Concrete Tilt-Up Retail and Office
For Sale
Contact for pricing
2271 Eldorado Dr, Billings, MT 59102
Concrete tilt-up building with a flexible retail/office layout, ample front parking, and fenced outdoor storage.
Property Size9,144 SF
Lot Size0.56 Acres
Price / SF$142.17
Days on Market25
Property Features for 2271 Eldorado Dr
General Information
Standard status
Active
Size
9,144 SF
Lot size
0.56 Acres
Property subtype
RETAIL
Additional Details
Asking Price
$1,300,000
Traffic Count
22,400 vehicles/day
Amenities
Fenced Yard / Outdoor Storage Area
Building Details
Buildings
1
Construction
tilt-up concrete
Listing Agency:
Coldwell Banker Commercial CBS
(406) 698-8636
Listed By:
Bruce Knudsen
(406) 698-8636
Source:
Moodyscre
Added: Jul 27
Changed: Jul 30
Last Checked: Jul 30 at 1:24PM
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.
Concrete tilt-up retail and office building totaling 9,144 SF, set on a 24,456 SF lot. The space is configured with a flexible shop, retail, and office layout, and includes ample front parking.
The property is in a high-visibility location near 24th St W and Central Ave, with approximately 22,400 VPD on 24th St W. Additional outdoor utility comes from a fenced yard and an outdoor storage area, supporting businesses that need secure space for equipment or inventory.
With its concrete tilt-up construction, prominent frontage on 24th St W, and adaptable interior layout, the building is suited to tenants seeking a combined retail and office footprint with practical on-site storage and parking.
The property is in a high-visibility location near 24th St W and Central Ave, with approximately 22,400 VPD on 24th St W. Additional outdoor utility comes from a fenced yard and an outdoor storage area, supporting businesses that need secure space for equipment or inventory.
With its concrete tilt-up construction, prominent frontage on 24th St W, and adaptable interior layout, the building is suited to tenants seeking a combined retail and office footprint with practical on-site storage and parking.
Key Highlights
- 9,144 SF building on a 24,456 SF lot
- Flexible shop, retail and office layout
- Concrete tilt‑up construction
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
$100,237
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
7.71%
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%
$2,004,740
$2.0M
Cap Rate 7%
$1,431,957
$1.4M
Cap Rate 9%
$1,113,744
$1.1M
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
$159.1K $17.40/SF
− Vacancy
−$25.5K −$2.78/SF
EGI
$133.6K $14.62/SF
− OpEx
−$33.4K −$3.65/SF
NOI
$100.2K $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 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%
$2,004,740
Cap Rate 7%
$1,431,957
Cap Rate 9%
$1,113,744
Alternative Uses
Best Use
Office B
$1.43M
$1.25M – $1.67M
NOI $100,237 @ 7.0% cap · market cap 7.71%
Second Best
Retail
$1.34M
$1.17M – $1.56M
NOI $93,612 @ 7.0% cap · market cap 7.20%
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
Current Use
Lease Details
22,400 VPD
Traffic count
Location Intelligence
Trade Area within ½ mile
930
Businesses Nearby
Explore this area
Business Placement
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 Office in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Retail space - Concrete tilt-up building with a flexible retail/office layout, ample front parking, and fenced outdoor storage.
Where is this retail space 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: 9,144 SF building on a 24,456 SF lot; Flexible shop, retail and office layout; Concrete tilt‑up construction
