Multi-Tenant Retail and Office
323 24th St W Billings, MT 59102
For Sale
Contact for pricing
Well-maintained, multi-tenant building includes retail, office, and storage space with on-site parking.
Property Size4,320 SF
Lot Size0.25 Acres
Price / SF$190.97
Days on Market107
Property Features for 323 24th St W
General Information
- Standard status
- Active
- Size
- 4,320 SF
- Lot size
- 0.25 Acres
- Property subtype
- Retail
Building Details
- Year Built
- 1999
Listing Agency:
NAI Business Properties
(406) 294-6308
Listed By:
Matt Robertson · License #MT 14178
Source:
Crexi
Added: Apr 9
Changed: Jul 21
Last Checked: Jul 23 at 7:49AM
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.
The 24th Street Retail Building at 323 24th Street West is a well-maintained, multi-tenant property constructed in 1999. The 4,320 SF building features a functional layout designed to accommodate a mix of retail and office users, along with storage space. Asphalt and concrete paving provide on-site parking in support of tenant access.
The property is located along a high-visibility corridor in west Billings, offering strong frontage and accessibility.
The building sits on an approximately 11,000 SF lot and presents an attractive exterior with curb appeal, supporting its retail-and-office configuration.
The property is located along a high-visibility corridor in west Billings, offering strong frontage and accessibility.
The building sits on an approximately 11,000 SF lot and presents an attractive exterior with curb appeal, supporting its retail-and-office configuration.
Key Highlights
- 4,320 SF, multi‑tenant retail building at 323 24th Street West, constructed in 1999
- Approximately 11,000 SF lot with strong frontage along a high‑visibility corridor in west Billings
- Mix of retail, office, and storage space with a functional layout for multiple user types
Financial Insights For Office B
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 | $75.2k | $17.40 |
| − Vacancy | −$12.0k | −$2.78 |
| EGI | $63.1k | $14.62 |
| − OpEx | −$15.8k | −$3.65 |
| NOI | $47.4k | $10.96 |
4,320 SF · lease $17.40/SF/yr · vacancy 16.00% · expense 25.00%
Alternative Uses
Best Use
Office B
$676.5K
$592.0K – $789.3K
NOI $47,356 @ 7.0% cap · market cap 5.74%
Second Best
Retail
$631.8K
$552.8K – $737.1K
NOI $44,226 @ 7.0% cap · market cap 5.36%
Theoretical Best
Office A
$942.6K
$824.8K – $1.10M
NOI $65,982 @ 7.0% cap · market cap 8.00%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Dana & Company
Physician
W Salon
Hair Salon
New Freedom Insurance ...
Insurance Agency
LibertyX Bitcoin ATM
Atm
Tiny's Tavern
Bar & Pub
FAQs
What type of property is this?
Retail space - Well-maintained, multi-tenant building includes retail, office, and storage space with on-site parking.
Where is this retail space located?
The property is located at 323 24th St W Billings, MT.
What is the asking price?
The asking price for this property is $825,000.
What are key features of this property?
This property features: 4,320 SF, multi‑tenant retail building at 323 24th Street West, constructed in 1999; Approximately 11,000 SF lot with strong frontage along a high‑visibility corridor in west Billings; Mix of retail, office, and storage space with a functional layout for multiple user types
