Mixed-Use Property with Apartment
For Sale
$329,900
715 Grand Avenue, Billings, MT 59101
CommercialSale, Billings, MT
Property Size2,302 SF
Lot Size0.12 Acres
Price / SF$143.31
Days on Market47
Property Features for 715 Grand Avenue
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
NMU - Neighborhood Mixed-Use
Subdivision
Billings Heights
Lot features
Alley
Standard status
Active
APN
A03018
Size
2,302 SF
Lot size
0.12 Acres
Taxes and HOA fees
Tax Description
Lot 7, Block 1, Billings Heights Subdivision
Tax Annual Amount
1853
Legal Description
Lot 7, Block 1, Billings Heights Subdivision
Utilities
Sewer type
Public Sewer
Heating system
Natural Gas, Forced Air
Water source
Public
Amenities
signage opportunities
Building Details
Year built
1946
Floors in Building
2
Roof type
Shingle, Asphalt
Listing Agency:
McNeese McNeese
(406) 248-8999
Listed By:
Sheri Hilario · License #RRE-BRO-LIC-136680
(406) 690-2885
Added: Sep 8
Changed: Oct 18
Last Checked: Oct 24 at 8:06PM
MLS# 361758
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.
This mixed-use property at 715 Grand Avenue contains 2,302 square feet on a 0.1195-acre parcel. The principal building includes office space, a bathroom, and a retail or showroom area on the main level, with a one-bedroom, one-bath apartment below. A second one-bedroom, one-bath residence is located in the rear building, and the property also includes a detached garage.
Built in 1946, the buildings have fresh exterior paint and use forced-air heating with natural gas service. Public water and public sewer serve the property. The Grand Avenue location provides exposure for commercial operations, with signage opportunities noted in the property information. Existing residential components and commercial areas create a combination of business and rental accommodations within one property.
Built in 1946, the buildings have fresh exterior paint and use forced-air heating with natural gas service. Public water and public sewer serve the property. The Grand Avenue location provides exposure for commercial operations, with signage opportunities noted in the property information. Existing residential components and commercial areas create a combination of business and rental accommodations within one property.
Key Highlights
- 2,302‑square‑foot mixed‑use property on a 0.1195‑acre parcel
- Main level includes office space, 1 bathroom, and retail/showroom area
- Lower‑level apartment has 1 bedroom and 1 bathroom
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 - Commercial layout combines office and showroom functions with residential accommodations.
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: 2,302‑square‑foot mixed‑use property on a 0.1195‑acre parcel; Main level includes office space, 1 bathroom, and retail/showroom area; Lower‑level apartment has 1 bedroom and 1 bathroom
