Eco-Friendly Multifamily Property in
For Sale
$1,800,000
2605 Minnesota Avenue, Billings, MT 59101
Professionally designed, eco-friendly apartments with potential for additional revenue.
Property Size12,720 SF
Price / SF$141.51
Days on Market324
Property Features for 2605 Minnesota Avenue
General Information
Standard status
Active
Size
12,720 SF
Property subtype
Multifamily
Building Details
Building Size
12,720 SF
Year Built
1916
Listing Agency:
NAI Business Properties
Listed By:
Matt Robertson, SIOR
(406) 671-1158
Source:
Naiglobal
Added: Nov 21, 2025
Changed: Oct 10
Last Checked: Oct 11 at 5:08AM
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
Investment Insights
Based on property information with market context.
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.
Key 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.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$107,668
Cap Rate
5.98%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,153,360
$2.2M
Cap Rate 7%
$1,538,114
$1.5M
Cap Rate 9%
$1,196,311
$1.2M
Market Conditions
NOI Build-Up for 12,720 SF
Gross rent
$206.1K $16.20/SF
− Vacancy
−$10.3K −$0.81/SF
EGI
$195.8K $15.39/SF
− OpEx
−$88.1K −$6.93/SF
NOI
$107.7K $8.46/SF
Area
Billings, MT
Vacancy
5.00%
Lease Rate
$16.20 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,153,360
Cap Rate 7%
$1,538,114
Cap Rate 9%
$1,196,311
Alternative Uses
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 authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
2,975
Businesses Nearby
Explore this area
Business Placement
Demographics for 59101, MT
41,522
Population
18,864
Households
2.2
Avg Household Size
37
Median Age
22%
College-Educated
91%
High-School Grad
590.8 sq mi
ZIP Area
70
Density / Sq Mi
$58,165
Median Household Income
$36,258
Median Earnings
$930
Median Rent
$243,000
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 Multifamily in West region
Questions? Ask Rey
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Frequently Asked Questions
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.
