Mixed-Use Retail Property with NNN
For Sale
Contact for pricing
2344 Grand Avenue, Billings, MT 59102
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 Market69
Property Features for 2344 Grand Avenue
General Information
Standard status
Active
Size
12,732 SF
Class
B
Property subtype
Retail, Office, Mixed Use
Zoning
CMU1
Occupancy
100%
Lease Type
NNN
Net Operating Income
$176,802
Building Details
Year Built
1975
Year Renovated
2025
Buildings
1
Stories
1
Units
5
Tenancy
Multi
Listing Agency:
Montana Listings
Listed By:
Rica Dombrovski · License #MT RRE-BRO-LIC-53568
(406) 794-6896
Source:
Crexi
Added: Jul 29
Changed: Oct 4
Last Checked: Oct 4 at 9:41AM
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
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.
Property Analytics
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Open Analytics
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Retail in West region
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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
