1540 Lake Elmo Drive, Billings, MT 59105
Flexible office condo layout includes seven private offices, reception area, kitchen, and two bathrooms.
- Added:
- Jun 17, 2026
- Days on Market:
- 20
- Last Refresh:
- Jun 20 at 8:10 am
Property Features for 1540 Lake Elmo Drive
General Information
- Standard status
- Active
- Size
- 1,980 SF
- Property subtype
- Commercial
Building Details
- Year Built
- 2000
Listing office Meridian Real Estate LLC
Listing date Jun 17, 2026
Source Clearwaterproperties
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 Meridian Real Estate LLC
HighLights
- Commercial condo built in 2000
- Flexible interior layout with 7 private office spaces
- Reception area plus full kitchen/break room
- Includes 2 bathrooms
- Garage with paved surface
Overview
The asset is located at 1540 Lake Elmo Drive in Billings, Montana. As a dedicated office condo configuration, it is designed for tenant or owner-occupant workflows that benefit from multiple enclosed offices and a central reception area.
For businesses seeking a professional office setting, the current layout supports client-facing intake through the receptionist area while maintaining multiple separate rooms for staff or departments. Investors also may consider the space as an office product with defined private offices, two restrooms, and in-unit break space, which can help support a variety of professional tenant types.
Local Financial Insights For Office B
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $34.5k | $17.40 |
| − Vacancy | −$5.5k | −$2.78 |
| EGI | $28.9k | $14.62 |
| − OpEx | −$7.2k | −$3.65 |
| NOI | $21.7k | $10.96 |
Alternative Uses
Current Use by Public Records
Location Insight
- Map
- Local Demand
- City
- Billings
- County
- Yellowstone
- State
- Montana
- Longitude
- -108.476828
- Latitude
- 45.8271472
