Historic Quonset Work/Live
2611 Minnesota Avenue Billings, MT 59101
2611 Minnesota Avenue, Billings, MT, 59101
$450,000
For Sale
$450,000
Renovated 1948 Quonset building includes modern office space, garage/shop, and a furnished one-bedroom apartment.
Property Size6,100 SF
Price / SF$73.77
Days on Market10
Property Features for 2611 Minnesota Avenue
General Information
- Standard status
- Active
- Size
- 6,100 SF
- Property subtype
- Office
Building Details
- Year Built
- 1948
Listing agency
NAI Business Properties
(406) 672-1443
Listed by
Haley Vannatta, CCIM · License #MT #62446
(406) 672-1443
Source
Naiglobal
Added: Jul 12 Updated: Jul 13 at 2:27AM Checked: Jul 21 at 5:30AM
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 for-sale work/live property is housed in a historic Quonset building originally built in 1948 and extensively renovated in 2016. The building totals approximately 6,100 square feet and combines multiple functional areas, including about 1,968 square feet of modern office space and about 2,852 square feet of garage or shop space with four parking spaces. In addition, there is an approximately 1,280 square foot furnished one-bedroom apartment, described as having a king bed and a washer/dryer.
The property is positioned for access to downtown and to I-90, and it also provides access to Billings Logan International Airport.
Internally, the offering is structured to support combined work and living needs, with contemporary interior finishes and a layout described as functional for professional use by owners, employees, or clients.
The property is positioned for access to downtown and to I-90, and it also provides access to Billings Logan International Airport.
Internally, the offering is structured to support combined work and living needs, with contemporary interior finishes and a layout described as functional for professional use by owners, employees, or clients.
Key Highlights
- Historic Quonset building built in 1948, extensively renovated in 2016
- About 6,100 SF total, including 1,968 SF modern office space
- 1,280 SF furnished 1‑bedroom apartment with king bed and washer/dryer
Local Financial Insights For Industrial
Simulate Cap Rate and NOI
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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $54.9k | $9.00 |
| − Vacancy | −$4.7k | −$0.77 |
| EGI | $50.2k | $8.24 |
| − OpEx | −$15.1k | −$2.47 |
| NOI | $35.2k | $5.76 |
6,100 SF · lease $9.00/SF/yr · vacancy 8.50% · expense 30.00%
Alternative Uses
Best Use
Office B
$955.3K
$835.9K – $1.11M
NOI $66,868 @ 7.0% cap · market cap 14.86%
Second Best
Mixed Use
$841.8K
$736.6K – $982.1K
NOI $58,926 @ 7.0% cap · market cap 13.09%
Theoretical Best
Office A
$1.33M
$1.16M – $1.55M
NOI $93,169 @ 7.0% cap · market cap 20.70%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Steve Harman Law, ...
Law Firm
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FAQs
What type of property is this?
Live-work space - Renovated 1948 Quonset building includes modern office space, garage/shop, and a furnished one-bedroom apartment.
Where is this live-work space located?
The property is located at 2611 Minnesota Avenue Billings, MT.
What is the asking price?
The asking price for this property is $450,000.
What are key features of this property?
This property features: Historic Quonset building built in 1948, extensively renovated in 2016; About 6,100 SF total, including 1,968 SF modern office space; 1,280 SF furnished 1‑bedroom apartment with king bed and washer/dryer
