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    Modern Office Space in Billings Title is generated by Realmo AI

    2220 Grant Rd, Billings, MT 59102

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    Versatile office space with modern amenities in a prime location.

    Type:Office
    Property size:
    25,825 SF
    Added:
    Jul 27, 2021
    Days on Market:
    1776
    Last Refresh:
    May 12 at 10:07 pm

    Property Features for 2220 Grant Rd

    General Information

    Standard status
    Active
    Size
    25,825 SF
    Property subtype
    Office

    Building Details

    Year Built
    1986

    Spaces For Lease

    at 2220 Grant Rd Contact us

    $15/Mo

    Size
    11,200 SF
    Type
    Office
    Contact us

    We can help!

    Listing Contact
    Jon Ussin

    Listing agent Jon Ussin License #MT 4106

    Listing office U Bar S Real Estate

    Listing date Jul 27, 2021

    Source Crexi

    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 U Bar S Real Estate

    HighLights

    • Prime location in Billings' busiest business district with easy access to Interstate US 90.
    • 25,825 square feet of versatile office space suitable for single or multiple tenants.
    • Main level (13,000 sq ft) fully remodeled in 2022, including bathrooms with showers.
    • Second floor (11,200 sq ft) available December 2023, featuring a newly installed elevator (2023) and bathrooms.
    • Approximately 80 parking spots available for employees and visitors.
    • Basement with 1,625 square feet of secured storage space.

    Overview

    Located in the Homestead Business Park in Billings, MT, this office building offers 25,825 square feet of versatile office space. The property is positioned for businesses seeking convenience and modern amenities. The main level, totaling 13,000 square feet, was fully remodeled in 2022 and includes three sets of bathrooms, with one equipped with showers. The second floor provides 11,200 square feet and features a newly installed elevator from 2023, along with an additional set of bathrooms. A 1,625-square-foot basement offers secured storage space. Approximately 80 parking spots are available. The property has easy access to Interstate US 90, facilitating commutes to all parts of Billings. It is within walking distance to restaurants, coffee shops, banks, and retail stores. The second floor will be available in December 2023, and the landlord is open to single or multiple tenants. The property is located in the middle of Billings' busiest business district surrounded by retail and restaurants. The main level is fully leased.
    Property Profile Location Intelligence

    Current Use by Public Records

    Rim Advertising Marketing & Advertising Ulteig Land Surveyor

    Suggested Use

    Restaurant Real Estate Agency Law Firm Dental Office Spa & Massage Center Building Supply Big Box & Wholesale Store Hair Salon Auto Repair Shop Gym & Fitness Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Billings
    County
    Yellowstone
    State
    Montana
    Longitude
    -108.569322
    Latitude
    45.7536146

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    FAQs

    What type of property is this?
    Office building - Versatile office space with modern amenities in a prime location.
    Where is this office building located?
    The property is located at 2220 Grant Rd Billings, MT.
    What is the lease rate?
    The lease rate is $15 SF/Yr.
    What are key features of this property?
    This property features: Prime location in Billings' busiest business district with easy access to Interstate US 90.; 25,825 square feet of versatile office space suitable for single or multiple tenants.; **Main level (13,000 sq ft) fully remodeled in 2022, including bathrooms with showers.**
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Jon Ussin
    Real Estate License ID: MT 4106
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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