Engineered Steel Self-Storage
For Sale
$113,000
8103 Rosebud Drive Unit 22A, Billings, MT 59106
CommercialSale, Billings, MT
Property Size1,152 SF
Price / SF$98.09
Days on Market142
Property Features for 8103 Rosebud Drive Unit 22A
General Information
Property type
Commercial Sale
Property subtype
Other
Property condition
Under Construction
Parking
2
Subdivision
Shop World Condos
Directions
King Avenue West to 80th Street. Right on 80th Street W, Left on Stillwater Drive, Complex will be on the Left.
Standard status
Active
APN
C07259Q
Size
1,152 SF
Taxes and HOA fees
Tax Description
SHOP WORLD CONDOS (24), S11, T01 S, R24 E, BUILDING 22, UNIT A, 0.510% COMMON AREA INTEREST, LOC @ BLK 1, LT 5A1 PIKE SUB AMD (24)
Legal Description
SHOP WORLD CONDOS (24), S11, T01 S, R24 E, BUILDING 22, UNIT A, 0.510% COMMON AREA INTEREST, LOC @ BLK 1, LT 5A1 PIKE SUB AMD (24)
Utilities
Heating system
Natural Gas
Amenities
Community Bathrooms
Gated community
Cameras on each Gated entrance
Paved roads
Building Details
Year built
2025
Floors in Building
1
Building materials
Steel
Roof type
Metal
Listing Agency:
eXp Realty, LLC - Billings
(406) 578-4399
Listed By:
Jana May · License #RRE-BRO-LIC-63128
(406) 633-1655
Added: Apr 17
Changed: Aug 19
Last Checked: Sep 5 at 7:06PM
MLS# 358791
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 under-construction self-storage property consists of engineered steel buildings on concrete foundations with 5-inch rebar-reinforced slabs. Building formats include 96' x 96' and 72' x 96', with each structure arranged into 8 units measuring 24' x 48'. Units may be combined into larger configurations, including 24' x 96', 48' x 48', 72' x 96', or a fully open 96' x 96' layout.
Each finished unit is planned with a 14' x 14' overhead garage door and electric opener, a steel entry door, a natural gas hanging heater, four LED ceiling lights, six 110V outlets, R-41 ceiling insulation, and white metal interior liners. Thirty-amp or 50-amp plugs can be added. The property also includes community bathrooms, paved roads, perimeter fencing, and cameras at each gated entrance. The buildings feature metal roofs and are scheduled for completion in 2025.
Each finished unit is planned with a 14' x 14' overhead garage door and electric opener, a steel entry door, a natural gas hanging heater, four LED ceiling lights, six 110V outlets, R-41 ceiling insulation, and white metal interior liners. Thirty-amp or 50-amp plugs can be added. The property also includes community bathrooms, paved roads, perimeter fencing, and cameras at each gated entrance. The buildings feature metal roofs and are scheduled for completion in 2025.
Key Highlights
- 8 units per building, each measuring 24' x 48'
- Flexible layouts can combine units into configurations up to 96' x 96'
- Each unit includes a 14' x 14' garage door with electric opener
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$9,449
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
8.36%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$188,980
$189.0K
Cap Rate 7%
$134,986
$135.0K
Cap Rate 9%
$104,989
$105.0K
Market Conditions
NOI Build-Up for 1,152 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$14.5K $12.60/SF
− Vacancy
−$1.0K −$0.88/SF
EGI
$13.5K $11.72/SF
− OpEx
−$4.0K −$3.52/SF
NOI
$9.4K $8.20/SF
Area
Billings, MT
Vacancy
7.00%
Lease Rate
$12.60 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$188,980
Cap Rate 7%
$134,986
Cap Rate 9%
$104,989
Alternative Uses
Best Use
Self Storage
$135.0K
$118.1K – $157.5K
NOI $9,449 @ 7.0% cap · market cap 8.36%
Second Best
Flex RnD
$128.5K
$112.4K – $149.9K
NOI $8,995 @ 7.0% cap · market cap 7.96%
Theoretical Best
Office A
$251.4K
$219.9K – $293.3K
NOI $17,595 @ 7.0% cap · market cap 15.57%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Fenced yard
Location Intelligence
Trade Area within ½ mile
21
Businesses Nearby
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
Market
Vacancy Rate% for Industrial in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Self storage facility - Under-construction storage units offer flexible configurations, individual garage access, natural gas heating, and secured community grounds.
Where is this self storage facility located?
The property is located at 8103 Rosebud Drive Unit 22A Billings, MT.
What is the asking price?
The asking price for this property is $113,000.
What are key features of this property?
This property features: 8 units per building, each measuring 24' x 48'; Flexible layouts can combine units into configurations up to 96' x 96'; Each unit includes a 14' x 14' garage door with electric opener
