Enclosed Steel Warehouse
For Sale
$164,900
407 E Recreation Drive, Billings, MT 59106
CommercialSale, Billings, MT
Property Size1,344 SF
Lot Size0.18 Acres
Price / SF$122.69
Days on Market51
Property Features for 407 E Recreation Drive
General Information
Property type
Commercial Sale
Property subtype
Other
Property condition
Under Construction
Zoning description
Un-zoned
Subdivision
Shop World 406
Standard status
Active
APN
C18963
Lot size
0.18 Acres
Taxes and HOA fees
Tax Description
SHOP WORLD 406 SUBD (24), S07, T01 S, R25 E, Lot 139
Tax Annual Amount
57
Legal Description
SHOP WORLD 406 SUBD (24), S07, T01 S, R25 E, Lot 139
Building Details
Year built
2026
Floors in Building
1
Building materials
MetalSiding
Roof type
Metal
Listing Agency:
Keller Williams Yellowstone Properties · Keller Williams Realty
(406) 655-0005
Listed By:
Pat Schindele · License #RRE-BRO-LIC-8806
(406) 591-2551
Added: Aug 17
Changed: Sep 12
Last Checked: Oct 6 at 7:06AM
MLS# 357604
Copyright © 2026 Billings Association of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This under-construction warehouse shop at 407 E Recreation Drive provides a fully enclosed 24-by-56-foot steel-sided structure on a 0.1837-acre lot. The building includes a man door, a 14-foot-high by 12-foot-wide roll-up door, a 200 Amp electrical panel, two interior overhead LED lights, and exterior soffit lighting. Metal siding and a metal roof complete the construction package.
A 40-foot enclosed side yard is secured with blackout fencing and a gate. The subdivision includes electronic entry gates, and driveway paving is planned subject to weather conditions. The property is located in Billings, Montana, within Yellowstone County, and is scheduled for a 2026 build year.
A 40-foot enclosed side yard is secured with blackout fencing and a gate. The subdivision includes electronic entry gates, and driveway paving is planned subject to weather conditions. The property is located in Billings, Montana, within Yellowstone County, and is scheduled for a 2026 build year.
Key Highlights
- 24‑by‑56‑foot enclosed steel‑sided shop
- 14‑foot‑high by 12‑foot‑wide roll‑up door plus man door
- 200 Amp electrical panel with two overhead LED lights
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$8,780
Cap Rate
5.32%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$175,600
$175.6K
Cap Rate 7%
$125,429
$125.4K
Cap Rate 9%
$97,556
$97.6K
Market Conditions
NOI Build-Up for 1,344 SF
Gross rent
$11.3K $8.40/SF
− Vacancy
−$960 −$0.71/SF
EGI
$10.3K $7.69/SF
− OpEx
−$1.5K −$1.15/SF
NOI
$8.8K $6.53/SF
Area
Billings, MT
Vacancy
8.50%
Lease Rate
$8.40 /SF/Yr
Expense Ratio
15.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$175,600
Cap Rate 7%
$125,429
Cap Rate 9%
$97,556
Alternative Uses
Best Use
Warehouse
$125.4K
$109.8K – $146.3K
NOI $8,780 @ 7.0% cap · market cap 5.32%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$293.3K
$256.6K – $342.1K
NOI $20,528 @ 7.0% cap · market cap 12.45%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
1
Drive-in doors
Yes
Fenced yard
Location Intelligence
Trade Area within ½ mile
60
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 59106, MT
20,681
Population
8,164
Households
2.5
Avg Household Size
40
Median Age
52%
College-Educated
98%
High-School Grad
112.0 sq mi
ZIP Area
185
Density / Sq Mi
$122,374
Median Household Income
$52,380
Median Earnings
$1,380
Median Rent
$483,100
Median Home Value
Market
Vacancy Rate% for Industrial in West region
Questions? Ask Rey
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Similar Off Market Nearby
- Billings Storage — 6909 King Ave W, Billings, MT 59106
- 4E Storage Solutions — 712 S 64th St W, Billings, MT 59106
Frequently Asked Questions
What type of property is this?
Warehouse - Under-construction metal shop with enclosed storage, dedicated power, roll-up access, and a gated side yard.
Where is this warehouse located?
The property is located at 407 E Recreation Drive Billings, MT.
What is the asking price?
The asking price for this property is $164,900.
What are key features of this property?
This property features: 24‑by‑56‑foot enclosed steel‑sided shop; 14‑foot‑high by 12‑foot‑wide roll‑up door plus man door; 200 Amp electrical panel with two overhead LED lights
