Mixed-Use Retail Property with NNN
2344 Grand Avenue, Billings, MT 59102
For Sale
Contact for pricing
Retail-oriented commercial property with renewed NNN leases, CPI adjustments, and recent exterior and parking improvements.
Property Size12,732 SF
Price / SF$212.06
Days on Market104
Property Features for 2344 Grand Avenue
General Information
Standard status
Size
Class
Property subtype
Zoning
Occupancy
Lease Type
Net Operating Income
Site & Location
Neighborhood
Building Details
Year Built
Year Renovated
Buildings
Stories
Units
Tenancy
Listing Agency:
Montana Listings
Listed By:
Rica Dombrovski · License MT RRE-BRO-LIC-53568
(406) 794-6896
Source:
Crexi
Added: Jul 29
Changed: Nov 5
Last Checked: Nov 8 at 8:47AM
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 Montana Listings
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Investment Insights
Based on property information with market context.
Built in 1975, this 12,732-square-foot mixed-use retail property includes a tenant roster operating under NNN lease structures. The leases were recently renewed, with at least 3 years remaining and annual CPI adjustments. The property also includes exterior upgrades and improvements to the parking areas.
An adjacent 12,280-square-foot lot provides overflow parking for the property. The site is zoned CMU1 and includes the first Wingstop location in Montana, adding a documented branded retail component to the center.
An adjacent 12,280-square-foot lot provides overflow parking for the property. The site is zoned CMU1 and includes the first Wingstop location in Montana, adding a documented branded retail component to the center.
Key Highlights
- 12,732 SF mixed‑use retail property
- NNN leases recently renewed with minimum 3 years remaining
- Annual CPI adjustments included in the leases
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$130,344
Cap Rate
4.83%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,606,880
$2.6M
Cap Rate 7%
$1,862,057
$1.9M
Cap Rate 9%
$1,448,267
$1.4M
Market Conditions
NOI Build-Up for 12,732 SF
Gross rent
$191.0K $15.00/SF
− Vacancy
−$4.8K −$0.38/SF
EGI
$186.2K $14.63/SF
− OpEx
−$55.9K −$4.39/SF
NOI
$130.3K $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 Rate 5%
$2,606,880
Cap Rate 7%
$1,862,057
Cap Rate 9%
$1,448,267
Alternative Uses
Best Use
Retail
$1.86M
$1.63M – $2.17M
NOI $130,344 @ 7.0% cap · market cap 4.83%
Second Best
Mixed Use
$1.76M
$1.54M – $2.05M
NOI $122,991 @ 7.0% cap · market cap 4.56%
Theoretical Best
Office A
$2.78M
$2.43M – $3.24M
NOI $194,463 @ 7.0% cap · market cap 7.20%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
973
Businesses Nearby
22k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 44%
Dining 33%
Apparel 13%
Home Improvements & Furnishings 7%
The UPS Store
Shops & Services
6,810 visits/mo
0.1 miles
Jimmy John's
Dining
5,983 visits/mo
0.4 miles
Play It Again Sports
Apparel
2,878 visits/mo
0.2 miles
U-Haul Moving & Storage of West End
Shops & Services
1,771 visits/mo
0.2 miles
Sherwin-Williams Paint Store
Home Improvements & Furnishings
1,494 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
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Market
Vacancy Rate% for Retail in West region
Frequently Asked Questions
What type of property is this?
Mixed-use property - Retail-oriented commercial property with renewed NNN leases, CPI adjustments, and recent exterior and parking improvements.
Where is this mixed-use property located?
The property is located at 2344 Grand Avenue Billings, MT.
What is the asking price?
The asking price for this property is $2,700,000.
What are key features of this property?
This property features: 12,732 SF mixed‑use retail property; NNN leases recently renewed with minimum 3 years remaining; Annual CPI adjustments included in the leases
