56Th St Billings, MT 59106
- Mixed-use properties
- 2,436 SF
Current Use by Public Records
- Mixed-use properties
Property Details for 0 56Th St
- Year built
- 2012
- Property size
- 2,436 SF
- Property type
- Mixed-use properties
Description
This Billings, Montana mixed-use property offers a compelling investment opportunity. Priced at $325,000, this 2,436 square foot shop boasts a 5.54% cap rate and a strong $18,000 annual net operating income (NOI). Currently 100% occupied with a lease commencing April 1, 2024, and expiring October 1, 2024, featuring a 6% annual rent bump. The building, constructed in 2012, includes two units, two stories, and two parking spaces. The shop space itself features approximately 1800 square feet, a separate office, bath, and reception area, 20-foot side walls, and a 16-foot overhead door. Radiant floor heating provides efficient climate control. The property is located at 3701 56th Street West, Unit 6, Billings, MT 59106, in Yellowstone County. The property is unzoned. This is a single-tenant, modified lease arrangement. The property is for sale by owner. Consider purchasing this property in conjunction with the adjacent 3800 square foot unit (available separately) for a larger investment portfolio.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Billings
- County
- Yellowstone
- State
- Montana
- Longitude
- -108.659
- Latitude
- 45.7451
