Lockwood Shops on 13
4053 Old Hardin Rd, Billings, MT 59101
Two shops on 13 acres, ideal for industrial use.
Type:Shop
Property size:
3,600 SFPrice / SF:
$109/SF- Added:
- Nov 22, 2025
- Days on Market:
- 181
- Last Refresh:
- Oct 28 at 12:16 pm
Property Features for 4053 Old Hardin Rd
General Information
- Standard status
- Active
- Size
- 3,600 SF
- Property subtype
- Shop
Building Details
- Year Built
- 1980
Listing agent Ethan Kanning License #RRE-RBS-LIC-45682 (406) 672-0435
Listing office NAI Business Properties (406) 672-0435
Listing date Nov 22, 2025
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
- 13.326 AC site with Outside City Limits Zoning, ideal for industrial use requiring yard space and storage.
- Two shops totaling 3,600 SF (2,400 SF and 1,200 SF) plus a 30'x80' lean to.
- Convenient access to Interstate 90 (less than 2 miles from I‑90 Interchange).
- 2,400 SF shop includes gas blower heaters, single phase power, multiple 14' overhead doors, one bathroom, and a small office space.
- Approximately 5 AC of usable land with access to Dickie Road and an additional 8 AC along Hogan Road.
- Located in Lockwood and served by Lockwood water, Yellowstone Electric, and has a septic system onsite.
Overview
This property in Lockwood (Billings), MT, features two shops, one 2,400 SF and the other 1,200 SF, situated on a 13.326 AC site. Approximately 5 AC of the site is usable land, with access to Dickie Road, and an additional 8 AC along Hogan Road. The location provides convenient access to Interstate 90 and is located on the corner of Dickie and Hogan Road. The improvements include a 2,400 SF shop built in 1980, equipped with gas blower heaters, single-phase power, multiple 14' overhead doors, one bathroom, and a small office space. Additionally, there is a smaller 1,200 SF heated and insulated garage/shop, along with a 30'x80' lean-to. The site is served by Lockwood water, Yellowstone Electric, and has a septic system onsite. The property is zoned outside city limits and is less than 2 miles from I-90 Interchange. This site is ideal for an industrial user requiring yard space and storage.
Financial Insights
Value Estimation Calculated for Warehouse
Conservative
$261.3K
NOI $23,519 @ 9.00% cap · cautious / downside scenario
Moderate
$336.0K
NOI $23,519 @ 7.00% cap · market / base-case scenario
Aggressive
$470.4K
NOI $23,519 @ 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 Warehouse
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $30.2k | $8.40 |
| − Vacancy | −$2.6k | −$0.71 |
| EGI | $27.7k | $7.69 |
| − OpEx | −$4.2k | −$1.15 |
| NOI | $23.5k | $6.53 |
3,600 SF · lease $8.40/SF/yr · vacancy 8.50% · expense 15.00%
Alternative Use Scenarios
Best Use
Warehouse
$336.0K
$294.0K – $392.0K
NOI $23,519 @ 7.0% cap · market cap 5.95%
Second Best
Industrial
$296.5K
$259.4K – $345.9K
NOI $20,752 @ 7.0% cap · market cap 5.25%
Theoretical Best
Office A
$785.5K
$687.3K – $916.4K
NOI $54,985 @ 7.0% cap · market cap 13.92%
Zoning and permitted uses should be independently verified with local authorities.
Property Profile
Insight Report
Location Intelligence
Current Use by Public Records
Klein's Auto Sales
Car Dealership
Map
- City
- Billings
- County
- Yellowstone
- State
- Montana
- Longitude
- -108.381
- Latitude
- 45.7559
Nearby Similar for Sale
FAQs
What type of property is this?
Warehouse - Two shops on 13 acres, ideal for industrial use.
Where is this warehouse located?
The property is located at 4053 Old Hardin Rd Billings, MT.
What is the asking price?
The asking price for this property is $395,000.
What are key features of this property?
This property features: 13.326 AC site with Outside City Limits Zoning, ideal for industrial use requiring yard space and storage.; Two shops totaling 3,600 SF (2,400 SF and 1,200 SF) plus a 30'x80' lean to.; Convenient access to Interstate 90 (less than 2 miles from I‑90 Interchange).
