Building Details

Construction steel frame

Listing Agency: eXp Realty, LLC - Billings Show Phone

Listed By: Jana May · License #RRE-BRO-LIC-63128 Show Phone

Source: Mymontanahomestead

Added: Sep 26 Changed: Oct 5 Last Checked: Oct 5 at 6:16PM

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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 eXp Realty, LLC - Billings

Investment Insights

Based on property information with market context.

Engineered steel-frame flex buildings sit on concrete foundations with 5-inch, rebar-reinforced slabs. Each building is configured as eight 24-by-48-foot units, with individual spaces that can be joined to create larger areas. Each 1,152-square-foot unit has a 14-by-14-foot garage door with an electric opener, a steel entry door, a natural gas hanging heater, four LED ceiling lights and six 110V outlets. 30-amp or 50-amp plugs can be added. Ceilings have R-41 insulation, and white metal liners cover the interior walls.

The gated community has perimeter fencing, cameras at each gated entrance, paved roads and shared bathrooms. Multiple units are available. Structural insurance is included through the HOA.

Key Highlights

• 1,152‑square‑foot units measuring 24 by 48 feet
• Eight units per building; bays can be joined for larger spaces
• Each unit has a 14‑by‑14‑foot overhead door with electric opener

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$8,995

Cap Rate

7.96%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$179,900 $179.9K

Cap Rate 7%

$128,500 $128.5K

Cap Rate 9%

$99,944 $99.9K

Market Conditions

NOI Build-Up for 1,152 SF

Gross rent

$15.2K $13.20/SF

− Vacancy

−$1.4K −$1.19/SF

EGI

$13.8K $12.01/SF

− OpEx

−$4.8K −$4.20/SF

NOI

$9.0K $7.81/SF

Area

Billings, MT

Vacancy

9.00%

Lease Rate

$13.20 /SF/Yr

Expense Ratio

35.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$179,900

Cap Rate 7%

$128,500

Cap Rate 9%

$99,944

Alternative Uses

Best Use

Flex RnD

$128.5K

$112.4K – $149.9K (±1% cap)

NOI $8,995 @ 7.0% cap · market cap 7.96%

Second Best

Warehouse

$107.5K

$94.1K – $125.4K (±1% cap)

NOI $7,526 @ 7.0% cap · market cap 6.66%

Theoretical Best

Office A

$251.4K

$219.9K – $293.3K (±1% cap)

NOI $17,595 @ 7.0% cap · market cap 15.57%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

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Current Use

Flex space

Suggested Use

Top Pick Building Supply HVAC Service Electrical Service Auto Parts Store Storage Facility Pharmacy

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

Lease Details

Yes

Fenced yard

Location Intelligence

Trade Area within ½ mile

238

Businesses Nearby

Under-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

Market

Vacancy Rate% for Industrial in West region

3.7% 2019

4.3% 2020

2.6% 2021

2.5% 2022

4.8% 2023

6.9% 2024

7.9% 2025

Questions? Ask Rey

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What type of property is this? Where is this flex space located? What is the asking price? Find similar properties What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Flex space - Each bay is equipped with an electric overhead door, a natural gas heater, lighting, insulation and wall liners.

Where is this flex space located?

The property is located at 8103 Rosebud Drive Unit 24C 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: 1,152‑square‑foot units measuring 24 by 48 feet; Eight units per building; bays can be joined for larger spaces; Each unit has a 14‑by‑14‑foot overhead door with electric opener