Shop and Retail Office
For Sale
$1,300,000
2271 Eldorado Dr, Billings, MT 59102
Combination shop space with retail and office areas totaling 9,144 SF.
Property Size9,144 SF
Price / SF$142.17
Days on Market85
Property Features for 2271 Eldorado Dr
General Information
Standard status
Active
Size
9,144 SF
Property subtype
Retail
Building Details
Building Size
9,144 SF
Year Built
1978
Listing Agency:
Coldwell Banker Commercial CBS
Listed By:
Bruce Knudsen · License #MT #RRE-BRO-LIC-127352
(406) 698-8636
Source:
Cbcmontana
Added: Jun 17
Changed: Sep 2
Last Checked: Sep 8 at 5:34AM
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 offering is a combination commercial property with shop space plus retail and office areas, totaling 9,144 SF. The layout is suited for a business needing a mix of customer-facing and workspace components within the same building footprint.
The property is located at 2271 Eldorado Drive in Billings, Montana, and is presented For Sale.
If you’re looking for a single site that can accommodate both operating and front-of-house space, this configuration provides a practical starting point with multiple functional areas under one roof.
The property is located at 2271 Eldorado Drive in Billings, Montana, and is presented For Sale.
If you’re looking for a single site that can accommodate both operating and front-of-house space, this configuration provides a practical starting point with multiple functional areas under one roof.
Key Highlights
- Combination of shop space with retail and office areas
- Total area: 9,144 SF
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
$93,612
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
7.20%
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%
$1,872,240
$1.9M
Cap Rate 7%
$1,337,314
$1.3M
Cap Rate 9%
$1,040,133
$1.0M
Market Conditions
NOI Build-Up for 9,144 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
$137.2K $15.00/SF
− Vacancy
−$3.4K −$0.38/SF
EGI
$133.7K $14.63/SF
− OpEx
−$40.1K −$4.39/SF
NOI
$93.6K $10.24/SF
Area
Billings, MT
Vacancy
2.50%
Lease Rate
$15.00 /SF/Yr
Expense Ratio
30.00%
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%
$1,872,240
Cap Rate 7%
$1,337,314
Cap Rate 9%
$1,040,133
Alternative Uses
Best Use
Retail
$1.34M
$1.17M – $1.56M
NOI $93,612 @ 7.0% cap · market cap 7.20%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.00M
$1.75M – $2.33M
NOI $139,662 @ 7.0% cap · market cap 10.74%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
930
Businesses Nearby
433k
Monthly Visits Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 32%
Shops & Services 26%
Apparel 24%
Groceries 10%
Hobby Lobby
Shops & Services
60,997 visits/mo
0.3 miles
Dillard's
Apparel
35,337 visits/mo
0.3 miles
JCPenney
Apparel
31,523 visits/mo
0.4 miles
Albertsons
Groceries
30,467 visits/mo
0.1 miles
T.J. Maxx
Apparel
29,391 visits/mo
0.4 miles
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 Retail in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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Frequently Asked Questions
What type of property is this?
Showroom - Combination shop space with retail and office areas totaling 9,144 SF.
Where is this showroom located?
The property is located at 2271 Eldorado Dr Billings, MT.
What is the asking price?
The asking price for this property is $1,300,000.
What are key features of this property?
This property features: Combination of shop space with retail and office areas; Total area: 9,144 SF
