Six-Office Suite
For Sale
Contact for pricing
208 N 28th St, Billings, MT 59101
Second-floor office suites with elevator-served ADA access and covered parking in an adjacent garage.
Property Size7,945 SF
Price / SF$120.83
Days on Market96
Property Features for 208 N 28th St
General Information
Standard status
Active
Size
7,945 SF
Elevators
Yes
Property subtype
OFFICE
Site & Location
Neighborhood
North Side
Additional Details
Floor
2
Office Units
6
Building Details
Tenancy
Multi
Listing Agency:
NAI Business Properties
(406) 256-5000
Listed By:
Tyler Samson · License #RRE-RBS-LIC-25433
(406) 671-8257
Source:
Moodyscre
Added: Jul 27
Changed: Oct 25
Last Checked: Oct 30 at 5:45PM
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 NAI Business Properties
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
Entire second floor of The Fratt Building available for sale, offering six different office suites within a 7,945 SF layout. Five current long-term tenants occupy the space, and the leases are currently all month to month.
The property provides ADA access with an elevator, plus covered parking in an adjacent parking garage for tenant and visitor convenience. Located at 208 N 28th St in Billings, MT, it’s positioned in the heart of Downtown Billings.
This configuration can support either an owner-user setup or an investor approach given the existing tenant footprint and suite-by-suite structure.
The property provides ADA access with an elevator, plus covered parking in an adjacent parking garage for tenant and visitor convenience. Located at 208 N 28th St in Billings, MT, it’s positioned in the heart of Downtown Billings.
This configuration can support either an owner-user setup or an investor approach given the existing tenant footprint and suite-by-suite structure.
Key Highlights
- Entire second floor of The Fratt Building
- Six different office suites
- 7,945 SF total office area
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$87,093
Cap Rate
9.07%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,741,860
$1.7M
Cap Rate 7%
$1,244,186
$1.2M
Cap Rate 9%
$967,700
$967.7K
Market Conditions
NOI Build-Up for 7,945 SF
Gross rent
$138.2K $17.40/SF
− Vacancy
−$22.1K −$2.78/SF
EGI
$116.1K $14.62/SF
− OpEx
−$29.0K −$3.65/SF
NOI
$87.1K $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 Rate 5%
$1,741,860
Cap Rate 7%
$1,244,186
Cap Rate 9%
$967,700
Alternative Uses
Best Use
Office B
$1.24M
$1.09M – $1.45M
NOI $87,093 @ 7.0% cap · market cap 9.07%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.73M
$1.52M – $2.02M
NOI $121,349 @ 7.0% cap · market cap 12.64%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Lease Details
6
Office units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
3,700
Businesses Nearby
Explore this area
Business Placement
Demographics for 59101, MT
41,522
Population
18,864
Households
2.2
Avg Household Size
37
Median Age
22%
College-Educated
91%
High-School Grad
590.8 sq mi
ZIP Area
70
Density / Sq Mi
$58,165
Median Household Income
$36,258
Median Earnings
$930
Median Rent
$243,000
Median Home Value
Market
Vacancy Rate% for Office in West region
Frequently Asked Questions
What type of property is this?
Office unit - Second-floor office suites with elevator-served ADA access and covered parking in an adjacent garage.
Where is this office unit located?
The property is located at 208 N 28th St Billings, MT.
What is the asking price?
The asking price for this property is $960,000.
What are key features of this property?
This property features: Entire second floor of The Fratt Building; Six different office suites; 7,945 SF total office area
