Flex Property with Office
For Sale
Contact for pricing
2502-2510 Overland Ave, Billings, MT 59102
Heated warehouse space is paired with office and retail areas, private offices, a restroom, and overhead loading access.
Property Size3,600 SF
Price / SF$145.83
Days on Market586
Property Features for 2502-2510 Overland Ave
General Information
Standard status
Active
Size
3,600 SF
Property subtype
INDUSTRIAL
Warehouse & Industrial
Warehouse Space
2,000 SF
Office Build-Out
1,600 SF
Listing Agency:
NAI Business Properties
(406) 256-5000
Listed By:
Brian McDonald · License #RRE-BRO-LIC-12627
(406) 860-1567
Source:
Moodyscre
Added: Mar 17, 2025
Changed: Oct 16
Last Checked: Oct 20 at 10:37PM
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 NAI Business Properties
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Investment Insights
Based on property information with market context.
The property contains 3,600 SF with 2,000 SF of heated warehouse area and 1,600 SF devoted to office and retail use. The finished portion includes two private offices and a restroom, while a 12' x 14' overhead door provides functional access to the warehouse area. This combination supports a range of industrial and flex-space operations within one building.
Located at 2502-2510 Overland Ave in Billings, MT, the property is subject to a new three-year lease with annual increases. The lease provides an established occupancy structure for the current ownership period while combining warehouse, office, and retail components in a single commercial asset.
Located at 2502-2510 Overland Ave in Billings, MT, the property is subject to a new three-year lease with annual increases. The lease provides an established occupancy structure for the current ownership period while combining warehouse, office, and retail components in a single commercial asset.
Key Highlights
- 3,600 SF building with 2,000 SF of heated warehouse space
- 1,600 SF of office and retail area
- Two private offices and one restroom
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$28,108
Cap Rate
5.35%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$562,160
$562.2K
Cap Rate 7%
$401,543
$401.5K
Cap Rate 9%
$312,311
$312.3K
Market Conditions
NOI Build-Up for 3,600 SF
Gross rent
$47.5K $13.20/SF
− Vacancy
−$4.3K −$1.19/SF
EGI
$43.2K $12.01/SF
− OpEx
−$15.1K −$4.20/SF
NOI
$28.1K $7.81/SF
Area
Billings, MT
Vacancy
9.00%
Lease Rate
$13.20 /SF/Yr
Expense Ratio
35.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$562,160
Cap Rate 7%
$401,543
Cap Rate 9%
$312,311
Alternative Uses
Best Use
Flex RnD
$401.5K
$351.4K – $468.5K
NOI $28,108 @ 7.0% cap · market cap 5.35%
Second Best
Warehouse
$336.0K
$294.0K – $392.0K
NOI $23,519 @ 7.0% cap · market cap 4.48%
Theoretical Best
Office A
$785.5K
$687.3K – $916.4K
NOI $54,985 @ 7.0% cap · market cap 10.47%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
731
Businesses Nearby
Well-served
Demand for This Use
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Industrial in West region
Frequently Asked Questions
What type of property is this?
Flex space - Heated warehouse space is paired with office and retail areas, private offices, a restroom, and overhead loading access.
Where is this flex space located?
The property is located at 2502-2510 Overland Ave Billings, MT.
What is the asking price?
The asking price for this property is $525,000.
What are key features of this property?
This property features: 3,600 SF building with 2,000 SF of heated warehouse space; 1,600 SF of office and retail area; Two private offices and one restroom
