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    116 29Th St Billings, MT 59101
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    Property profile & analytics

    116 29Th St, Billings, MT 59101

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    • Commercial real estate
    • 2,847 SF
    Off-Market
    Property ID
    US52-0041621
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Bauer Group Architects / Architect
    • This House of Books / (Bike/Boat/Book/etc) Store

    Property Details for 116 29Th St

    Property type
    Commercial real estate

    Description

    This exceptional 2,847-square-foot retail property, located at 116 N 29th St in Billings, Montana, presents a unique opportunity for businesses seeking high visibility and convenient access. Situated in the heart of downtown Billings, this single-tenant space boasts a recently completed remodel, offering a modern and versatile layout. The property includes multiple offices, conference rooms, and adaptable work areas, making it suitable for a variety of retail and office uses. Its central location provides excellent exposure to foot traffic and is in close proximity to other thriving small businesses and the popular farmer's market, ensuring high visibility and potential customer interaction. The 7,000-square-foot lot provides ample space for potential expansion or outdoor amenities. This property is ideally suited for both local and national businesses seeking a prominent presence in the vibrant downtown Billings area. The flexible interior allows for customization to meet the specific needs of the tenant, offering a blank canvas for creating a unique and functional workspace. Located in Yellowstone County, Montana, with a 59101 zip code, this property offers a blend of prime location and adaptable space, making it an attractive investment opportunity. The property's single-tenant occupancy simplifies management and provides a streamlined operational environment.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific estimation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Billings
    County
    Yellowstone
    State
    Montana
    Longitude
    -108.5076948
    Latitude
    45.7817475

    Comparable in this City

    • $18 SF/Yr
      1,750 SF

      Montana Ave Retail Space

      Downtown Billings Retail Opportunity
      2223 Montana Ave, Billings, MT 59101
      View Details
    • $16 SF/Yr
      6,474 SF

      Downtown Retail Space For Rent

      Retail space in downtown Billings, near hospital corridor.
      821 North 27Th St, Billings, MT 59101
      View Details
    • Contact for pricing

      Prime Commercial Space For Rent

      Commercial space with flexible layout, ample parking, and high visibility.
      2912 3Rd Ave North, Billings, MT 59101
      View Details
    • Contact for pricing
      1,297 SF

      Retail Space with Mezzanine

      Corner retail space featuring a mezzanine level and open floorplan.
      304 N 29Th St, Billings, MT 59101
      View Details
    • Contact for pricing
      1,600 SF

      Retail Space on Old Hardin

      Retail space available for lease, 1600 square feet.
      2750 Old Hardin Rd, Billings, MT 59101
      View Details
    • Contact for pricing

      Visible Office or Retail Space

      High-visibility space suitable for office or retail use.
      2030 4Th Ave N, Billings, MT 59101
      View Details

    Similar Nearby for Sale

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      Prime I-90 Frontage Land

      High-visibility commercial land for retail or light industrial development.
      6300 S Frontage Rd, Billings, MT 59101
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      Pending

      Billings Commercial Land Opportunity

      8-acre commercial property with high visibility and development potential.
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      Auto Sales/Retail Property For Sale

      2,812 SF property suitable for auto sales or retail.
      3520 1St Ave N, Billings, MT 59101
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      6,968 SF

      Retail Space with Open Layout

      Well-lit retail space featuring an open floor plan.
      203 N 14Th St, Billings, MT 59101
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    Similar Nearby for Lease

    • $18 SF/Yr
      1,750 SF

      Montana Ave Retail Space

      Downtown Billings Retail Opportunity
      2223 Montana Ave, Billings, MT 59101
      View Details
    • $16 SF/Yr
      6,474 SF

      Downtown Retail Space For Rent

      Retail space in downtown Billings, near hospital corridor.
      821 North 27Th St, Billings, MT 59101
      View Details
    • Contact for pricing

      Prime Commercial Space For Rent

      Commercial space with flexible layout, ample parking, and high visibility.
      2912 3Rd Ave North, Billings, MT 59101
      View Details
    • Contact for pricing
      1,297 SF

      Retail Space with Mezzanine

      Corner retail space featuring a mezzanine level and open floorplan.
      304 N 29Th St, Billings, MT 59101
      View Details
    • Contact for pricing
      1,600 SF

      Retail Space on Old Hardin

      Retail space available for lease, 1600 square feet.
      2750 Old Hardin Rd, Billings, MT 59101
      View Details
    • Contact for pricing

      Visible Office or Retail Space

      High-visibility space suitable for office or retail use.
      2030 4Th Ave N, Billings, MT 59101
      View Details
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    116 29Th St
    Billings, MT 59101
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    Realmo Value Estimations

    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.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    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.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    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
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