Office Unit With Private
For Sale
$499,000
19 36th St W Ste 5, Billings, MT 59102
Configured with reception, kitchen, storage, private bathrooms, and on-site parking.
Property Size1,350 SF
Price / SF$369.63
Days on Market95
Property Features for 19 36th St W Ste 5
General Information
Standard status
Active
Size
1,350 SF
Class
A
Property subtype
Office
Building Details
Building Size
1,350 SF
Year Built
2008
Abandoned
No
Listing Agency:
Coldwell Banker Commercial CBS
Listed By:
Todd Sherman · License #MT #54530
(406) 570-8961
Source:
Cbcmontana
Added: Jun 3
Changed: Aug 31
Last Checked: Aug 31 at 4:04PM
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 Coldwell Banker Commercial CBS
Investment Insights
Based on property information with market context.
This 1,350-square-foot office unit was built in 2008 and arranged for practical day-to-day operations. The interior includes three private offices, a reception area, two private bathrooms, a kitchen, and dedicated storage space. The configuration provides a combination of private work areas and shared support space within a single commercial suite.
Located at 19 36th St W, Ste 5 in Billings, Montana, the property includes on-site parking. Its existing office-oriented layout and range of built-in support areas provide a functional setting for professional operations or other small-business uses supported by the suite configuration.
Located at 19 36th St W, Ste 5 in Billings, Montana, the property includes on-site parking. Its existing office-oriented layout and range of built-in support areas provide a functional setting for professional operations or other small-business uses supported by the suite configuration.
Key Highlights
- 1,350 SF office unit built in 2008
- Three private offices plus a reception area
- Two private bathrooms, kitchen, and ample storage
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
$14,799
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
2.97%
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%
$295,980
$296.0K
Cap Rate 7%
$211,414
$211.4K
Cap Rate 9%
$164,433
$164.4K
Market Conditions
NOI Build-Up for 1,350 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
$23.5K $17.40/SF
− Vacancy
−$3.8K −$2.78/SF
EGI
$19.7K $14.62/SF
− OpEx
−$4.9K −$3.65/SF
NOI
$14.8K $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%
$295,980
Cap Rate 7%
$211,414
Cap Rate 9%
$164,433
Alternative Uses
Best Use
Office B
$211.4K
$185.0K – $246.7K
NOI $14,799 @ 7.0% cap · market cap 2.97%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$294.6K
$257.7K – $343.7K
NOI $20,619 @ 7.0% cap · market cap 4.13%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
254
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
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Frequently Asked Questions
What type of property is this?
Office units - Configured with reception, kitchen, storage, private bathrooms, and on-site parking.
Where is this office units located?
The property is located at 19 36th St W Ste 5 Billings, MT.
What is the asking price?
The asking price for this property is $499,000.
What are key features of this property?
This property features: 1,350 SF office unit built in 2008; Three private offices plus a reception area; Two private bathrooms, kitchen, and ample storage
