Mixed-Use Property with
For Sale
$329,900
715 Grand Avenue, Billings, MT 59101
Office, retail, showroom, and residential components are arranged across the main floor, lower level, and detached back house.
Property Size2,302 SF
Price / SF$143.31
Days on Market51
Property Features for 715 Grand Avenue
General Information
Standard status
Active
Size
2,302 SF
Site & Location
Neighborhood
Highlands
Additional Details
Floor
Main Floor
Building Details
Tenancy
Multi
Listing Agency:
McNeese McNeese
(406) 248-8999
Listed By:
Sheri Hilario · License #RRE-BRO-LIC-136680
(406) 690-2885
Source:
Patschindele
Added: Sep 11
Changed: Oct 26
Last Checked: Oct 30 at 2:13PM
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 McNeese McNeese
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Investment Insights
Based on property information with market context.
This mixed-use property combines commercial and residential components at 715 Grand Avenue. The main floor includes office space, a bathroom, and retail or showroom area. The lower level contains a one-bedroom, one-bath apartment, while a detached back house provides another one-bedroom, one-bath residence. A separate garage is also included, and the exterior of all buildings has been freshly painted.
The property offers high-traffic exposure along Grand Avenue with signage opportunities for the commercial space. Both residential units have long-term tenant histories, adding established occupancy to the office and retail configuration. The layout accommodates a range of owner-user and income-producing uses without combining the distinct commercial, residential, and accessory improvements into a single building.
The property offers high-traffic exposure along Grand Avenue with signage opportunities for the commercial space. Both residential units have long-term tenant histories, adding established occupancy to the office and retail configuration. The layout accommodates a range of owner-user and income-producing uses without combining the distinct commercial, residential, and accessory improvements into a single building.
Key Highlights
- Main floor includes office space, a bathroom, and retail or showroom area
- Two one‑bedroom, one‑bath residential units, including a lower‑level apartment and detached back house
- Both residential units have long‑term tenant histories
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$25,235
Cap Rate
7.65%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$504,700
$504.7K
Cap Rate 7%
$360,500
$360.5K
Cap Rate 9%
$280,389
$280.4K
Market Conditions
NOI Build-Up for 2,302 SF
Gross rent
$40.1K $17.40/SF
− Vacancy
−$6.4K −$2.78/SF
EGI
$33.6K $14.62/SF
− OpEx
−$8.4K −$3.65/SF
NOI
$25.2K $10.96/SF
Area
Billings, MT
Vacancy
16.00%
Lease Rate
$17.40 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$504,700
Cap Rate 7%
$360,500
Cap Rate 9%
$280,389
Alternative Uses
Best Use
Office B
$360.5K
$315.4K – $420.6K
NOI $25,235 @ 7.0% cap · market cap 7.65%
Second Best
Retail
$336.7K
$294.6K – $392.8K
NOI $23,567 @ 7.0% cap · market cap 7.14%
Theoretical Best
Office A
$502.3K
$439.5K – $586.0K
NOI $35,160 @ 7.0% cap · market cap 10.66%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
539
Businesses Nearby
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
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Market
Vacancy Rate% for Office in West region
Frequently Asked Questions
What type of property is this?
Mixed-use property - Office, retail, showroom, and residential components are arranged across the main floor, lower level, and detached back house.
Where is this mixed-use property located?
The property is located at 715 Grand Avenue Billings, MT.
What is the asking price?
The asking price for this property is $329,900.
What are key features of this property?
This property features: Main floor includes office space, a bathroom, and retail or showroom area; Two one‑bedroom, one‑bath residential units, including a lower‑level apartment and detached back house; Both residential units have long‑term tenant histories
