4-Unit Flex
New
For Sale
$1,125,000
6822 Cowgirl Way, Billings, MT 59106
Each suite pairs a private office with heated shop space and an overhead door.
Property Size10,800 SF
Lot Size1.48 Acres
Price / SF$104.17
Days on Market7
Property Features for 6822 Cowgirl Way
General Information
Standard status
Active
Size
10,800 SF
Lot size
1.48 Acres
Property subtype
Office
Site & Location
Outdoor Storage
Yes
Utilities to Site
Yes
Warehouse & Industrial
Clear Height
16 ft
Office Build-Out
784 SF
Drive-In Doors
4
Taxes and HOA fees
Annual Taxes
$9,753
Building Details
Building Size
10,800 SF
Year Built
2024
Buildings
1
Tenancy
Multi
Listing Agency:
Western Skies Real Estate
Listed By:
Mandie Day · License #RRE-RBS-LIC-14789
(406) 671-9715
Source:
Careychapman
Added: Oct 9
Changed: Oct 15
Last Checked: Oct 15 at 2:00AM
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 Western Skies Real Estate
Investment Insights
Based on property information with market context.
Completed in 2024, this 10,800-square-foot flex building is divided into four units. Units A and D measure 3,000 square feet each, while Units B and C are 2,400 square feet apiece. Every unit has a 14' x 14' office, a 14' x 14' overhead door, 16' ceilings, and a gas-fired overhead shop heater; office areas have electric heat. Two bathrooms are shared among the units.
The building sits on a 1.48-acre site with a gravel lot and additional outdoor area. Water is supplied by a community well, and the property uses septic. Tenants are responsible for gas, electricity, garbage, and internet service.
The building sits on a 1.48-acre site with a gravel lot and additional outdoor area. Water is supplied by a community well, and the property uses septic. Tenants are responsible for gas, electricity, garbage, and internet service.
Key Highlights
- Four units in a 10,800‑square‑foot building completed in 2024
- Units A and D are 3,000 square feet each; Units B and C are 2,400 square feet each
- Each unit has a 14' x 14' overhead door and a 14' x 14' private office
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$84,324
Cap Rate
7.50%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,686,480
$1.7M
Cap Rate 7%
$1,204,629
$1.2M
Cap Rate 9%
$936,933
$936.9K
Market Conditions
NOI Build-Up for 10,800 SF
Gross rent
$142.6K $13.20/SF
− Vacancy
−$12.8K −$1.19/SF
EGI
$129.7K $12.01/SF
− OpEx
−$45.4K −$4.20/SF
NOI
$84.3K $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 Rate 5%
$1,686,480
Cap Rate 7%
$1,204,629
Cap Rate 9%
$936,933
Alternative Uses
Best Use
Flex RnD
$1.20M
$1.05M – $1.41M
NOI $84,324 @ 7.0% cap · market cap 7.50%
Second Best
Warehouse
$1.01M
$882.0K – $1.18M
NOI $70,557 @ 7.0% cap · market cap 6.27%
Theoretical Best
Office A
$2.36M
$2.06M – $2.75M
NOI $164,955 @ 7.0% cap · market cap 14.66%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Lease Details
16 ft
Clear height
4
Drive-in doors
Multi-tenant
Tenancy
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
2
Businesses Nearby
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Industrial in West region
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Frequently Asked Questions
What type of property is this?
Flex space - Each suite pairs a private office with heated shop space and an overhead door.
Where is this flex space located?
The property is located at 6822 Cowgirl Way Billings, MT.
What is the asking price?
The asking price for this property is $1,125,000.
What are key features of this property?
This property features: Four units in a 10,800‑square‑foot building completed in 2024; Units A and D are 3,000 square feet each; Units B and C are 2,400 square feet each; Each unit has a 14' x 14' overhead door and a 14' x 14' private office
