Back to Search
Property profile & analytics
OFF-MARKET
Showrooms
2123 1st N Ave Billings, MT 59101-2404
Entity Owned
3-yr Hold
Property ID
US52-0042710
Property profile
Verified
Property type
Showrooms
Use group
SHOW ROOM, WAREHOUSE
Year built
1959
Construction
WOOD
Total area
10,200 SF
Lot
0.56 ac (24,481 SF)
Zoning code
CI
APN
03-1033-33-3-19-07-0000
UPID
US52-0042710
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
-
Thirsty Street Brewing Co. Production Facility Brewery & Distillery
-
Discontent Lifestyle Stores (Bike/Boat/Book/etc) Store Alternative Medicine Practice
-
Undammed Distilling Co. Brewery & Distillery Bar & Pub
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
Thirsty Street LLC · 3 yrs held
Thirsty Street LLC
since 2023
6 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
$9,109
Tax year 2023
Assessed value
$729,100
Assessed 2023
Previous assessed
$729,100
+0.0% YoY
Effective rate
1.25%
On assessed value
Land market value
$219,444
Improvement market value
$509,656
Total market value
$729,100
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
Showrooms
Use group
SHOW ROOM, WAREHOUSE
Status
Off-Market
Year built
1959
Construction
WOOD
Heating
SPACE
Cooling
CENTRAL
Stories
1
Total area
10,200 SF
Lot
0.56 ac (24,481 SF)
Zoning code
CI
APN
03-1033-33-3-19-07-0000
UPID
US52-0042710
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
1959
Construction
WOOD
Heating
SPACE
Cooling
Yes
Stories
1
Lot
0.56 ac
Current owner
From public records · entity-resolved
Thirsty Street LLC
Entity
Mailing address
3008 1ST AVE N, BILLINGS, MT 59101-2134
Ownership since
2023
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Nov 17, 2025
—
Thirsty Street LLC
—
Deed
related
$327,560 · Yellowstone Bank
Jan 25, 2023
—
Thirsty Street LLC
Montana Power Building LLC
Warranty Deed
$564,039 · First Interstate Bank
Jun 13, 2018
—
Montana Power Building LLC
Telico LLC
Warranty Deed
$488,812 · Stockman Bk/mt
Sep 8, 2011
—
Telico LLC
Riverside Farms INC
Warranty Deed
$405,000 · Riverside Farms INC
Nov 2, 1998
—
Riverside Farms INC
Hancock Properties
Grant Deed
$165,194 · Little Horn State Bank
—
—
Riverside Farms INC
—
Deed Of Trust
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
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
You own 2123 1st N Ave?
List it free. Reach 20,000 daily buyers.
We’ve already pulled the facts. Confirm photos + price and you’re live in 2 minutes.
List this address →
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.
