1503 13th W St Billings, MT 59102-3229

Property Details for 1503 13th W St

Year built

1950

Construction

WOOD

Lot size

0.38 lot acres

Property size

1,408 SF

Zone code

CC

Property type

Office buildings

APN

03-1033-31-3-01-16-0000

APU

3103331301160000

Description

This exceptional investment opportunity presents a fully leased, multi-use property located at 1503 13th St W in Billings, Montana. The property, priced at $465,000, boasts a 6.84% cap rate and a Net Operating Income (NOI) of $31,800. The 1,848 square foot building is classified as Class B and features a main floor of 1,408 square feet and an additional 440 square feet of basement space. Situated on three lots totaling 27,936 square feet, this property offers significant potential for expansion or redevelopment. The building is currently 100% occupied with three units. Suites 1 and 2 are under lease until April 2026, while Suite 3 is on a month-to-month lease, currently in its third year. Tenants contribute to snow removal, utilities, and maintenance expenses, reducing the owner's operational costs. The owner is responsible for water, garbage, sewer, property taxes, and property insurance. The property's zoning is NMU-Neighborhood Mixed-Use, offering flexibility for various business ventures. Its convenient midtown location, across from the new ACE Hardware on 13th St W, ensures high visibility and accessibility. Built in 1950, this property offers a blend of established presence and future potential in a thriving Billings market. The property's APN is A05940. This is a gross lease property.