Storefront Property with Cold
For Sale
$1,595,000
216 N 14th St, Billings, MT 59101
Open-plan commercial space with cold storage, loading access, paved parking, and a fenced yard.
Property Size19,236 SF
Price / SF$82.92
Days on Market9
Property Features for 216 N 14th St
General Information
Standard status
Active
Size
19,236 SF
Property subtype
Retail
Zoning
EB_CW
Additional Details
Corner Location
Yes
Amenities
2 bathrooms
1 office
4 small storage rooms
large open space
ramp for loading dock access
fully paved parking lots
signage and rotating signs
5000 SF cold storage
paved fenced yard space
Building Details
Building Size
19,236 SF
Year Built
1961
Year Renovated
1966
Listing Agency:
NAI Business Properties
Listed By:
Margaret Kirby · License #MT #RRE-RBS-LIC-119294
(760) 587-3310
Source:
Naiglobal
Added: Sep 18
Last Checked: Sep 26 at 4:59AM
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.
This storefront property comprises a 19,236 SF building constructed in 1961 and renovated in 1966. The interior features a large open area, 2 bathrooms, 1 office, 4 small storage rooms, and 5,000 SF of cold storage. A ramp provides access for loading, while 2 overhead doors may be revitalized into loading docks.
The building occupies a corner lot at 216 N 14th St in Billings, with a fully paved parking area, fenced yard, and included signage with rotating signs. The property is zoned EB_CW-East Billings Central Works and is located within the EBIRD district.
The building occupies a corner lot at 216 N 14th St in Billings, with a fully paved parking area, fenced yard, and included signage with rotating signs. The property is zoned EB_CW-East Billings Central Works and is located within the EBIRD district.
Key Highlights
- 19,236 SF building constructed in 1961 and renovated in 1966
- 5,000 SF of cold storage
- Large open area with ramp for loading dock access
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
$125,671
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
7.88%
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%
$2,513,420
$2.5M
Cap Rate 7%
$1,795,300
$1.8M
Cap Rate 9%
$1,396,344
$1.4M
Market Conditions
NOI Build-Up for 19,236 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
$161.6K $8.40/SF
− Vacancy
−$13.7K −$0.71/SF
EGI
$147.8K $7.69/SF
− OpEx
−$22.2K −$1.15/SF
NOI
$125.7K $6.53/SF
Area
Billings, MT
Vacancy
8.50%
Lease Rate
$8.40 /SF/Yr
Expense Ratio
15.00%
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%
$2,513,420
Cap Rate 7%
$1,795,300
Cap Rate 9%
$1,396,344
Alternative Uses
Best Use
Retail
$2.81M
$2.46M – $3.28M
NOI $196,929 @ 7.0% cap · market cap 12.35%
Second Best
Warehouse
$1.80M
$1.57M – $2.09M
NOI $125,671 @ 7.0% cap · market cap 7.88%
Theoretical Best
Office A
$4.20M
$3.67M – $4.90M
NOI $293,803 @ 7.0% cap · market cap 18.42%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
629
Businesses Nearby
Well-served
Demand for This Use
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Industrial in West region
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Frequently Asked Questions
What type of property is this?
Storefront property - Open-plan commercial space with cold storage, loading access, paved parking, and a fenced yard.
Where is this storefront property located?
The property is located at 216 N 14th St Billings, MT.
What is the asking price?
The asking price for this property is $1,595,000.
What are key features of this property?
This property features: 19,236 SF building constructed in 1961 and renovated in 1966; 5,000 SF of cold storage; Large open area with ramp for loading dock access
