New Construction Townhomes in
For Sale
Contact for pricing
Pending
3414 Granger Ave S, Billings, MT 59102
New construction townhomes with modern finishes, garages, and patios.
Property Size1,728 SF
Days on Market186
Property Features for 3414 Granger Ave S
General Information
Standard status
Pending
Size
1,728 SF
Property subtype
Multifamily
Building Details
Year Built
2026
Listing Agency:
CENTURY 21 Hometown Brokers Billings
(406) 690-0373
Listed By:
Gregory Judson · License #MT
Source:
Crexi
Added: Feb 16
Changed: Aug 18
Last Checked: Aug 20 at 3:13PM
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 CENTURY 21 Hometown Brokers Billings
Investment Insights
Based on property information with market context.
New construction townhomes are currently under construction, with an anticipated completion of the first homes around the end of May. These energy-efficient homes feature tasteful modern finishes. Available configurations include 2, 3, or 4-bedroom layouts. Each unit measures 1728 square feet; the 2-bedroom model includes an unfinished basement. Each home includes concrete patios and a master bedroom deck, along with garages and guest parking. Walkway trails connect to the property. Located in the West End, the property is near King Ave and 32nd St, situated one block from major arterial roads. Buyers committing to purchase early may have the option to choose certain colors for cabinets, countertops, wall paint, and flooring. The HOA is being determined and finalized.
Key Highlights
- New construction townhomes in a desirable West End location.
- Energy‑efficient designs with modern finishes.
- Potential for a $12,000 discount below appraised list price for early pre‑sales.
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
$14,627
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
4.43%
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%
$292,540
$292.5K
Cap Rate 7%
$208,957
$209.0K
Cap Rate 9%
$162,522
$162.5K
Market Conditions
NOI Build-Up for 1,728 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
$28.0K $16.20/SF
− Vacancy
−$1.4K −$0.81/SF
EGI
$26.6K $15.39/SF
− OpEx
−$12.0K −$6.93/SF
NOI
$14.6K $8.46/SF
Area
Billings, MT
Vacancy
5.00%
Lease Rate
$16.20 /SF/Yr
Expense Ratio
45.00%
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%
$292,540
Cap Rate 7%
$208,957
Cap Rate 9%
$162,522
Alternative Uses
Best Use
Apartment 5plus
$209.0K
$182.8K – $243.8K
NOI $14,627 @ 7.0% cap · market cap 4.43%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$377.0K
$329.9K – $439.9K
NOI $26,393 @ 7.0% cap · market cap 8.00%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
187
Businesses Nearby
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 Multifamily in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Multifamily property - New construction townhomes with modern finishes, garages, and patios.
Where is this multifamily property located?
The property is located at 3414 Granger Ave S Billings, MT.
What is the asking price?
The asking price for this property is $330,000.
What are key features of this property?
This property features: New construction townhomes in a desirable West End location.; Energy‑efficient designs with modern finishes.; Potential for a $12,000 discount below appraised list price for early pre‑sales.
