Remodeled Office Unit with Private
For Sale
Contact for pricing
1575 Shiloh Road Suite H, Billings, MT 59102
Updated in 2023, the suite includes reception, a kitchenette, ADA bathroom, and dedicated storage.
Property Size1,536 SF
Price / SF$361.33
Days on Market26
Property Features for 1575 Shiloh Road Suite H
General Information
Standard status
Active
Size
1,536 SF
Class
A
Property subtype
Office
Zoning
Community Commercial
Occupancy
100%
Lease Type
NNN
Listing Agency:
Rob Veltkamp Brokerage
(406) 855-9089
Listed By:
Rob Veltkamp · License #MT 4131
Source:
Crexi
Added: Aug 4
Changed: Aug 28
Last Checked: Aug 28 at 7:52PM
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 Rob Veltkamp Brokerage
Investment Insights
Based on property information with market context.
Suite H is a 1,536-square-foot office condo at 1575 Shiloh Road in Billings. The layout provides four private offices along with a generous reception and waiting area, creating defined spaces for staff and visitors. Additional improvements include a breakroom with kitchenette, ADA bathroom, utility room, and substantial storage.
The owner completed a remodel in 2023, including built-in desks in each private office. The combination of enclosed work areas, shared reception space, and supporting facilities offers a complete office configuration within the suite.
The owner completed a remodel in 2023, including built-in desks in each private office. The combination of enclosed work areas, shared reception space, and supporting facilities offers a complete office configuration within the suite.
Key Highlights
- 1,536‑square‑foot office condo at 1575 Shiloh Road, Suite H
- Four private offices with built‑in desks
- Large reception and waiting area
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
$16,838
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
3.03%
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%
$336,760
$336.8K
Cap Rate 7%
$240,543
$240.5K
Cap Rate 9%
$187,089
$187.1K
Market Conditions
NOI Build-Up for 1,536 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
$26.7K $17.40/SF
− Vacancy
−$4.3K −$2.78/SF
EGI
$22.5K $14.62/SF
− OpEx
−$5.6K −$3.65/SF
NOI
$16.8K $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%
$336,760
Cap Rate 7%
$240,543
Cap Rate 9%
$187,089
Alternative Uses
Best Use
Office B
$240.5K
$210.5K – $280.6K
NOI $16,838 @ 7.0% cap · market cap 3.03%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$335.1K
$293.3K – $391.0K
NOI $23,460 @ 7.0% cap · market cap 4.23%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
339
Businesses Nearby
Explore this area
Business Placement
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
Market
Vacancy Rate% for Office in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Office units - Updated in 2023, the suite includes reception, a kitchenette, ADA bathroom, and dedicated storage.
Where is this office units located?
The property is located at 1575 Shiloh Road Suite H Billings, MT.
What is the asking price?
The asking price for this property is $555,000.
What are key features of this property?
This property features: 1,536‑square‑foot office condo at 1575 Shiloh Road, Suite H; Four private offices with built‑in desks; Large reception and waiting area
