Flex Space with Overhead
For Sale
$259,900
580 Jackson Street, Billings, MT 59101
CommercialSale, Billings, MT
Property Size1,584 SF
Lot Size0.12 Acres
Price / SF$164.08
Days on Market8
Property Features for 580 Jackson Street
General Information
Property type
Commercial Sale
Property subtype
Office
Zoning description
N2 - Mid-Century Neighborhood Residential
Parking
4
Parking features
On Street
Subdivision
TREASURE VALLEY SUBD
Directions
State Avenue to Jackson Street
Standard status
Active
APN
A27700
Size
1,584 SF
Lot size
0.12 Acres
Taxes and HOA fees
Tax Description
TREASURE VALLEY SUBD, S09, T01 S, R26 E, BLOCK 5, Lot 1A, AMND LT 1-3 E2 LT 4
Tax Annual Amount
636
Expense value
2000
Expense
SecurityDeposit
Expense freq.
One Time
Legal Description
TREASURE VALLEY SUBD, S09, T01 S, R26 E, BLOCK 5, Lot 1A, AMND LT 1-3 E2 LT 4
Utilities
Sewer type
Septic Tank
Heating system
Natural Gas, Hot Water(Heating)
Water source
Public
Building Details
Year built
1964
Floors in Building
1
Building materials
Block
Roof type
Shingle, Asphalt
Listing Agency:
Metro, REALTORS L.L.P
(406) 245-9300
Listed By:
Brem Fellman · License #RRE-BRO-LIC-16797
(406) 860-2223
Added: Aug 14
Changed: Aug 19
Last Checked: Aug 21 at 6:06AM
MLS# 361269
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 1,584-square-foot flex space provides a practical shop and garage layout with a 14-foot ceiling, two 12-foot overhead doors, and a dedicated office. An air compressor, washer/dryer hookups, and a bathroom with shower support a range of work and storage functions. Block construction, natural gas and hot water heating, and a shingle and asphalt roof are among the building features.
The property occupies 0.118 acres at 580 Jackson Street in Billings, Montana. On-street parking is available, while public water and a septic tank serve the property. Built in 1964, the space is subject to property covenants that prohibit exterior signage.
The property occupies 0.118 acres at 580 Jackson Street in Billings, Montana. On-street parking is available, while public water and a septic tank serve the property. Built in 1964, the space is subject to property covenants that prohibit exterior signage.
Key Highlights
- 1,584 square feet of flex shop and garage space
- 14' ceiling height with two 12' overhead doors
- Dedicated office and bathroom with shower
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
Lease Details
14 ft
Clear height
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 - Workspace with office, bathroom, equipment access, and connections for laundry appliances.
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 shop and garage space; 14' ceiling height with two 12' overhead doors; Dedicated office and bathroom with shower
