Drive-Through Restaurant
For Sale
$375,000
430 & 434 Grand Avenue, Billings, MT 59101
The property combines a drive-through kiosk with an additional commercial building for restaurant-oriented use.
Property Size1,448 SF
Days on Market93
Property Features for 430 & 434 Grand Avenue
General Information
Standard status
Active
Size
1,448 SF
Property subtype
Retail
Additional Details
Drive-Thru
Yes
Building Details
Building Size
1,448 SF
Year Built
1943
Listed By:
Nathan Matelich, SIOR, CCIM · License #MT #RRE-RBS-LIC-45092
(406) 781-6889
Source:
Cbcmontana
Added: Jun 3
Changed: Aug 31
Last Checked: Aug 31 at 2:45PM
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 Nathan Matelich, SIOR, CCIM
Investment Insights
Based on property information with market context.
This restaurant-oriented property includes a drive-through kiosk and a commercial building, creating two distinct physical components within one offering. The improvements date to 1943.
The property is located at 430 & 434 Grand Avenue in Billings, Montana.
The property is located at 430 & 434 Grand Avenue in Billings, Montana.
Key Highlights
- Drive‑through restaurant kiosk included
- Additional commercial building on the property
- Improvements date to 1943
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
$17,241
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
4.60%
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%
$344,820
$344.8K
Cap Rate 7%
$246,300
$246.3K
Cap Rate 9%
$191,567
$191.6K
Market Conditions
NOI Build-Up for 1,448 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
$23.5K $16.20/SF
− Vacancy
−$469 −$0.32/SF
EGI
$23.0K $15.88/SF
− OpEx
−$5.7K −$3.97/SF
NOI
$17.2K $11.91/SF
Area
Billings, MT
Vacancy
2.00%
Lease Rate
$16.20 /SF/Yr
Expense Ratio
25.00%
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%
$344,820
Cap Rate 7%
$246,300
Cap Rate 9%
$191,567
Alternative Uses
Best Use
Specialty Retail
$246.3K
$215.5K – $287.4K
NOI $17,241 @ 7.0% cap · market cap 4.60%
Second Best
Retail
$211.8K
$185.3K – $247.1K
NOI $14,824 @ 7.0% cap · market cap 3.95%
Theoretical Best
Office A
$315.9K
$276.5K – $368.6K
NOI $22,116 @ 7.0% cap · market cap 5.90%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
503
Businesses Nearby
34k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 63%
Dining 34%
Electronics 3%
Circle K
Shops & Services
11,888 visits/mo
0.4 miles
Holiday Station Store
Shops & Services
8,838 visits/mo
0.4 miles
Little Caesars Pizza
Dining
5,500 visits/mo
0.1 miles
City Brew Coffee
Dining
4,762 visits/mo
0.1 miles
Domino's Pizza
Dining
1,504 visits/mo
0.4 miles
Demographics for 59101, MT
41,522
Population
18,864
Households
2.2
Avg Household Size
37
Median Age
22%
College-Educated
91%
High-School Grad
590.8 sq mi
ZIP Area
70
Density / Sq Mi
$58,165
Median Household Income
$36,258
Median Earnings
$930
Median Rent
$243,000
Median Home Value
Market
Vacancy Rate% for Retail in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Drive through restaurant - The property combines a drive-through kiosk with an additional commercial building for restaurant-oriented use.
Where is this drive through restaurant located?
The property is located at 430 & 434 Grand Avenue Billings, MT.
What is the asking price?
The asking price for this property is $375,000.
What are key features of this property?
This property features: Drive‑through restaurant kiosk included; Additional commercial building on the property; Improvements date to 1943
