Six-Office Suite
New
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 Market5
Property Features for 208 N 28th St
General Information
Standard status
Active
Size
7,945 SF
Elevators
Yes
Property subtype
OFFICE
Additional Details
Floor
2
Office Units
6
Building Details
Tenancy
Multi
Listing Agency:
NAI Business Properties
(406) 671-8257
Listed By:
Tyler Samson · License #R​R​E​-​R​B​S​-​L​I​C​-​2​5​4​3​3
(406) 671-8257
Source:
Moodyscre
Added: Jul 27
Changed: Jul 30
Last Checked: Jul 30 at 11:51AM
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
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 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 | $138.2k | $17.40 |
| − Vacancy | −$22.1k | −$2.78 |
| EGI | $116.1k | $14.62 |
| − OpEx | −$29.0k | −$3.65 |
| NOI | $87.1k | $10.96 |
7,945 SF · lease $17.40/SF/yr · vacancy 16.00% · expense 25.00%
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.
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
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 - Second-floor office suites with elevator-served ADA access and covered parking in an adjacent garage.
Where is this office units 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
