Building Details

Year Built 1940

Listed By: Andrew Miller Show Phone

Added: May 1 Changed: Jul 23

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Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$78,246

Cap Rate

3.94%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,564,920 $1.6M

Cap Rate 7%

$1,117,800 $1.1M

Cap Rate 9%

$869,400 $869.4K

Is this asking price fair?

Market Conditions

NOI Build-Up for 9,244 SF

Gross rent

$149.8K $16.20/SF

− Vacancy

−$7.5K −$0.81/SF

EGI

$142.3K $15.39/SF

− OpEx

−$64.0K −$6.93/SF

NOI

$78.2K $8.46/SF

Area

Billings, MT

Vacancy

5.00%

Lease Rate

$16.20 /SF/Yr

Expense Ratio

45.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,564,920

Cap Rate 7%

$1,117,800

Cap Rate 9%

$869,400

Alternative Uses

Best Use

Apartment 5plus

$1.12M

$978.1K – $1.30M (±1% cap)

NOI $78,246 @ 7.0% cap · market cap 3.94%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$2.02M

$1.76M – $2.35M (±1% cap)

NOI $141,189 @ 7.0% cap · market cap 7.11%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

DanWalt Gardens Botanical Garden

Suggested Use

Top Pick Real Estate Agency Restaurant Pharmacy Kitchen & Bath Showroom Gym & Fitness Center Electrical Service

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

77

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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Frequently Asked Questions

What type of property is this?

Wedding venue - Billings event venue on 3 acres with a botanical garden, pavilion and gazebo, plus three residential homes for income.

Where is this wedding venue located?

The property is located at 720 Washington St Billings, MT.

What is the asking price?

The asking price for this property is $1,985,000.