Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    1601 Lewis Ave Billings, MT 59102

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Lease
    Contact for pricing

    Prime Billings location, modern office suites.

    Lot size:
    36,348 SF

    Property Features for 1601 Lewis Ave

    General Information

    Property type
    Office properties & Spaces
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    36,348 SF
    Total Rate
    30290

    Building Details

    Year Built
    1982

    Spaces For Lease

    at 1601 Lewis Ave, Billings, MT 59102 Contact us
    Unit Suite 104

    $10 /Mo

    Size
    1,496 SF
    Contact us

    We can help!

    Listing Contact
    Haley Vannatta, Ccim
    Haley Vannatta, Ccim

    Listing Agent: Haley Vannatta, Ccim

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    This exceptional office building, located at 1601 Lewis Ave in Billings, Montana, offers a blend of traditional and executive office spaces. The property, situated on a 1.44-acre lot, comprises a total of 36,348 square feet, with 3,718 square feet currently vacant. Built in 1982, the building features one elevator and is zoned for neighborhood office use (NO). The property is conveniently located in Billings' midtown area, providing easy access to various amenities and businesses. The building offers ample parking, including reserved spaces for tenants and guests. Accessibility is ensured through ADA compliance. Shared restrooms and a single elevator serve the building's tenants. The property benefits from daily cleaning and regular maintenance, ensuring a clean and well-maintained environment. Currently, one available suite offers 1,496 square feet of space. The property's APN is A19576, and it's located in Yellowstone County, Montana, zip code 59102. This is a fantastic opportunity for businesses seeking a well-maintained, conveniently located office space in a thriving Montana city.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Dr. Elizabeth A Walter Physician Tenika Capouch Physician Susan Frew Counselor Rimel & Mrkich Law Firm High Plains Law, ... Law Firm

    Suggested Use

    Real Estate Agency Law Firm Restaurant Dental Office Spa & Massage Center Hair Salon Nail Salon Building Supply Gym & Fitness Center Auto Repair Shop

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

    Location Insight

    • Map
    • Local Demand
    City
    Billings
    County
    Yellowstone
    State
    Montana
    Longitude
    -108.5570615
    Latitude
    45.78085

    Nearby Similar for Lease

    • Sponsored
      Contact for pricing

      MT, Billings - N 29th St

      Discover many ways to work your way in One Liberty Place
      208 29Th St, Billings, MT 59101
      View Details
    • $16 SF/Yr
      6,474 SF

      Downtown Retail Space For Rent

      Retail space in downtown Billings, near hospital corridor.
      821 North 27Th St, Billings, MT 59101
      View Details
    • $1,750 /Mo
      3,460 SF

      Class A Office Space Available

      Class A office space for lease in Billings Heights.
      1668 Gleneagles Blvd, Billings, MT 59105
      View Details
    • $8 SF/Yr
      11,085 SF

      Downtown Billings Office Space

      Flexible office spaces in a high visibility downtown location.
      1413 4Th Ave N, Billings, MT 59101
      View Details
    • $12 SF/Yr
      41,503 SF

      Billings Office Space For Lease

      Office spaces for lease with modern amenities and customizable floorplans.
      13 N 23Rd St, 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 Ave, Billings, MT 59102
      View Details
    • $16 SF/Yr
      5,209 SF

      Prime Office Space For Rent

      Office space for rent with modern amenities and ample parking.
      2625 Saint Johns Ave, Billings, MT 59102
      View Details
    • $12 SF/Yr
      427 SF

      Billings Office Space For Rent

      Second-floor office suites with high visibility and convenient access.
      928 Broadwater Ave, Billings, MT 59101
      View Details
    • $12 SF/Yr
      1,456 SF

      Historic Office Space on Grand

      Charming office space with ample parking in prime location.
      629 Grand Ave, Billings, MT 59101
      View Details
    • $8 SF/Yr
      1,200 SF

      Shop Space For Lease

      1,200 SF shop space available for lease.
      1270 Lockwood Rd, Billings, MT 59101
      View Details
    • $14 SF/Yr
      1,740 SF

      Office Building with Private Offices

      1,740 SF office building featuring private offices and conference rooms.
      801 Grand Ave, Billings, MT 59102
      View Details
    • $14 SF/Yr
      3,500 SF

      Office Space with Overhead Door

      3,500 SF office space featuring an overhead door.
      2593-2595 Overland Ave, Billings, MT 59102
      View Details

    FAQs

    What type of property is this?
    Office property - Prime Billings location, modern office suites.
    Where is this office property located?
    The property is located at 1601 Lewis Ave Billings, MT.
    What is the lease rate?
    The lease rate is $10 SF/Yr.
    What are key features of this property?
    This property features: Prime location with easy access.; Building features elevator service.; Professional on-site management provided.
    (406) 294-6317 Call to check price and availability
    Request Owner's contact information
    1601 Lewis Ave Billings, MT 59102
    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.
    1601 Lewis Ave
    Billings, MT 59102
    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
    1601 Lewis Ave Billings, MT 59102
    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

    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Haley Vannatta, Ccim
    Haley Vannatta, Ccim
    Real Estate License ID: #62446
    (406) 294-6317 (406) 672-1443 (406) 256-5000
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!