Multi-Tenant Warehouse
For Sale
$1,599,999
7605 N Leopard Ave, Billings, MT 59106
CommercialSale, Billings, MT
Property Size14,096 SF
Lot Size0.32 Acres
Price / SF$113.51
Days on Market117
Property Features for 7605 N Leopard Ave
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
General Commercial
Subdivision
80TH STREET ESTATES SUB 2ND FIL
Standard status
Active
APN
C16406
Size
14,096 SF
Lot size
0.32 Acres
Taxes and HOA fees
Tax Description
80TH STREET ESTATES SUB 2ND FIL (09), S12, T01 S, R24 E, BLOCK 1, Lot 10
Tax Annual Amount
2132
Legal Description
80TH STREET ESTATES SUB 2ND FIL (09), S12, T01 S, R24 E, BLOCK 1, Lot 10
Utilities
Sewer type
Public Sewer
Heating system
Natural Gas, Forced Air
Building Details
Year built
2023
Floors in Building
1
Listing Agency:
Century 21 Americana · Century 21 Real Estate
(406) 294-2121
Listed By:
Greg Judson · License #RRE-RBS-LIC-24238
(406) 294-2135
Added: Jun 17
Changed: Sep 13
Last Checked: Oct 11 at 5:06AM
MLS# 360055
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.
Investment Insights
Based on property information with market context.
This warehouse property contains 13 units totaling 14,096 square feet across two separately deeded parcels. The buildings were constructed in 2023 and offer multiple bay configurations, including 960-square-foot, 1,152-square-foot, and 1,440-square-foot units. Improvements include steel wall liners and ceilings, insulation, ceiling fans, gas forced-air heat, paved driveways and aprons, rear parking, and a shared community bathroom.
The property is located at 7605 N Leopard Ave in Billings, Montana, with public sewer service. A fenced and gated area is under construction. The two parcels may be acquired together or separately, providing flexibility for evaluating the property as a combined warehouse operation or as separate holdings.
The property is located at 7605 N Leopard Ave in Billings, Montana, with public sewer service. A fenced and gated area is under construction. The two parcels may be acquired together or separately, providing flexibility for evaluating the property as a combined warehouse operation or as separate holdings.
Key Highlights
- 13 warehouse units totaling 14,096 SF across two separately deeded parcels
- Unit sizes include 960 SF, 1,152 SF, and 1,440 SF
- 2023 construction with steel wall liners, insulated interiors, and ceiling fans
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$92,091
Cap Rate
5.76%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,841,820
$1.8M
Cap Rate 7%
$1,315,586
$1.3M
Cap Rate 9%
$1,023,233
$1.0M
Market Conditions
NOI Build-Up for 14,096 SF
Gross rent
$118.4K $8.40/SF
− Vacancy
−$10.1K −$0.71/SF
EGI
$108.3K $7.69/SF
− OpEx
−$16.3K −$1.15/SF
NOI
$92.1K $6.53/SF
Area
Billings, MT
Vacancy
8.50%
Lease Rate
$8.40 /SF/Yr
Expense Ratio
15.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,841,820
Cap Rate 7%
$1,315,586
Cap Rate 9%
$1,023,233
Alternative Uses
Best Use
Warehouse
$1.32M
$1.15M – $1.53M
NOI $92,091 @ 7.0% cap · market cap 5.76%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.08M
$2.69M – $3.59M
NOI $215,297 @ 7.0% cap · market cap 13.46%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
13
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
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Frequently Asked Questions
What type of property is this?
Warehouse - Thirteen-unit commercial facility with heated spaces, paved access, rear parking, and flexible bay configurations.
Where is this warehouse located?
The property is located at 7605 N Leopard Ave Billings, MT.
What is the asking price?
The asking price for this property is $1,599,999.
What are key features of this property?
This property features: 13 warehouse units totaling 14,096 SF across two separately deeded parcels; Unit sizes include 960 SF, 1,152 SF, and 1,440 SF; 2023 construction with steel wall liners, insulated interiors, and ceiling fans
