7.0% cap · market cap 6.09%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
1,029
Businesses Nearby
176k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 33%
Dining 32%
Groceries 20%
Home Improvements & Furnishings 13%
Albertsons
Groceries
29,426 visits/mo
0.3 miles
Red Robin Gourmet Burgers
Dining
17,702 visits/mo
0.1 miles
Panda Express
Dining
17,394 visits/mo
0.1 miles
Holiday Station Store
Shops & Services
15,469 visits/mo
0.3 miles
U.S. Bank
Shops & Services
10,726 visits/mo
0.3 miles
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Retail in West region
Frequently Asked Questions
What type of property is this?
Retail property - Retail pad site with excellent frontage on a lit intersection.
Where is this retail property located?
The property is located at 1503 Grand Avenue Billings, MT.
What is the asking price?
The asking price for this property is $690,000.
What are key features of this property?
This property features: High traffic retail pad site with excellent frontage on Grand Avenue at a lit intersection.; Strong east‑west connectivity across the city.; Excellent visibility.
