Two-Unit Flex
For Sale
$369,000
948 W Toy Storage Street, Billings, MT 59106
Two shop units offer heated and air-conditioned space, 220V power, overhead doors, and bathroom plumbing provisions.
Property Size3,600 SF
Price / SF$102.50
Days on Market57
Property Features for 948 W Toy Storage Street
General Information
Standard status
Active
Size
3,600 SF
Property subtype
Office
Additional Details
Voltage
220 V
Taxes and HOA fees
Annual Taxes
$1,073
Building Details
Building Size
3,600 SF
Year Built
2020
Listing Agency:
U Bar S Real Estate
Listed By:
Carlos Davey · License #14186
(406) 652-1151
Source:
Careychapman
Added: Aug 25
Changed: Oct 17
Last Checked: Oct 19 at 2:26PM
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 U Bar S Real Estate
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
Built in 2020, this 3,600-square-foot flex property at Shop World comprises two shop units suited to commercial, storage, shop, or owner-user applications. Unit A includes central air conditioning and heat, plumbing in place for a bathroom, drive-through access, and 14-foot overhead doors. Unit B provides heated shop space, two 14-foot overhead doors, and bathroom plumbing provisions. Both units have 220V power.
The property is located on the West End of Billings at 948 W Toy Storage Street. The lot has approval for a septic system, supporting future improvement flexibility. Unit A is currently leased on a month-to-month basis.
The property is located on the West End of Billings at 948 W Toy Storage Street. The lot has approval for a septic system, supporting future improvement flexibility. Unit A is currently leased on a month-to-month basis.
Key Highlights
- 3,600‑square‑foot flex property with two shop units
- Constructed in 2020
- Unit A includes central air, heat, bathroom plumbing, and drive‑through access
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$28,108
Cap Rate
7.62%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$562,160
$562.2K
Cap Rate 7%
$401,543
$401.5K
Cap Rate 9%
$312,311
$312.3K
Market Conditions
NOI Build-Up for 3,600 SF
Gross rent
$47.5K $13.20/SF
− Vacancy
−$4.3K −$1.19/SF
EGI
$43.2K $12.01/SF
− OpEx
−$15.1K −$4.20/SF
NOI
$28.1K $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%
$562,160
Cap Rate 7%
$401,543
Cap Rate 9%
$312,311
Alternative Uses
Best Use
Flex RnD
$401.5K
$351.4K – $468.5K
NOI $28,108 @ 7.0% cap · market cap 7.62%
Second Best
Warehouse
$336.0K
$294.0K – $392.0K
NOI $23,519 @ 7.0% cap · market cap 6.37%
Theoretical Best
Office A
$785.5K
$687.3K – $916.4K
NOI $54,985 @ 7.0% cap · market cap 14.90%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property 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
Market
Vacancy Rate% for Industrial in West region
Frequently Asked Questions
What type of property is this?
Flex space - Two shop units offer heated and air-conditioned space, 220V power, overhead doors, and bathroom plumbing provisions.
Where is this flex space located?
The property is located at 948 W Toy Storage Street Billings, MT.
What is the asking price?
The asking price for this property is $369,000.
What are key features of this property?
This property features: 3,600‑square‑foot flex property with two shop units; Constructed in 2020; Unit A includes central air, heat, bathroom plumbing, and drive‑through access
