Flex Space with Overhead
For Sale
$259,900
580 Jackson Street, Billings, MT 59101
Versatile shop configuration includes workspace, a private office, and a bathroom with shower.
Property Size1,584 SF
Price / SF$164.08
Days on Market17
Property Features for 580 Jackson Street
General Information
Standard status
Active
Size
1,584 SF
Property subtype
Office
Taxes and HOA fees
Annual Taxes
$636
Amenities
two large overhead doors
air compressor
washer/dryer hookups
dedicated office area
bathroom w/shower
Building Details
Building Size
1,584 SF
Year Built
1964
Listing Agency:
Metro, REALTORS L.L.P
(406) 860-2223
Listed By:
Brem Fellman · License #RRE-BRO-LIC-16797
(406) 860-2223
Source:
Careychapman
Added: Aug 13
Changed: Aug 28
Last Checked: Aug 22 at 5:51AM
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 Metro, REALTORS L.L.P
Investment Insights
Based on property information with market context.
This 1,584-square-foot flex space was built in 1964 and is configured for shop, garage, workspace, or storage use. The interior includes 14-foot ceilings, two 12-foot overhead doors, an air compressor, washer and dryer hookups, a dedicated office, and a bathroom with shower. The property information also notes that exterior signage is prohibited by property covenants.
Located at 580 Jackson St in Billings, Montana, the space provides a practical layout for business operations, equipment work, projects, or secure storage. Its combination of substantial door clearance, vertical space, office accommodation, and plumbing-related features supports a range of commercial and workshop functions.
Located at 580 Jackson St in Billings, Montana, the space provides a practical layout for business operations, equipment work, projects, or secure storage. Its combination of substantial door clearance, vertical space, office accommodation, and plumbing-related features supports a range of commercial and workshop functions.
Key Highlights
- 1,584 square feet of flex space
- 14‑foot ceiling height
- Two 12‑foot overhead doors
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
$12,368
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
4.76%
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%
$247,360
$247.4K
Cap Rate 7%
$176,686
$176.7K
Cap Rate 9%
$137,422
$137.4K
Market Conditions
NOI Build-Up for 1,584 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
$20.9K $13.20/SF
− Vacancy
−$1.9K −$1.19/SF
EGI
$19.0K $12.01/SF
− OpEx
−$6.7K −$4.20/SF
NOI
$12.4K $7.81/SF
Area
Billings, MT
Vacancy
9.00%
Lease Rate
$13.20 /SF/Yr
Expense Ratio
35.00%
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%
$247,360
Cap Rate 7%
$176,686
Cap Rate 9%
$137,422
Alternative Uses
Best Use
Flex RnD
$176.7K
$154.6K – $206.1K
NOI $12,368 @ 7.0% cap · market cap 4.76%
Second Best
Warehouse
$147.8K
$129.4K – $172.5K
NOI $10,348 @ 7.0% cap · market cap 3.98%
Theoretical Best
Office A
$345.6K
$302.4K – $403.2K
NOI $24,193 @ 7.0% cap · market cap 9.31%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
103
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
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 Industrial 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?
Flex space - Versatile shop configuration includes workspace, a private office, and a bathroom with shower.
Where is this flex space located?
The property is located at 580 Jackson Street Billings, MT.
What is the asking price?
The asking price for this property is $259,900.
What are key features of this property?
This property features: 1,584 square feet of flex space; 14‑foot ceiling height; Two 12‑foot overhead doors
