Historic Building with Modern
For Sale
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2610 Montana Avenue, Billings, MT 59101
Redeveloped building offering retail and creative office space.
Property Size15,000 SF
Price / SF$0.00
Days on Market238
Property Features for 2610 Montana Avenue
General Information
Standard status
Active
Size
15,000 SF
Property subtype
Retail
Lease Term
NNN
Building Details
Building Size
15,000 SF
Year Built
1915
Properties For Sale
at 2610 Montana Avenue Contact usMain Floor
Size
3,750 SF
Type
Street Retail
Term
60 months
Second Floor
Size
3,750 SF
Type
Creative/Loft
Term
Negotiable
Third Floor
Size
3,750 SF
Type
Creative/Loft
Term
Negotiable
Listing Agency:
NAI Business Properties
Listed By:
Matt Robertson, SIOR
(406) 671-1158
Source:
Naiglobal
Added: Feb 26
Changed: Oct 15
Last Checked: Oct 20 at 7:37PM
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.
This turn-of-the-century building, known as the Montana Paint Building, is a redevelopment project located in downtown Billings. It features exposed brick, heavy wood timbers, and floor-to-ceiling windows. The property offers off-street parking and includes 3,750 square feet of main floor retail space suitable for a restaurant, retail shop, or gallery. The second and third floors each provide 3,750 square feet of creative office space, which can be leased separately or together. These upper floors showcase exposed brick, industrial beams, and views of Historic Montana Avenue. The building is equipped with new HVAC, an elevator, lights, restrooms, and electrical systems, designed to meet tenants' specific needs.
Key Highlights
- Prime downtown Billings location in a newly redeveloped building.
- Customizable creative office space or main floor retail space (3,750 SF per floor/space).
- Historic building with exposed brick, heavy wood timbers, and floor‑to‑ceiling windows.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$38,391
Suggested Prices Based on Cap Rates
Cap Rate 5%
$767,820
$767.8K
Cap Rate 7%
$548,443
$548.4K
Cap Rate 9%
$426,567
$426.6K
Market Conditions
NOI Build-Up for 3,750 SF
Gross rent
$56.3K $15.00/SF
− Vacancy
−$1.4K −$0.38/SF
EGI
$54.8K $14.63/SF
− OpEx
−$16.5K −$4.39/SF
NOI
$38.4K $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%
$767,820
Cap Rate 7%
$548,443
Cap Rate 9%
$426,567
Alternative Uses
Best Use
Office B
$587.2K
$513.8K – $685.1K
NOI $41,107 @ 7.0% cap · market cap 274,046.67%
Second Best
Retail
$548.4K
$479.9K – $639.9K
NOI $38,391 @ 7.0% cap · market cap 255,940.00%
Theoretical Best
Office A
$818.2K
$716.0K – $954.6K
NOI $57,276 @ 7.0% cap · market cap 381,840.00%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
3,667
Businesses Nearby
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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
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Market
Vacancy Rate% for Office in West region
Frequently Asked Questions
What type of property is this?
Retail space - Redeveloped building offering retail and creative office space.
Where is this retail space located?
The property is located at 2610 Montana Avenue Billings, MT.
What are key features of this property?
This property features: Prime downtown Billings location in a newly redeveloped building.; Customizable creative office space or main floor retail space (3,750 SF per floor/space).; Historic building with **exposed brick, heavy wood timbers, and floor‑to‑ceiling windows.**
