Two-Unit Flex
For Sale
$399,000
6936 All Terrain Avenue, Billings, MT 59106
CommercialSale, Billings, MT
Property Size2,688 SF
Lot Size0.18 Acres
Price / SF$122.24
Days on Market63
Property Features for 6936 All Terrain Avenue
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
Un-zoned
Subdivision
Shop World 406
Standard status
Active
APN
C18872
Size
3,264 SF
Lot size
0.18 Acres
Taxes and HOA fees
Tax Description
SHOP WORLD 406 SUBD (24), S07, T01 S, R25 E, Lot 48
Legal Description
SHOP WORLD 406 SUBD (24), S07, T01 S, R25 E, Lot 48
Utilities
Sewer type
Septic Tank
Heating system
Natural Gas, Forced Air
Cooling system
Ductless
Building Details
Year built
2024
Floors in Building
1
Building materials
MetalSiding
Roof type
Metal
Listing Agency:
Keller Williams Yellowstone Properties · Keller Williams Realty
(406) 655-0005
Listed By:
Pat Schindele · License #RRE-BRO-LIC-8806
(406) 591-2551
Added: Aug 19
Changed: Oct 19
Last Checked: Oct 20 at 9:06PM
MLS# 358484
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.
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Investment Insights
Based on property information with market context.
Built in 2024, this 3,264-square-foot flex building is divided into two units within a 48-by-56-foot structure. Each unit has a bathroom, kitchen area, gas heater, separate electrical panel and gas meter, and a 12-by-21-foot mezzanine with finished office space, carpeting, windows, and ductless mini-split cooling. The building has 16-foot walls and a metal exterior.
Each unit is equipped with a 14-by-14-foot insulated garage door with a jackshaft operator, plus a 10-by-10-foot header for a potential future door on the west side. Bollards are installed beside the garage doors. Both units are currently leased.
Each unit is equipped with a 14-by-14-foot insulated garage door with a jackshaft operator, plus a 10-by-10-foot header for a potential future door on the west side. Bollards are installed beside the garage doors. Both units are currently leased.
Key Highlights
- Two leased units in a 3,264‑square‑foot building
- Built in 2024; building measures 48' x 56' with 16' walls
- Each unit includes a 12' x 21' mezzanine with finished office space
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$25,485
Cap Rate
6.39%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$509,700
$509.7K
Cap Rate 7%
$364,071
$364.1K
Cap Rate 9%
$283,167
$283.2K
Market Conditions
NOI Build-Up for 3,264 SF
Gross rent
$43.1K $13.20/SF
− Vacancy
−$3.9K −$1.19/SF
EGI
$39.2K $12.01/SF
− OpEx
−$13.7K −$4.20/SF
NOI
$25.5K $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%
$509,700
Cap Rate 7%
$364,071
Cap Rate 9%
$283,167
Alternative Uses
Best Use
Flex RnD
$364.1K
$318.6K – $424.8K
NOI $25,485 @ 7.0% cap · market cap 6.39%
Second Best
Warehouse
$304.6K
$266.6K – $355.4K
NOI $21,324 @ 7.0% cap · market cap 5.34%
Theoretical Best
Office A
$712.2K
$623.2K – $830.9K
NOI $49,853 @ 7.0% cap · market cap 12.49%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Lease Details
2
Drive-in doors
Multi-tenant
Tenancy
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
56
Businesses Nearby
Well-served
Demand for This Use
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
Frequently Asked Questions
What type of property is this?
Flex space - Both spaces are leased and include private bathrooms, kitchen areas, and finished office space.
Where is this flex space located?
The property is located at 6936 All Terrain Avenue Billings, MT.
What is the asking price?
The asking price for this property is $399,000.
What are key features of this property?
This property features: Two leased units in a 3,264‑square‑foot building; Built in 2024; building measures 48' x 56' with 16' walls; Each unit includes a 12' x 21' mezzanine with finished office space
