Historic Office Building in
820 Division Street, Billings, MT 59101
Historic 1916 office building with modernized mechanical systems.
Type:Special Purpose
Property size:
5,688 SFPrice / SF:
$167/SF- Added:
- Feb 10, 2024
- Days on Market:
- 832
- Last Refresh:
- Mar 17 at 1:25 pm
Property Features for 820 Division Street
General Information
- Standard status
- Active
- Size
- 5,688 SF
- Property subtype
- Special Purpose
Listing agent Gregory Judson License #MT
Listing office CENTURY 21 Hometown Brokers Billings
Listing date Feb 10, 2024
Source Crexi
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 CENTURY 21 Hometown Brokers Billings
HighLights
- Historic 1916 Snidow Home: A rare opportunity to own a piece of Billings history and heritage.
- Zoned for Professional Offices: Converted and rezoned, ready for immediate use as professional offices.
- Opulent Period Finishes: Breathtaking original ornamentation, marble, and finely finished walnut throughout.
- Modernized Mechanical Systems: Updated mechanical systems ensure modern functionality and reliability.
- Multiple Offices and Meeting Spaces: Features 4 offices upstairs, a large main floor office, library/study, and 2 basement offices/meeting rooms.
- Includes a heated carriage house and a rear parking lot for convenience.
Overview
This historic property, known as the Snidow Home, presents a rare opportunity to own a piece of Billings heritage. Originally built in 1916, the property has been converted and rezoned into professional offices while retaining its opulent period finishes and styles. The interior features finely finished walnut, marble, and original ornamentation throughout. Natural light fills the space from two sunrooms, accentuating the rich woodwork. The upper level includes four offices, a small family room, and two bathrooms. The main level, which is ADA accessible, features a large office and a library/study that could serve as another office. The basement contains two offices or meeting rooms, plus storage space. A heated carriage house is located adjacent to the rear parking lot. The property has a total size of 5688 square feet.
Financial Insights
Value Estimation Calculated for Office B
Conservative
$692.8K
NOI $62,352 @ 9.00% cap · cautious / downside scenario
Moderate
$890.7K
NOI $62,352 @ 7.00% cap · market / base-case scenario
Aggressive
$1.25M
NOI $62,352 @ 5.00% cap · optimistic / upside scenario
NOI & Cap Rate Calculator
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
Calculated for Office B
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $99.0k | $17.40 |
| − Vacancy | −$15.8k | −$2.78 |
| EGI | $83.1k | $14.62 |
| − OpEx | −$20.8k | −$3.65 |
| NOI | $62.4k | $10.96 |
5,688 SF · lease $17.40/SF/yr · vacancy 16.00% · expense 25.00%
Alternative Use Scenarios
Best Use
Office B
$890.7K
$779.4K – $1.04M
NOI $62,352 @ 7.0% cap · market cap 6.56%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.24M
$1.09M – $1.45M
NOI $86,876 @ 7.0% cap · market cap 9.14%
Zoning and permitted uses should be independently verified with local authorities.
Property Profile
Insight Report
Location Intelligence
Current Use by Public Records
Stiles Troy R ...
Physician
Big Sky Psychiatric ...
Physician
Community Park
Park
Assessments In Child Custody
Law Firm
Meadowbrook Counseling
Family Counselor
Location Insight
- Map
- Local Demand
- City
- Billings
- County
- Yellowstone
- State
- Montana
- Longitude
- -108.5156231
- Latitude
- 45.7788943
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FAQs
What type of property is this?
Office building - Historic 1916 office building with modernized mechanical systems.
Where is this office building located?
The property is located at 820 Division Street Billings, MT.
What is the asking price?
The asking price for this property is $950,000.
What are key features of this property?
This property features: Historic 1916 Snidow Home: A rare opportunity to own a piece of Billings history and heritage.; Zoned for Professional Offices: Converted and rezoned, ready for immediate use as professional offices.; Opulent Period Finishes: Breathtaking original ornamentation, marble, and finely finished walnut throughout.
