Office Condo with Private
1540 Lake Elmo Drive Billings, MT 59105
1540 Lake Elmo Drive, Billings, MT, 59105
$400,000
For Sale
$400,000
Flexible office condo layout includes seven private offices, reception area, kitchen, and two bathrooms.
Property Size1,980 SF
Price / SF$202.02
Days on Market36
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 agency
Meridian Real Estate LLC
Listed by
Lauraleah Griffin
Source
Clearwaterproperties
Added: Jun 17 Updated: Jul 10 at 2:01PM Checked: Jul 21 at 4:28AM
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
Investment Insights
Based on property information with market context.
This versatile commercial condo is configured with seven private office spaces, a receptionist area, a full kitchen/break room, and two bathrooms, providing a functional interior for a range of office users. The property is offered as a condo, supporting straightforward ownership and ongoing use.
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.
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.
Key Highlights
- Commercial condo built in 2000
- Flexible interior layout with 7 private office spaces
- Reception area plus full kitchen/break room
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 |
1,980 SF · lease $17.40/SF/yr · vacancy 16.00% · expense 25.00%
Alternative Uses
Best Use
Office B
$310.1K
$271.3K – $361.8K
NOI $21,705 @ 7.0% cap · market cap 5.43%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$432.0K
$378.0K – $504.0K
NOI $30,242 @ 7.0% cap · market cap 7.56%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Kenneth J. Bagby, ...
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Jason Vaira, DMD
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Conroy Patti J
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FAQs
What type of property is this?
Office units - Flexible office condo layout includes seven private offices, reception area, kitchen, and two bathrooms.
Where is this office units located?
The property is located at 1540 Lake Elmo Drive Billings, MT.
What is the asking price?
The asking price for this property is $400,000.
What are key features of this property?
This property features: Commercial condo built in 2000; Flexible interior layout with 7 private office spaces; Reception area plus full kitchen/break room
