Multi-Tenant Warehouse
For Sale
$1,599,999
7605 North Leopard Ave, Billings, MT 59106
Thirteen units across two separately deeded parcels offer a range of warehouse and shop configurations.
Property Size14,096 SF
Price / SF$113.51
Days on Market138
Property Features for 7605 North Leopard Ave
General Information
Standard status
Active
Size
14,096 SF
Property subtype
Warehouse
Site & Location
Neighborhood
West Shiloh
Additional Details
Asking Price
$1,599,999
Property Use
Warehouse
Taxes and HOA fees
Annual Taxes
$2,132
Building Details
Building Size
14,096 SF
Year Built
2023
Tenancy
Multi
Listing Agency:
Century 21 Americana
Listed By:
Greg Judson · License #RRE-RBS-LIC-24238
(406) 294-2135
Source:
Huskeygroup
Added: Jun 16
Changed: Oct 27
Last Checked: Oct 31 at 7:34PM
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 Century 21 Americana
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
Built in 2023, this warehouse property comprises 13 units on two separately deeded parcels. The buildings feature insulated construction, steel wall and ceiling liners, gas forced-air heat, and ceiling fans. Paved driveways and aprons serve the units, with parking at the rear. A shared bathroom and a fenced, gated area are under construction.
The property is mostly occupied. The two parcels may be acquired together or individually.
The property is mostly occupied. The two parcels may be acquired together or individually.
Key Highlights
- 13 warehouse and shop units across two separately deeded parcels
- Built in 2023
- Mostly occupied
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.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Industrial in West region
Frequently Asked Questions
What type of property is this?
Warehouse - Thirteen units across two separately deeded parcels offer a range of warehouse and shop configurations.
Where is this warehouse located?
The property is located at 7605 North 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 and shop units across two separately deeded parcels; Built in 2023; Mostly occupied
