Four-Unit Medical Office Property

For Sale

$3,250,000

2700 Grand Avenue, Billings, MT 59102

Fully leased dental office condominium asset with long-term triple-net leases.

Property Size12,465 SF

Price / SF$260.73

Days on Market48

Property Features for 2700 Grand Avenue

General Information

Standard status Active

Size 12,465 SF

Class A

Property subtype Medical/Healthcare

Occupancy 100%

Additional Details

Office Units 4

Building Details

Building Size 12,465 SF

Year Built 1994

Tenancy Multi

Listing Agency: NAI Business Properties

Listed By: Drew Smith · License ##14070

Source: Thebrokerlist

Added: Sep 5 Changed: Oct 9 Last Checked: Oct 20 at 5:03PM

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

Ask AI about this property

Review the available facts, identify missing information and prepare questions for the agent.

Investment Insights

Based on property information with market context.

This medical office property comprises four condominium units totaling 12,465 SF. The units are occupied by four separate dental practices, providing a specialized office configuration within a single offering. The building was constructed in 1994, and the property has maintained full occupancy since that time.

Located at 2700 Grand Avenue in Billings, the property sits west of 24th St West in the West Billings area. Each unit is subject to a long-term triple-net lease, and the offering has no reported vacancy since construction. The property is presented as a medical office asset with an established dental tenant profile and four individually configured condominium units.

Key Highlights

12,465 SF medical office property
Four dental office condo units
100% occupancy with four separate dental practices

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$136,641

Cap Rate

4.20%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$2,732,820 $2.7M

Cap Rate 7%

$1,952,014 $2.0M

Cap Rate 9%

$1,518,233 $1.5M

Market Conditions

NOI Build-Up for 12,465 SF

Gross rent

$216.9K $17.40/SF

− Vacancy

−$34.7K −$2.78/SF

EGI

$182.2K $14.62/SF

− OpEx

−$45.5K −$3.65/SF

NOI

$136.6K $10.96/SF

Area

Billings, MT

Vacancy

16.00%

Lease Rate

$17.40 /SF/Yr

Expense Ratio

25.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$2,732,820

Cap Rate 7%

$1,952,014

Cap Rate 9%

$1,518,233

Alternative Uses

Best Use

Office B

$1.95M

$1.71M – $2.28M (±1% cap)

NOI $136,641 @ 7.0% cap · market cap 4.20%

Second Best

Healthcare Medical

$1.92M

$1.68M – $2.24M (±1% cap)

NOI $134,263 @ 7.0% cap · market cap 4.13%

Theoretical Best

Office A

$2.72M

$2.38M – $3.17M (±1% cap)

NOI $190,385 @ 7.0% cap · market cap 5.86%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Contact the owner directly Get the owner's phone numbers and email

Open Analytics

Current Use

Grand Avenue Dental ... Dental Office Gayle Roset Dental Office Billings West Dental Dental Office Dr. Tanner Bennion Dental Office Core Dental Care/Dr. ... Dental Office