Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Downtown Retail Space For Rent Title is generated by Realmo AI

    821 North 27th Street, Billings, MT 59101

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Lease
    $16 SF/Yr $8,632/Mo (calc)

    Retail space in downtown Billings, near hospital corridor.

    Type:Retail
    Property size:
    6,474 SF
    Added:
    Jan 27, 2026
    Days on Market:
    115
    Last Refresh:
    Dec 3 at 5:45 am

    Property Features for 821 North 27th Street

    General Information

    Standard status
    Active
    Size
    6,474 SF
    Property subtype
    Retail

    Building Details

    Year Built
    1984

    Spaces For Lease

    at 821 North 27th Street Contact us

    We can help!

    Listing Contact
    CAROL SANTOS
    CAROL SANTOS

    Listing agent CAROL SANTOS License #01987573

    Listing office BRADLEY AND SANTOS REALTY

    Listing date Jan 27, 2026

    Source Naiglobal

    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 BRADLEY AND SANTOS REALTY

    HighLights

    • Prime downtown location in the hospital corridor, directly across from Billings Clinic and Dehler Park.
    • 4,975 SF of open retail space with a spacious and flexible floor plan.
    • Ample parking for both tenants and clients, including rear employee parking and multiple off‑street customer parking spaces.
    • High visibility with excellent signage opportunities.
    • Recently renovated interior and modern, attractive exterior.
    • Professional property management and ADA compliant facilities.

    Overview

    Located in downtown Billings, Montana, within the hospital corridor and directly across from Billings Clinic and Dehler Park, this multi-tenant office building offers 4,975 square feet of open retail space. The property features a modern and attractive exterior, a spacious and flexible floor plan, and a recently renovated interior. It provides rear employee parking, security, excellent signage, and multiple off-street customer parking spaces. The facilities are ADA compliant, and professional property management is in place. The lease is NNN at $5.59 per square foot.
    Property Profile Location Intelligence

    Current Use by Public Records

    Dope Strategies LLC Consultant The Mail Drop Courier Service Leading Edge Accounting Accounting Firm I Am Tech ... Business Management Consultant Western Union Bank

    Suggested Use

    Restaurant Real Estate Agency Building Supply Spa & Massage Center Dental Office Law Firm Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Billings
    County
    Yellowstone
    State
    Montana
    Longitude
    -108.51
    Latitude
    45.7891

    Nearby Similar for Lease

    • Sponsored
      Contact for pricing

      MT, Billings - N 29th St

      208 29Th St, Unit 201, Billings, MT 59101
      View Details
    • $13 SF/Yr
      5,400 SF

      Billings Heights Flex Space Available

      Flex space with retail, office, shop, and yard space.
      1117 Main Street, Billings, MT 59105
      View Details
    • $1,950/Mo
      2,375 SF

      Warehouse Condo with Office Space

      2,375 SF warehouse condo with office mezzanine for lease.
      706 Black Hawk St Unit E4, Billings, MT 59106
      View Details
    • $8 SF/Yr
      3,400 SF

      Midtown Flex Space with Office

      Conveniently located flex space with shop and office areas.
      524 Moore Ln, Billings, MT 59101
      View Details
    • $8 SF/Yr
      5,000 SF

      Downtown Billings Office Space Available

      Flexible office spaces in a high-visibility downtown location.
      1413 4th Ave N, BILLINGS, MT 59101
      View Details
    • $20 SF/Yr
      8,127 SF

      Downtown Billings Office Space Available

      8,127 SF office space in downtown Billings.
      2900 4th Avenue N, Billings, MT 59101
      View Details
    • $12 SF/Yr
      4,975 SF

      Downtown Retail Space For Rent

      4,975 SF retail space in downtown Billings, MT.
      821 North 27th Street, Billings, MT 59101
      View Details
    • $2,000/Mo
      3,250 SF

      Office/Warehouse Space with Fenced Storage

      3,250 SF office/warehouse with fenced storage, great location.
      6417 Trade Center Avenue Ste A, Billings, MT 59101
      View Details
    • $12 SF/Yr
      3,000 SF

      Versatile Space in Billings, MT

      3,000 SF space with 20' clear height and gated entry.
      6958 Commercial Ave, Unit 3, Billings, MT 59101
      View Details
    • $8,000/Mo
      12,000 SF

      Renovated Retail Space in Billings

      Renovated 12,000 SF retail building in prime Billings location.
      635 Wicks Lane, Billings, MT 59105
      View Details
    • $41 SF/Yr
      3,008 SF

      Freestanding Retail Building with Drive-Thru

      Former restaurant with drive-thru available for lease.
      4780 King Ave E, Billings, MT 59101
      View Details
    • $15 SF/Yr
      14,052 SF

      Ground Floor Office Suites Available

      Ground floor office suites available for lease in mid-town location.
      1211 Grand Avenue, Billings, MT 59102
      View Details

    FAQs

    What type of property is this?
    Retail space - Retail space in downtown Billings, near hospital corridor.
    Where is this retail space located?
    The property is located at 821 North 27th Street Billings, MT.
    What is the lease rate?
    The lease rate is $16 SF/Yr.
    What are key features of this property?
    This property features: Prime downtown location in the hospital corridor, directly across from Billings Clinic and Dehler Park.; 4,975 SF of open retail space with a spacious and flexible floor plan.; Ample parking for both tenants and clients, including rear employee parking and multiple off‑street customer parking spaces.
    (209) 785-7653
    We can help!
    Listing Contact
    CAROL SANTOS
    CAROL SANTOS
    Real Estate License ID: 01987573
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    821 North 27th Street, Billings, MT 59101
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!