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Property profile & analytics
OFF-MARKET
Office buildings
111 31st St, Billings, MT 59101-2013
Entity Owned
1-yr Hold
~
Est. High Equity
Property ID
US52-0187847
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1947
Construction
WOOD
Total area
20,922 SF
Lot
0.48 ac (20,996 SF)
Zoning code
CBD
APN
03-0927-03-2-26-06-0000
UPID
US52-0187847
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Office of public assistance Government Office
-
Public Assistance Social Service Agency Charitable Organization
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
by Request
Owner & transaction history
Mlc Ranch LLC · 1 yrs held
Mlc Ranch LLC
since 2024
7 recorded transactions
Zoning & alternative use
CBD · Billings, MT
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Billings submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Billings submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
CAP Approach
Comparable Approach
Alternative Use
Get a detailed, property-specific estimation — fast and free
Price per SF
Sale + rent benchmarks
Subject property
—
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2024Property tax & assessments
Tax year 2024
Tax billed
$17,400
Tax year 2024
Assessed value
$1,357,100
Assessed 2024
Previous assessed
$1,357,100
+0.0% YoY
Effective rate
1.28%
On assessed value
Land market value
$188,243
Improvement market value
$1,168,857
Total market value
$1,357,100
Applied tax rate
9,653.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Office buildings
Use group
OFFICE BUILDING
Status
Off-Market
Year built
1947
Construction
WOOD
Heating
SPACE
Cooling
CENTRAL
Stories
1
Total area
20,922 SF
Lot
0.48 ac (20,996 SF)
Zoning code
CBD
APN
03-0927-03-2-26-06-0000
UPID
US52-0187847
Jurisdiction
YELLOWSTONE
Zoning & alternative use
CBD · Billings, MT
Zoning CBD · permitted uses
CBD · Billings, MT
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Billings. Always verify with local authorities before improvements.
Building & site characteristics
From public records
Year built
1947
Construction
WOOD
Heating
SPACE
Cooling
Yes
Stories
1
Lot
0.48 ac
Current owner
From public records · entity-resolved
Mlc Ranch LLC
Entity
Mailing address
110 BLUE GRANITE LN SAN LUIS OBISPO
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2024
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
9 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Sep 10, 2024
—
Mlc Ranch LLC
Yellowstone County
Redemption Deed
related
—
Jul 14, 2020
—
Oval Energy LLC
Ram Energy LLC
Quit Claim Deed
related
—
Jun 22, 2017
—
Oval Energy LLC
—
Deed
related
—
Jan 23, 2017
—
Ram Energy LLC
—
Deed
related
$1,639,128 · Glacier Bk Fsb
Sep 15, 2016
—
Ram Energy LLC
—
Deed
related
$1,611,930 · Western Sec Bk
Aug 4, 2015
—
Ram Energy LLC
The Bair Ranch Foundation
Warranty Deed
$724,705 · Western Security Bank
—
—
Ram Energy LLC
—
Deed Of Trust
related
$1,611,930 · Western Sec Bk
—
—
Ram Energy LLC
—
Loan Modification
related
$1,639,128 · Glacier Bk Fsb
—
—
Oval Energy LLC
—
Loan Modification
related
—
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
Try Rey
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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