Eco-Friendly Multifamily Property in
2605 Minnesota Avenue, Billings, MT 59101
Professionally designed, eco-friendly apartments with potential for additional revenue.
Type:Multifamily
Property size:
12,720 SFPrice / SF:
$141/SF- Added:
- Nov 21, 2025
- Days on Market:
- 182
- Last Refresh:
- Apr 5 at 10:41 pm
Property Features for 2605 Minnesota Avenue
General Information
- Standard status
- Active
- Size
- 12,720 SF
- Property subtype
- Multifamily
Building Details
- Year Built
- 1916
Listing agent Matt Robertson, SIOR License ##62446 (406) 294-6308
Listing office NAI Business Properties (406) 294-6308
Listing date Nov 21, 2025
Source Naiglobal
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
HighLights
- Prime location in downtown Billings, Montana, within walking distance of shops, museums, hospitals, universities, nightlife, and fitness centers.
- Eco‑friendly design with solar panels and radiant floor heating and cooling.
- Professionally designed, modern apartments with a blend of historic renovation and ultra‑modern finishes.
- Successful Air B&B history provides potential for additional revenue stream.
- Controlled access entry system with intercom for enhanced security.
- Fully landscaped outdoor area with gas grill and seating for resident enjoyment.
Overview
This multifamily property in Billings, Montana, offers a selection of one- and two-bedroom apartments. The property features a controlled access entry system with an intercom. The apartments include radiant floor heating and cooling. On-site laundry facilities are available. The property includes fully landscaped outdoor areas with a gas grill and seating, as well as solar panels. The property has a history of operation as an Air B&B, providing a potential additional revenue stream. The 12,720 square foot property contains 9 units. The property is located in the Old Town Neighborhood of downtown Billings, near shops, museums, hospitals, universities, nightlife and fitness centers.
Financial Insights
Value Estimation Calculated for Apartment 5plus
Conservative
$1.20M
NOI $107,668 @ 9.00% cap · cautious / downside scenario
Moderate
$1.54M
NOI $107,668 @ 7.00% cap · market / base-case scenario
Aggressive
$2.15M
NOI $107,668 @ 5.00% cap · optimistic / upside scenario
NOI & Cap Rate Calculator
NOI Build-Up
- 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.
Calculated for Apartment 5plus
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $206.1k | $16.20 |
| − Vacancy | −$10.3k | −$0.81 |
| EGI | $195.8k | $15.39 |
| − OpEx | −$88.1k | −$6.93 |
| NOI | $107.7k | $8.46 |
12,720 SF · lease $16.20/SF/yr · vacancy 5.00% · expense 45.00%
Alternative Use Scenarios
Best Use
Apartment 5plus
$1.54M
$1.35M – $1.79M
NOI $107,668 @ 7.0% cap · market cap 5.98%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.78M
$2.43M – $3.24M
NOI $194,280 @ 7.0% cap · market cap 10.79%
Zoning and permitted uses should be independently verified with local authorities.
Property Profile
Insight Report
Location Intelligence
Current Use by Public Records
Swift Lodging
Apartment Building
Location Insight
- Map
- Local Demand
- City
- Billings
- County
- Yellowstone
- State
- Montana
- Longitude
- -108.502
- Latitude
- 45.7816
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FAQs
What type of property is this?
Apartment building - Professionally designed, eco-friendly apartments with potential for additional revenue.
Where is this apartment building located?
The property is located at 2605 Minnesota Avenue Billings, MT.
What is the asking price?
The asking price for this property is $1,800,000.
What are key features of this property?
This property features: Prime location in downtown Billings, Montana, within walking distance of shops, museums, hospitals, universities, nightlife, and fitness centers.; Eco‑friendly design with solar panels and radiant floor heating and cooling.; Professionally designed, modern apartments with a blend of historic renovation and ultra‑modern finishes.
