Flex Space with Overhead
For Sale
$432,000
6871 King Ave West #F, Billings, MT 59102
Office and warehouse configuration with a fenced storage yard, radiant heat, and an ADA bathroom.
Property Size3,600 SF
Price / SF$120
Days on Market209
Property Features for 6871 King Ave West #F
General Information
Standard status
Active
Size
3,600 SF
Property subtype
Industrial
Site & Location
Fenced Yard
Yes
Outdoor Storage
Yes
Additional Details
Clear Height
16 ft
Building Details
Building Size
3,600 SF
Year Built
2007
Properties For Sale
at 6871 King Ave West #F Contact us- Size
- 3,600 SF
- Lease Type
- NNN
6871 King Ave West #F
Listing Agency:
NAI Business Properties
Listed By:
Brian McDonald · License #RRE-BRO-LIC-12627
(406) 256-5000
Source:
Thebrokerlist
Added: Feb 18
Changed: Sep 10
Last Checked: Sep 14 at 5:06AM
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 3,600-square-foot flex property combines office and warehouse space with a small office area and ADA bathroom. The building offers 16-foot sidewall height, three 14-foot overhead doors, and radiant heat for functional day-to-day operations. A fenced storage yard extends the usable area beyond the building.
Built in 2007, the property includes ample parking for tenants and customers. Its Billings location provides access to major transportation routes, supporting commercial operations that require convenient vehicle movement and on-site storage.
Built in 2007, the property includes ample parking for tenants and customers. Its Billings location provides access to major transportation routes, supporting commercial operations that require convenient vehicle movement and on-site storage.
Key Highlights
- 3,600 SF office/warehouse building
- 16 Ft sidewall height
- Three 14 Ft 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
$28,108
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
6.51%
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%
$562,160
$562.2K
Cap Rate 7%
$401,543
$401.5K
Cap Rate 9%
$312,311
$312.3K
Market Conditions
NOI Build-Up for 3,600 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
$47.5K $13.20/SF
− Vacancy
−$4.3K −$1.19/SF
EGI
$43.2K $12.01/SF
− OpEx
−$15.1K −$4.20/SF
NOI
$28.1K $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%
$562,160
Cap Rate 7%
$401,543
Cap Rate 9%
$312,311
Alternative Uses
Best Use
Flex RnD
$401.5K
$351.4K – $468.5K
NOI $28,108 @ 7.0% cap · market cap 6.51%
Second Best
Warehouse
$336.0K
$294.0K – $392.0K
NOI $23,519 @ 7.0% cap · market cap 5.44%
Theoretical Best
Office A
$785.5K
$687.3K – $916.4K
NOI $54,985 @ 7.0% cap · market cap 12.73%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
16 ft
Clear height
Yes
Fenced yard
Location Intelligence
Trade Area within ½ mile
62
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 59102, MT
48,133
Population
22,706
Households
2.1
Avg Household Size
41
Median Age
43%
College-Educated
97%
High-School Grad
15.0 sq mi
ZIP Area
3,209
Density / Sq Mi
$75,140
Median Household Income
$43,203
Median Earnings
$1,148
Median Rent
$307,400
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Industrial in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Office and warehouse configuration with a fenced storage yard, radiant heat, and an ADA bathroom.
Where is this flex space located?
The property is located at 6871 King Ave West #F Billings, MT.
What is the asking price?
The asking price for this property is $432,000.
What are key features of this property?
This property features: 3,600 SF office/warehouse building; 16 Ft sidewall height; Three 14 Ft overhead doors
