Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Industrial/Flex Space on 20 Acres Title is generated by Realmo AI

    3925 Coulson Road East, Billings, MT 59101

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Sale
    $1,950,000

    Versatile industrial/flex space with living quarters on 20 acres.

    Type:Industrial
    Property size:
    9,962 SF
    Lot size:
    20.00 Acres
    Price / SF:
    $195/SF
    Added:
    Mar 6, 2026
    Days on Market:
    77
    Last Refresh:
    Apr 5 at 11:08 pm

    Property Features for 3925 Coulson Road East

    General Information

    Standard status
    Active
    Size
    9,962 SF
    Lot size
    20.00 Acres
    Property subtype
    Industrial

    We can help!

    Listing Contact
    Tyler Samson
    Tyler Samson

    Listing agent Tyler Samson License #R​R​E​-​R​B​S​-​L​I​C​-​2​5​4​3​3

    Listing office NAI Business Properties

    Listing date Mar 6, 2026

    Source Naiglobal

    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

    HighLights

    • Versatile 9,962 SF industrial/flex space with a 5,454 SF shop, a 3,548 SF house, and an additional 960 SF shop on 20 acres.
    • Unique work and live opportunity with a fully remodeled 6 bed/3 bath house.
    • 5,454 SF shop features 3 overhead doors and 3‑phase power with HEATED FLOORS.
    • Located outside of Billings and Yellowstone County Zoning, near Johnson Lane Interchange, in a growing industrial area with great Interstate access.
    • Additional 12 acres of land for development or horse property.
    • Located near the new Mary Street Bridge in Lockwood.

    Overview

    This property offers a versatile industrial/flex space opportunity, featuring a 5,454 square foot shop with 3 overhead doors, a 3,548 square foot house with 6 beds and 3 baths, and an additional 960 square foot shop, all situated on a 20-acre lot. The property is located outside of Billings and Yellowstone County Zoning, near the Johnson Lane Interchange, in a growing industrial area with access to the Interstate. The main shop includes 3-phase power and heated floors. The house has been fully remodeled with new appliances, carpet, paint, roof, and siding. The house and shops sit on 8 acres, with an additional 12 acres available for development or use as horse property. The property is located near the new Mary Street Bridge in Lockwood, presenting a unique work and live opportunity.

    Financial Insights

    Value Estimation Calculated for Office B

    Conservative
    $1.21M
    NOI $109,203 @ 9.00% cap · cautious / downside scenario
    Moderate
    $1.56M
    NOI $109,203 @ 7.00% cap · market / base-case scenario
    Aggressive
    $2.18M
    NOI $109,203 @ 5.00% cap · optimistic / upside scenario

    NOI & Cap Rate Calculator

    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.
         Calculated for Office B

    Component $ $/SF
    Gross rent $173.3k $17.40
    − Vacancy −$27.7k −$2.78
    EGI $145.6k $14.62
    − OpEx −$36.4k −$3.65
    NOI $109.2k $10.96
    9,962 SF · lease $17.40/SF/yr · vacancy 16.00% · expense 25.00%

    Alternative Use Scenarios

    Best Use
    Office B
    $1.56M
    $1.37M – $1.82M (±1% cap)
    NOI $109,203 @ 7.0% cap · market cap 5.60%
    Second Best
    Mixed Use
    $1.37M
    $1.20M – $1.60M (±1% cap)
    NOI $96,233 @ 7.0% cap · market cap 4.94%
    Theoretical Best
    Office A
    $2.17M
    $1.90M – $2.54M (±1% cap)
    NOI $152,156 @ 7.0% cap · market cap 7.80%
    Zoning and permitted uses should be independently verified with local authorities.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Flex space

    Suggested Use

    Building Supply Big Box & Wholesale Store Auto Repair Shop Accounting Firm Garden Center Electrical Service

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Billings
    County
    Yellowstone
    State
    Montana
    Longitude
    -108.384
    Latitude
    45.8422

    Nearby Similar for Sale

    • $314,000
      3,000 SF

      New Steel Shop on Acreage

      Newly constructed 3000 SF shop on over an acre.
      243 S 80th St W, Billings, MT 59106
      View Details
    • $510,000
      3,120 SF

      Free Standing Retail Building

      Midtown retail building suitable for retail, office, or medical use.
      644 Broadwater Avenue, Billings, MT 59102
      View Details
    • $779,900
      4,125 SF

      Billings Grow Facility with Shop

      State-of-the-art grow facility with commercial shop on 1.45 acres.
      6 89th Street S, Billings, MT 59106
      View Details
    • $599,999
      3,276 SF

      Remodeled Duplex Investment Opportunity

      Remodeled duplex in Billings, MT with leases in place.
      1322 Babcock Circle, Billings, MT 59105
      View Details
    • $135,000
      3,420 SF

      Billings Commercial Building on Corner Lot

      3,420 SF commercial building on 0.51-acre corner lot.
      1 MacArthur Ave, Billings, MT 59101
      View Details
    • $390,000
      2,929 SF

      Westend Industrial Condo/Flex Space

      Versatile industrial condo/flex space in prime Westend location.
      2697 Enterprise Avenue, Billings, MT 59102
      View Details
    • $675,000
      6,811 SF

      Mixed-Use Property in Billings, MT

      Mixed-use property with high traffic exposure and development potential.
      1315 6th Ave. N, Billings, MT 59101
      View Details
    • $825,000
      5,600 SF

      Billings Heights 5-Plex Investment

      Five 2-bed units near Lake Elmo with income potential.
      405 Roxy Lane, Billings, MT 59105
      View Details
    • $355,000
      5,879 SF

      Billings Retail/Warehouse Opportunity

      Retail and warehouse space in Billings, Montana.
      3407 Montana Avenue, Billings, MT 59101
      View Details
    • $999,000
      7,145 SF

      Prime Office/Flex Space For Sale

      6,345 SF office and 800 SF flex space.
      2747 Enterprise #5 Avenue, Billings, MT 59102
      View Details
    • $3,500
      900 SF

      Highway 312 Commercial Property

      4-acre commercial property with shop for lease.
      4380 Us Highway 312, Billings, MT 59105
      View Details
    • $2,900
      3,480 SF

      Office/Warehouse Space For Sale

      Versatile office and warehouse space with secure storage.
      707 Wagon Trail E - NNN LEASE LISTING, Billings, MT 59106
      View Details

    FAQs

    What type of property is this?
    Flex space - Versatile industrial/flex space with living quarters on 20 acres.
    Where is this flex space located?
    The property is located at 3925 Coulson Road East Billings, MT.
    What is the asking price?
    The asking price for this property is $1,950,000.
    What are key features of this property?
    This property features: Versatile 9,962 SF industrial/flex space with a 5,454 SF shop, a 3,548 SF house, and an additional 960 SF shop on 20 acres.; Unique work and live opportunity with a fully remodeled 6 bed/3 bath house.; **5,454 SF shop features 3 overhead doors and 3‑phase power with HEATED FLOORS.**
    (406) 294-6309
    We can help!
    Listing Contact
    Tyler Samson
    Tyler Samson
    Real Estate License ID: R​R​E​-​R​B​S​-​L​I​C​-​2​5​4​3​3
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    3925 Coulson Road East, Billings, MT 59101
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!