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    1722 Lampman Dr Billings, MT 59102
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    Property profile & analytics

    1722 Lampman Dr, Billings, MT 59102

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    • Commercial real estate
    • 6,000 SF
    Off-Market
    Property ID
    US52-0097312
    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

    • Commercial real estate

    Property Details for 1722 Lampman Dr

    Property type
    Commercial real estate

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Apr 29, 2022 — New Day INC Rcr LLC Warranty Deed $995k · Stockman Bank

    Description

    This exceptional commercial property, located at 1722 Lampman Drive in Billings, Montana, presents a unique investment opportunity. The single-tenant office building boasts a generous 6,000 square feet of space, ideally suited for a variety of businesses. The building features five private offices, three bathrooms, a dedicated server room, a spacious reception area, and a large bullpen workspace, providing ample room for employees and clients. Natural light floods the roomy offices, creating a bright and productive work environment. Situated on a full acre lot in a quiet cul-de-sac, this property offers both privacy and convenient access to the desirable Billings West End. The property's location in Yellowstone County, Montana, zip code 59102, provides easy access to major transportation routes and amenities. The asking price is $15 per square foot, NNN. This is a rare opportunity to acquire a well-maintained, single-tenant office building in a prime location. The property's size and features make it an ideal choice for a company seeking to establish a strong presence in the Billings market. Don't miss this chance to own a piece of Billings' thriving commercial real estate landscape.

    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
    -108.5576797
    Latitude
    45.7600327

    Comparable in this City

    • $18 SF/Yr
      29,000 SF

      Prime Billings Office Space

      Class A Office, 9,963 SF Available
      2075 Overland Ave, Billings, MT 59102
      View Details
    • Contact for pricing

      Billings Warehouse with Cooler/Freezer Space

      57,000+ SF warehouse with cooler/freezer, 28' ceilings, 6 docks.
      1629 King Ave W, Billings, MT 59102
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    • $12 SF/Yr

      Modern Office Space Available

      Strategically located office space with flexible leasing options.
      2913 Millennium Cir, Billings, MT 59102
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    • $2,750 /Mo

      Main Floor Medical Office Space

      Main floor office space with private offices and reception area.
      2409 Arnold Ln, Billings, MT 59102
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      Modern Midtown Office Space

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      Class A Office Building

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      Turnkey Insurance Office For Sale

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      Insurance Agency, Billings, MT 59102
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      Overland Avenue Office Warehouse Spaces

      Office and warehouse spaces available for lease on Overland Avenue.
      2110 Overland Ave, Billings, MT 59102
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      30,538 SF

      Former Event Center Investment Opportunity

      Partially completed event center with parking on 4.67 acres.
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    Similar Nearby for Lease

    • $18 SF/Yr
      29,000 SF

      Prime Billings Office Space

      Class A Office, 9,963 SF Available
      2075 Overland Ave, Billings, MT 59102
      View Details
    • Contact for pricing

      Billings Warehouse with Cooler/Freezer Space

      57,000+ SF warehouse with cooler/freezer, 28' ceilings, 6 docks.
      1629 King Ave W, Billings, MT 59102
      View Details
    • $12 SF/Yr

      Modern Office Space Available

      Strategically located office space with flexible leasing options.
      2913 Millennium Cir, Billings, MT 59102
      View Details
    • $2,750 /Mo

      Main Floor Medical Office Space

      Main floor office space with private offices and reception area.
      2409 Arnold Ln, Billings, MT 59102
      View Details
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    Billings, MT 59102
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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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