Two-Unit Flex
For Sale
$369,000
948 W Toy Storage Street, Billings, MT 59106
Two shop spaces offer overhead-door access, 220V power, and plumbing connections for bathrooms.
Property Size3,600 SF
Price / SF$102.50
Days on Market67
Property Features for 948 W Toy Storage Street
General Information
Standard status
Active
Size
3,600 SF
Property subtype
Office
Site & Location
Neighborhood
West Shiloh
Warehouse & Industrial
Drive-In Doors
2
Voltage
220 V
Additional Details
Tenant in Place
Yes
Property Use
Shop
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:
Huskeygroup
Added: Aug 25
Changed: Oct 26
Last Checked: Oct 26 at 2:48PM
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.
This 3,600-square-foot flex property, built in 2020, contains two shop units. Unit A measures 24' x 50' and has central air conditioning and heat, plumbing in place for a bathroom, and drive-through access through 14-foot overhead doors. Unit B measures 48' x 50', is heated, and has two 14-foot overhead doors plus bathroom plumbing. Both units have 220V power.
Unit A is currently occupied on a month-to-month basis. The lot has approval for a septic system. The property is located at 948 W Toy Storage Street in Billings, Montana.
Unit A is currently occupied on a month-to-month basis. The lot has approval for a septic system. The property is located at 948 W Toy Storage Street in Billings, Montana.
Key Highlights
- 3,600 square feet across two shop units
- Unit A: 24' x 50', central air conditioning and heat, and drive‑through access
- Unit B: 48' x 50', heated, with two 14‑foot overhead doors
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
Lease Details
2
Drive-in doors
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 spaces offer overhead-door access, 220V power, and plumbing connections for bathrooms.
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 feet across two shop units; Unit A: 24' x 50', central air conditioning and heat, and drive‑through access; Unit B: 48' x 50', heated, with two 14‑foot overhead doors
