220 Roger Ln, Miles City, MT 59301

Property Details for 220 Roger Ln

Year built

2023

Construction

WOOD

Lot size

1.19 lot acres

Zone code

6

Property type

Auto shops

APN

14-1740-35-2-01-03-0000

APU

14174035201030000

Description

This exceptional investment opportunity presents a 10,342 square foot, newly constructed (2024) Les Schwab Tire Center in Miles City, Montana. Situated on a 2.39-acre lot with high visibility on Roger Lane, this property benefits from its proximity to major highways (Interstate 94 and US Highway 59) and high-traffic retailers like Walmart and Albertsons. The property is leased under a 20-year absolute NNN ground lease (commencing January 18, 2024, and expiring January 31, 2044) with rent bumps included, providing investors with predictable, long-term income and minimal landlord responsibilities. The lease includes a corporate guarantee from LS Group Parent OpCo, LLC, further enhancing security. The property boasts a strong NOI of $73,283 and a 4.75% cap rate. The location enjoys an annual average daily traffic count of 10,173 vehicles. The affluent surrounding area, with an average household income of $84,570 within a one-mile radius, supports consistent demand for automotive services. This well-designed building features ample parking and easy access, making it an ideal location for Les Schwab's continued success. The property's strategic location, coupled with the established tenant and long-term lease, presents a compelling investment opportunity with significant potential for appreciation. The sale is structured for a 1031 exchange.

Location Insight

City

Miles City

County

Custer

State

Montana

Longitude

-105.821

Latitude

46.4057

Property Tax & Assessments