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    2618 King Ave Billings, MT 59102

    Sponsored
    For Sale
    $12,184,080

    Multi-tenant retail center, strong NOI.

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    This exceptional retail investment opportunity presents a 66,085 square foot, single-story, multi-tenant storefront property located at 2618 King Ave W in Billings, Montana. The property, built in 1995 and renovated in 2023, boasts a 7.45% cap rate and a strong net operating income (NOI) of $907,713. The asking price is $12,184,080. The property features four tenants, including Petco, HomeGoods, and Sierra, all backed by corporate guarantees, ensuring a stable income stream under a triple-net (NNN) lease structure. Situated on a 5.17-acre lot with C zoning, the center benefits from high visibility, averaging over 31,000 cars per day. Its prime location between Walmart, Home Depot, and Costco provides significant traffic draw and enhances long-term stability. Billings, Montana, a growing city with a 2022 population estimate of 119,702, offers a robust market for retail businesses. This value-add opportunity allows for potential cash flow increases due to zero vacancy. The property's strong tenant mix caters to a wide range of consumer needs, making it an attractive investment for discerning buyers. The property is currently fully occupied.

    Property Features for 2618 King Ave

    General Information

    Property type
    Individual retail properties
    Class
    B
    Lot Size
    225,205 SF

    Building Details

    Year Built/Renovated
    1995/2023
    Buildings
    1
    Stories
    1

    HighLights

    • 66,085 SF, single‑story, multi‑tenant retail building in Billings, MT.
    • 100% occupied with strong national credit tenants (Petco, HomeGoods, Sierra) under NNN leases, providing a stable income stream.
    • 7.45% cap rate and $907,713 NOI; asking price $12,184,080.
    • High‑visibility location with over 31,000 cars per day, shadow‑anchored by Walmart, Home Depot, and Costco.
    • Value‑add opportunity with potential for increased cash flow due to zero vacancy.
    Property Profile Location Intelligence

    Current Use by Public Records

    fi.d.o Kiosk Sierra Children'S Clothing Store HomeGoods Department Store Petco Dog Training Dog Trainer Petco Grooming Pet Groomer

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Billings
    County
    Yellowstone
    State
    Montana
    Longitude
    -108.58088429499
    Latitude
    45.754336644732

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    FAQs

    What type of property is this?
    Individual retail property - Multi-tenant retail center, strong NOI.
    Where is this individual retail property located?
    The property is located at 2618 King Ave Billings, MT.
    What is the asking price?
    The asking price for this property is $12,184,080.
    What are key features of this property?
    This property features: 66,085 SF, single-story, multi-tenant retail building in Billings, MT.; 100% occupied with strong national credit tenants (Petco, HomeGoods, Sierra) under NNN leases, providing a stable income stream.; 7.45% cap rate and $907,713 NOI; asking price $12,184,080.
    Request Owner's contact information
    2618 King Ave Billings, MT 59102
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    Billings, MT 59102
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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
    2618 King Ave Billings, MT 59102
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