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Listing Agency: Coldwell Banker Commercial CBS Show Phone

Listed By: Nathan Matelich Show Phone

Source: Moodyscre

Added: Jul 24 Changed: Oct 6 Last Checked: Oct 15 at 2:11AM

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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 Coldwell Banker Commercial CBS

Investment Insights

Based on property information with market context.

This flex facility includes both office space and light industrial functionality, with paved and fenced exterior areas for day-to-day operations. Utilities noted include Lockwood water and sewer, and fiber internet is available. The property is zoned Light Industrial, supporting a range of light industrial and flex uses.

Located at 831 Cerise Rd in Billings, MT 59101, the site offers easy access to Interstate I-90, less than one mile away.

The seller is also willing to lease back a portion of the office space, which may help provide continuity for an immediate transition while the property is marketed for sale.

Key Highlights

• Zoned Light Industrial flex facility with paved and fenced property and a paved, fenced yard
• Fiber internet available
• Lockwood water and sewer service

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$171,241

Cap Rate

8.15%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$3,424,820 $3.4M

Cap Rate 7%

$2,446,300 $2.4M

Cap Rate 9%

$1,902,678 $1.9M

Is this asking price fair?

Market Conditions

NOI Build-Up for 21,932 SF

Gross rent

$289.5K $13.20/SF

− Vacancy

−$26.1K −$1.19/SF

EGI

$263.4K $12.01/SF

− OpEx

−$92.2K −$4.20/SF

NOI

$171.2K $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%

$3,424,820

Cap Rate 7%

$2,446,300

Cap Rate 9%

$1,902,678

Alternative Uses

Best Use

Office B

$3.43M

$3.01M – $4.01M (±1% cap)

NOI $240,419 @ 7.0% cap · market cap 11.45%

Second Best

Flex RnD

$2.45M

$2.14M – $2.85M (±1% cap)

NOI $171,241 @ 7.0% cap · market cap 8.15%

Theoretical Best

Office A

$4.79M

$4.19M – $5.58M (±1% cap)

NOI $334,981 @ 7.0% cap · market cap 15.95%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Hot Express Trucking Company Capra Group Construction Company

Suggested Use

Top Pick Real Estate Agency Electrical Service Garden Center Plumbing Service Grocery & Convenience Store (Bike/Boat/Book/etc) Store

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

Yes

Highway access

Yes

Utilities to site

Location Intelligence

Trade Area within ½ mile

154

Businesses Nearby

Well-served

Demand for This Use

Explore this area Business Placement

Demographics for 59101, MT

41,522

Population

18,864

Households

2.2

Avg Household Size

37

Median Age

22%

College-Educated

91%

High-School Grad

590.8 sq mi

ZIP Area

70

Density / Sq Mi

$58,165

Median Household Income

$36,258

Median Earnings

$930

Median Rent

$243,000

Median Home Value

Market

Vacancy Rate% for Office in West region

11% 2019

14.1% 2020

15.5% 2021

17.2% 2022

19.9% 2023

21% 2024

20.8% 2025

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Frequently Asked Questions

What type of property is this?

Flex space - Flex facility with paved, fenced yard and fiber internet, just under a mile to I-90.

Where is this flex space located?

The property is located at 831 Cerise Rd Billings, MT.

What is the asking price?

The asking price for this property is $2,100,000.

What are key features of this property?

This property features: Zoned Light Industrial flex facility with paved and fenced property and a paved, fenced yard; Fiber internet available; Lockwood water and sewer service