Executive Medical Office &
For Sale
Contact for pricing
Pending
2747 Enterprise Ave, Billings, MT 59102
Executive medical office offering 11 private offices, ADA access, and a finished warehouse with a 12' overhead door.
Property Size7,145 SF
Days on Market138
Property Features for 2747 Enterprise Ave
General Information
Standard status
Pending
Size
7,145 SF
Property subtype
Office, Special Purpose
Zoning
CX Heavy Commercial
Investment Type
Owner/User
Building Details
Year Built
2002
Year Renovated
2023
Buildings
1
Stories
1
Units
2
Listing Agency:
The Agency Montana
Listed By:
Lauren Bond · License #BRO 54002
(406) 800-1222
Source:
Crexi
Added: Apr 22
Changed: Aug 8
Last Checked: Jul 24 at 10:15AM
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 The Agency Montana
Investment Insights
Based on property information with market context.
This executive medical office and finished warehouse is configured with two entry doors and originally set up as two units, creating flexibility to re-split if desired. A separate side entrance adds an additional waiting room area, and the space is designed with no steps for ADA accessibility. Interior improvements include 11 private offices, several other large rooms suitable for additional office use, and a finished warehouse area with a 12' overhead door. The unit also includes a kitchen/break room and a patio with turfed landscaping for low-maintenance upkeep, with 13' and 16' ceilings throughout.
The property sits within a well-maintained commercial development just off King Ave and Gabel Rd, positioned behind the Home Depot shopping center. It is part of a small, well-managed HOA.
The current space is occupied by the owners, who will vacate at closing, and it presents a combined office and warehouse layout within an HOA-managed commercial complex.
The property sits within a well-maintained commercial development just off King Ave and Gabel Rd, positioned behind the Home Depot shopping center. It is part of a small, well-managed HOA.
The current space is occupied by the owners, who will vacate at closing, and it presents a combined office and warehouse layout within an HOA-managed commercial complex.
Key Highlights
- Year built 2002 executive medical office in a well‑maintained commercial development off King Ave and Gabel Rd.
- Originally set up as 2 units with 2 entry doors; opportunity to re‑split if desired.
- ADA‑compliant with no steps, plus a separate side entrance for an additional waiting room area.
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$78,323
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
7.12%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,566,460
$1.6M
Cap Rate 7%
$1,118,900
$1.1M
Cap Rate 9%
$870,256
$870.3K
Market Conditions
NOI Build-Up for 7,145 SF
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.
Gross rent
$124.3K $17.40/SF
− Vacancy
−$19.9K −$2.78/SF
EGI
$104.4K $14.62/SF
− OpEx
−$26.1K −$3.65/SF
NOI
$78.3K $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 rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,566,460
Cap Rate 7%
$1,118,900
Cap Rate 9%
$870,256
Alternative Uses
Best Use
Office B
$1.12M
$979.0K – $1.31M
NOI $78,323 @ 7.0% cap · market cap 7.12%
Second Best
Healthcare Medical
$1.10M
$962.0K – $1.28M
NOI $76,960 @ 7.0% cap · market cap 7.00%
Theoretical Best
Office A
$1.56M
$1.36M – $1.82M
NOI $109,130 @ 7.0% cap · market cap 9.92%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
711
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 59102, MT
48,133
Population
22,706
Households
2.1
Avg Household Size
41
Median Age
43%
College-Educated
97%
High-School Grad
15.0 sq mi
ZIP Area
3,209
Density / Sq Mi
$75,140
Median Household Income
$43,203
Median Earnings
$1,148
Median Rent
$307,400
Median Home Value
Market
Vacancy Rate% for Office in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Medical Office Space - Executive medical office offering 11 private offices, ADA access, and a finished warehouse with a 12' overhead door.
Where is this medical office space located?
The property is located at 2747 Enterprise Ave Billings, MT.
What is the asking price?
The asking price for this property is $1,100,000.
What are key features of this property?
This property features: Year built 2002 executive medical office in a well‑maintained commercial development off King Ave and Gabel Rd.; Originally set up as 2 units with 2 entry doors; opportunity to re‑split if desired.; ADA‑compliant with no steps, plus a separate side entrance for an additional waiting room area.
