Current Use by Public Records
- fi.d.o / Shopping Center & Mall / (Bike/Boat/Book/etc) Store
- Sierra / Clothing & Fashion Store
- HomeGoods / Department Store
- Petco Dog Training / Animal Training
- Petco Grooming / Pet Grooming Service
Property Details for 2618 King Ave
- Year built
- 1995
- Lot size
- 5.17 lot acres
- Property type
- Retail properties & Spaces
- Property subtype
- Retail space
Description
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.
Value Estimations
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Location Insight
- Map
- Local Demand
- City
- Billings
- County
- Yellowstone
- State
- Montana
- Longitude
- -108.581
- Latitude
- 45.7543
