Versatile Warehouse with Expansion
For Sale
$535,000
8322 N Workshop Ave, Billings, MT 59106
3,408 SF warehouse with high ceilings, ample parking, storage lot.
Property Size3,408 SF
Lot Size0.66 Acres
Price / SF$156.98
Days on Market214
Property Features for 8322 N Workshop Ave
General Information
Standard status
Active
Size
3,408 SF
Lot size
0.66 Acres
Property subtype
Industrial
Building Details
Year Built
2020
Listing Agency:
NAI Business Properties
Listed By:
Brian McDonald · License #RRE-BRO-LIC-12627
(406) 860-1567
Source:
Naiglobal
Added: Mar 6
Changed: Jul 6
Last Checked: Oct 5 at 5:46PM
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 NAI Business Properties
Investment Insights
Based on property information with market context.
This 3,408 SF flex space building offers a versatile layout suitable for various business needs. The property includes two lots totaling 28,619 SF. The warehouse features 16 ft ceilings, providing convenient access for loading and unloading. Ample parking is available, along with a large storage lot. Located in the thriving Billings area, the property has the potential for additional expansion and future growth. It is located near King Avenue West and 80th Street West.
Key Highlights
- Located in the thriving Billings area.
- 3,408 SF flex space building suitable for various business needs.
- High 16 ft ceilings for versatile usage.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$26,609
Cap Rate
4.97%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$532,180
$532.2K
Cap Rate 7%
$380,129
$380.1K
Cap Rate 9%
$295,656
$295.7K
Market Conditions
NOI Build-Up for 3,408 SF
Gross rent
$45.0K $13.20/SF
− Vacancy
−$4.0K −$1.19/SF
EGI
$40.9K $12.01/SF
− OpEx
−$14.3K −$4.20/SF
NOI
$26.6K $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%
$532,180
Cap Rate 7%
$380,129
Cap Rate 9%
$295,656
Alternative Uses
Best Use
Flex RnD
$380.1K
$332.6K – $443.5K
NOI $26,609 @ 7.0% cap · market cap 4.97%
Second Best
Warehouse
$318.1K
$278.3K – $371.1K
NOI $22,265 @ 7.0% cap · market cap 4.16%
Theoretical Best
Office A
$743.6K
$650.7K – $867.5K
NOI $52,052 @ 7.0% cap · market cap 9.73%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
2
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
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
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Frequently Asked Questions
What type of property is this?
Flex space - 3,408 SF warehouse with high ceilings, ample parking, storage lot.
Where is this flex space located?
The property is located at 8322 N Workshop Ave Billings, MT.
What is the asking price?
The asking price for this property is $535,000.
What are key features of this property?
This property features: Located in the thriving Billings area.; 3,408 SF flex space building suitable for various business needs.; High 16 ft ceilings for versatile usage.
