1540 Lake Elmo Drive, Billings, MT 59105
- Added:
- Jun 15, 2026
- Days on Market:
- 3
- Last Refresh:
- Jun 17 at 5:06 am
Property Features for 1540 Lake Elmo Drive
General Information
- Property type
- Residential
- Property subtype
- Office
- Parking
- 6
- Appliances
- Refrigerator
- Standard status
- Active
- APN
- A29273
- Size
- 1,980 SF
Taxes and HOA fees
- Tax Description
- LAKE ELMO PROFESSIONAL CENTER, S22, T01 N, R26 E, UNIT 5, 6.5% COMMON AREA INTEREST, LOC @ LTS 1-2 & 3A BLK 1 MCCRACKEN SUB
- Tax Annual Amount
- 980
Utilities
- Sewer type
- Public Sewer
- Heating system
- Forced Air, Natural Gas
- Cooling system
- Central Air
- Water source
- Public
Building Details
- Year built
- 2000
- Floors in Building
- 1
- Roof type
- Shingle, Asphalt
Listing agent Lauraleah Griffin License #RRE-BRO-LIC-98920 (406) 208-4003
Listing office Meridian Real Estate LLC 2116 Broadwater Ave., Ste. 205, Billings, MT (406) 671-6955
Listing date Jun 15, 2026
Copyright © 2026 Billings Association of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
HighLights
- Commercial condo built in 2000 with a flexible layout for a variety of business uses
- Currently configured with 7 private office spaces plus a receptionist area
- Includes 2 bathrooms and a full kitchen/break room
- Utilities include public water and public sewer
- Forced‑air natural gas heating with central air conditioning
- Roof is asphalt shingle
Overview
Located at 1540 Lake Elmo Drive in Billings, Montana, the property sits in Yellowstone County. The available configuration makes it straightforward to accommodate staff, client-facing meetings, and day-to-day workflows within a single consolidated space.
For owner-occupants, the private-office layout supports professional operations that benefit from defined work areas plus a reception function. For investors or buyers seeking a commercial condo with clear functional improvements already in place, the combination of offices, two bathrooms, and an on-site kitchen/break room provides a practical foundation for common office tenants. The flexible floor plan can also be adapted to fit changing business needs.
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
- -108.476813
- Latitude
- 45.826654
