New search
Property profile & analytics
FOR LEASE
Distribution centers
1535 Industrial Ave, Billings, MT 59101
Entity Owned
18-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US52-0943306
For Lease
$8 SF/Yr
1535 Industrial Ave, Billings, MT 59101
View Listing →
Property profile
Verified
Property type
Distribution centers
Use group
DISTRIBUTION WAREHOUSE
Year built
1971
Construction
STEEL FRAME
Total area
59,750 SF
Lot
5.39 ac (234,614 SF)
Zoning code
CI
APN
03-0927-08-2-19-02-0000
UPID
US52-0943306
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
-
Concordance Healthcare Solutions Distribution Center Logistics Company
-
Kreisers Inc. Production Facility
-
Tenet Building Supply Industrial Manufacturer
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
Martin Real Estate Holdings LLC · 18 yrs held
Martin Real Estate Holdings LLC
since 2008
7 recorded transactions
Zoning & alternative use
CI · 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 2023Property tax & assessments
Tax year 2023
Tax billed
$30,717
Tax year 2023
Assessed value
$2,458,500
Assessed 2023
Previous assessed
$2,458,500
+0.0% YoY
Effective rate
1.25%
On assessed value
Land market value
$1,574,455
Improvement market value
$884,045
Total market value
$2,458,500
Applied tax rate
965.0000
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
Distribution centers
Use group
DISTRIBUTION WAREHOUSE
Status
For Lease
Year built
1971
Construction
STEEL FRAME
Heating
YES
Cooling
CENTRAL
Stories
1
Total area
59,750 SF
Lot
5.39 ac (234,614 SF)
Zoning code
CI
APN
03-0927-08-2-19-02-0000
UPID
US52-0943306
Jurisdiction
YELLOWSTONE
Zoning & alternative use
CI · Billings, MT
Zoning CI · permitted uses
CI · 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
1971
Construction
STEEL FRAME
Heating
YES
Cooling
Yes
Stories
1
Lot
5.39 ac
Current owner
From public records · entity-resolved
Martin Real Estate Holdings LLC
Entity
Mailing address
706 DANIEL ST, BILLINGS, MT 59101-3231
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2008
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
17 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
May 15, 2023
—
Martin Real Estate Holdings LLC
—
Deed
related
$2,900,000 · Opportunity Bank Of Mt
Jul 30, 2018
—
Martin R & E Hldgs LLC
—
Deed
related
$1,627,307 · Wells Fargo Bk
Sep 30, 2016
—
Martin R & E Holdings LLC
—
Deed
related
$50,476 · Yellowstone Bk
Jun 10, 2016
—
Martin R & E Holdings LLC
—
Deed
related
$50,476 · Yellowstone Bk
Jan 21, 2014
—
Martin R & E Holdings LLC
—
Trustees Deed
related
$50,476 · Yellowstone Bk
Mar 31, 2008
—
Martin Real Estate Holdings LLC
Popelka Enterprises LLC
Warranty Deed
$1,660,600 · Wells Fargo Bank NA
Mar 22, 2000
—
Popelka Enterprises LLC
F & G LLC
Grant Deed
related
—
—
—
Martin R & E Holdings LLC
—
Loan Modification
related
$50,476 · Yellowstone Bk
—
—
Martin R & E Holdings LLC
—
Deed Of Trust
related
$858,279 · Yellowstone Bank
—
—
Martin R & E Holdings LLC
—
Loan Modification
related
$50,476 · Yellowstone Bk
—
—
Martin R & E Holdings LLC
—
Loan Modification
related
$50,476 · Yellowstone Bk
—
—
Martin R & E Holdings LLC
—
Loan Modification
related
$50,476 · Yellowstone Bk
—
—
Martin R & E Holdings LLC
—
Loan Modification
related
$50,476 · Yellowstone Bk
—
—
Martin R & E Holdings LLC
—
Loan Modification
related
$1,968,969 · Wells Fargo Bank
—
—
Martin R & E Holdings LLC
—
Loan Modification
related
$50,476 · Yellowstone Bk
—
—
Martin R & E Hldgs LLC
—
Loan Modification
related
$1,627,307 · Wells Fargo Bk
—
—
Martin Real Estate Holdings Ll
—
Deed Of Trust
related
$3,788,148 · Rocky Mountain Bank
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
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
Full reports are paid
Unlock the full Property Analytics report
Start free for 7 days — no card required. Full owner contacts, all 4 valuations with methodology, refine flow, comparable adjustments, foot-traffic deep dive, export to PDF / CSV.
