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    2929 3Rd Ave Billings, MT 59101

    Sponsored
    For Sale
    $5,189,000

    Class A Office Building, 63,062 SF

    Property size:
    63,062 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    393
    This exceptional Class A, five-story office building, located at 2929 3rd Ave N in Billings, Montana, presents a unique investment opportunity. Spanning 63,062 square feet on a sizable 42,000 square foot lot (approximately half a block), this property boasts a prime downtown location within both an Opportunity Zone and the downtown Tax Increment Financing (TIF) district. Built in 1978 and renovated in 2005, the building features a desirable three-lane drive-through, ideal for a variety of uses, including a bank, pharmacy, or restaurant. The first and second floors are currently vacant, offering significant potential for an owner-occupier. Floors three through five are occupied by a mix of government tenants, a law office, a property manager, and general office users, resulting in a 61% occupancy rate. The building's former tenant was Rocky Mountain Bank. Excellent exterior signage opportunities exist. Detailed financial information and rent roll are available upon execution of a Non-Disclosure Agreement. This property offers substantial upside potential for investors seeking a strong presence in the heart of Billings. The permitted zoning is CBD Central Business District. The asking price is $5,189,000.

    Property Features for 2929 3Rd Ave

    General Information

    Property type
    Office Properties & Spaces
    Square Feet
    63,062 SF
    Class
    A

    Building Details

    Year Built/Renovated
    1978/2005

    HighLights

    • Former Rocky Mountain Bank building, 63,062 SF, available for $5,189,000.
    • Five‑story, 63,062 square foot office building on a half‑block, 42,000 square foot lot in downtown Billings.
    • Features a three‑lane drive‑through, ideal for a bank, pharmacy, or restaurant.
    • First and second floors are vacant, perfect for owner‑occupancy.
    • Floors three through five are leased to government tenants, a law office, a property manager, and general office users.
    • Excellent exterior signage opportunities.
    Property Profile Location Intelligence

    Current Use by Public Records

    Federal Bureau of Investigation ... Federal Government Office Tamarack Property Management ... Property Management Company Bureau of Alcohol, Tobacco, ... Government Office Rocky Mountain Bank ... Bank Rocky Mountain Tribal ... Tribal Headquarters

    Suggested Use

    Restaurant Realty agency Building Supply Law Firm Spa & Massage Dental Office Wholesale Shop Auto Repair Shop Hair Salon Clothing Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Billings
    County
    Yellowstone
    State
    Montana
    Longitude
    -108.509807
    Latitude
    45.7830603

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    FAQs

    What type of property is this?
    Office Property / Space - Class A Office Building, 63,062 SF
    Where is this office property / space located?
    The property is located at 2929 3Rd Ave Billings, MT.
    What is the asking price?
    The asking price for this property is $5,189,000.
    What are key features of this property?
    This property features: Former Rocky Mountain Bank building, 63,062 SF, available for $5,189,000.; Five-story, 63,062 square foot office building on a half-block, 42,000 square foot lot in downtown Billings.; Features a three-lane drive-through, ideal for a bank, pharmacy, or restaurant.
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    2929 3Rd Ave Billings, MT 59101
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    Billings, MT 59101
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    Realmo Value Estimation

    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.

    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.

    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
    2929 3Rd Ave Billings, MT 59101
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