Modern Self-Storage Facility For
For Sale
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5745 Elysian Rd, Billings, MT
Newly constructed self-storage facility in a developing area.
Property Size40,640 SF
Lot Size4.79 Acres
Price / SF$71.36
Days on Market481
Property Features for 5745 Elysian Rd
General Information
Standard status
Active
Size
40,640 SF
Lot size
4.79 Acres
Property subtype
INDUSTRIAL
Listing Agency:
NAI Business Properties
(406) 860-1567
Listed By:
Brian McDonald · License #RRE-BRO-LIC-12627
(406) 860-1567
Source:
Moodyscre
Added: Apr 18, 2025
Changed: Aug 8
Last Checked: May 20 at 8:01PM
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
Investment Insights
Based on property information with market context.
This property, constructed in 2021 and 2022, is a self-storage facility situated on a fully paved site. It features security cameras and gated access with keypad entry and exit. The facility offers 200 units in three sizes: 10'x10', 10'x20', and 12'x30', providing storage space for tenants. The property is strategically located in a developing residential and commercial area and is an ideal investment opportunity in the self-storage market. The property size is 40640 square feet.
Key Highlights
- Newly constructed in 2021 & 2022
- 200 units in three sizes 10'x10', 10'x20' & 12'x30'**
- Security cameras & gated access with key pad entry/exit
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
$234,269
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
8.08%
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%
$4,685,380
$4.7M
Cap Rate 7%
$3,346,700
$3.3M
Cap Rate 9%
$2,602,989
$2.6M
Market Conditions
NOI Build-Up for 40,640 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
$365.8K $9.00/SF
− Vacancy
−$31.1K −$0.77/SF
EGI
$334.7K $8.24/SF
− OpEx
−$100.4K −$2.47/SF
NOI
$234.3K $5.76/SF
Area
Billings, MT
Vacancy
8.50%
Lease Rate
$9.00 /SF/Yr
Expense Ratio
30.00%
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%
$4,685,380
Cap Rate 7%
$3,346,700
Cap Rate 9%
$2,602,989
Alternative Uses
Best Use
Self Storage
$4.76M
$4.17M – $5.56M
NOI $333,354 @ 7.0% cap · market cap 11.49%
Second Best
Industrial
$3.35M
$2.93M – $3.90M
NOI $234,269 @ 7.0% cap · market cap 8.08%
Theoretical Best
Office A
$8.87M
$7.76M – $10.35M
NOI $620,719 @ 7.0% cap · market cap 21.40%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
220
Businesses Nearby
Explore this area
Business Placement
Market
Vacancy Rate% for Industrial in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Self storage facility - Newly constructed self-storage facility in a developing area.
Where is this self storage facility located?
The property is located at 5745 Elysian Rd Billings, MT.
What is the asking price?
The asking price for this property is $2,900,000.
What are key features of this property?
This property features: Newly constructed in 2021 & 2022; 200 units in three sizes 10'x10', 10'x20' & 12'x30'**; Security cameras & gated access with key pad entry/exit
