Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    1515 Grand Ave Billings, MT 59102

    • Retail properties
    • 77,600 SF
    • 7.90 lot acres
    For Lease
    View listing
    $1,400,000
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US52-0076489
    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.

    Current Use by Public Records

    • Sears Appliance Repair / Furnace Repair Service / Refrigerator Repair Service
    • Self-Storage at U-Haul / Storage Facility / Self-Storage Facility
    • Trailer Hitches at U-Haul / Trailer Supply Store / Truck Accessories Store
    • U-Haul Moving & Storage of West Park / Moving And Storage Service / Self-Storage Facility
    • Collegeboxes at U-Haul Moving & Storage Of West Park / Moving And Storage Service / Shipping Service

    Property Details for 1515 Grand Ave

    Year built
    1961
    Construction
    WOOD
    Lot size
    7.90 lot acres
    Property size
    77,600 SF
    Property type
    Retail properties
    APN
    03-1032-36-4-01-20-0000
    APU
    3103236401200000

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Billings
    County
    Yellowstone
    State
    Montana
    Longitude
    -108.555
    Latitude
    45.7854
    CBSA code
    13740
    CBSA name
    BILLINGS, MT METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $55,469
    $0.00
    $0.00
    $4,439,600
    -
    $1,147,158
    $3,292,442
    $4,439,600

    Comparable in this City

    • Value Estimation by Request
      7,492 SF

      1108 Broadwater Ave

      Retail properties • 7,492 SF
      1108 Broadwater Ave, Billings, MT 59102
      View Details
    • Value Estimation by Request

      3135 Mdw Vw Dr

      Retail properties
      3135 Mdw Vw Dr, Billings, MT 59102
      View Details
    • Value Estimation by Request
      2,798 SF

      1110 Broadwater Ave

      Land • 2,798 SF
      1110 Broadwater Ave, Billings, MT 59102
      View Details
    • Value Estimation by Request
      5.17 Acres

      2618 King Ave

      Individual retail properties • 5.17 Acres
      2618 King Ave, Billings, MT 59102
      View Details
    • Value Estimation by Request
      66,892 SF

      1313 Broadwater Ave

      DEPARTMENT STORE • 66,892 SF
      1313 Broadwater Ave, Billings, MT 59102-5321
      View Details
    • Value Estimation by Request
      12,732 SF

      2338 Grand Ave

      Lifestyle centers • 12,732 SF
      2338 Grand Ave, Billings, MT 59102
      View Details

    Similar Nearby for Sale

    • $2,800,000
      7,462 SF

      Grand Ave Casino & Restaurant

      Billings, MT Mixed-Use Investment Opportunity
      1223 Grand Ave, Billings, MT 59102
      View Details
    • $750,000
      2,749 SF

      Grand Ave Retail Pad - Billings, MT

      High-traffic retail pad, billboard lease included.
      1503 Grand Ave, Billings, MT 59102
      View Details
    • $12,184,080
      5.17 Acres

      Billings, MT Retail Investment

      Multi-tenant retail center, strong NOI.
      2618 King Ave, Billings, MT 59102
      View Details
    • $1,400,000
      7,492 SF

      Billings Retail Center: Prime Investment

      Class A Retail, 7,492 SF, 7.5% Cap Rate
      1108 Broadwater Ave, Billings, MT 59102
      View Details
    • $475,000
      0.21 Acres

      Central Avenue Retail Investment

      Billings Retail Property: Income & Potential
      1515 Central Ave, Billings, MT 59102
      View Details
    • $90,000
      3,800 SF

      Billings Consignment Store Sale

      Established Consignment Store, High Returns
      0 Reputable Consignment Store With Loyal Customer Base, Billings, MT 59102
      View Details

    Similar Nearby for Lease

    • $40 SF/Yr
      11,400 SF

      Shiloh Crossing Retail Space

      Billings, MT retail space available.
      1312 Shiloh Crossing Blvd, Billings, MT 59102
      View Details
    • $14 SF/Yr
      6,500 SF

      Billings Industrial Trio

      Three modern warehouses, 6,500 SF total.
      1142 29Th St, Billings, MT 59102
      View Details
    • $18 SF/Yr
      4,078 SF

      Billings Retail Space for Lease

      Prime Billings location, 4,078 sq ft.
      1400 24Th St, Billings, MT 59102
      View Details
    • $54,000
      5,000 SF

      Retail Pad Location Near WinCo

      Prime retail pad location adjacent to WinCo with high traffic.
      2424 Central Ave, Billings, MT 59102
      View Details
    • $11 SF/Yr
      2,850 SF

      Salon Space Ready For Lease

      2,850 SF salon space available for immediate use.
      1116 Grand Ave, Billings, MT 59102
      View Details
    • Contact for pricing
      5,267 SF

      Prime Retail/Restaurant Location

      High-visibility, high-traffic area suitable for retail or restaurant development.
      2675 King Ave W, Billings, MT 59102
      View Details

    Property Visit Statistics

    • Visits by month
      6.7k
    • Visitors by month
      3.2k
    • Avg Time on site
      25 min
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    1515 Grand Ave
    Billings, MT 59102
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.