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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    2235 Grand Ave Billings, MT 59102-2618

    • Retail space
    • 1,064 SF
    • 0.19 lot acres
    OFF-MARKET
    Last Sale
    Jun 12, 2025
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US52-0012949
    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

    • Campbell Chiropractic Clinic / Chiropractor

    Property Details for 2235 Grand Ave

    Year built
    1954
    Construction
    WOOD
    Lot size
    0.19 lot acres
    Property size
    1,064 SF
    Zone code
    R-70
    Property type
    Retail space
    APN
    03-1032-35-4-03-10-0000
    APU
    3103235403100000

    Description

    This exceptional 1,064 square foot creative office space at 2235 Grand Ave in Billings, Montana, presents a fantastic investment opportunity. Built in 1954, this single-story building sits on an 8,400 square foot lot and is zoned NO-Neighborhood Office. The property is currently vacant, offering immediate occupancy for a new owner. The interior features three offices or exam rooms, a reception/waiting area, and two bathrooms, one of which is ADA compliant. The asking price is $275,000, translating to $258.46 per square foot. Its prime location near the intersection of Grand Avenue and 24th Street ensures high visibility and accessibility. Convenient off-street parking is available at the rear of the building. This property is ideal for a variety of businesses seeking a well-maintained, established space in a desirable Billings location. The building's layout is versatile and adaptable to suit a range of professional needs. The ample lot size offers potential for future expansion or outdoor amenities. Don't miss this chance to acquire a valuable commercial property in a thriving Montana market. This is a rare opportunity to own a piece of Billings' commercial landscape.

    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
    -108.574
    Latitude
    45.7844
    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
    $2,794
    $0.00
    $0.00
    $223,600
    -
    $133,178
    $90,422
    $223,600

    Comparable in this City

    • Value Estimation by Request
      10,900 SF

      900 24th W St

      RETAIL STORES (PERSONAL SERVICES) • 10,900 SF
      900 24th W St, Billings, MT 59102-6472
      View Details
    • Value Estimation by Request
      9,552 SF

      505 24th W St

      RETAIL STORES (PERSONAL SERVICES) • 9,552 SF
      505 24th W St, Billings, MT 59102-6245
      View Details
    • Value Estimation by Request
      30,107 SF

      951 29th W St

      RETAIL STORES (PERSONAL SERVICES) • 30,107 SF
      951 29th W St, Billings, MT 59102-7434
      View Details
    • Value Estimation by Request
      10,000 SF

      1327 29th W St

      RETAIL STORES (PERSONAL SERVICES) • 10,000 SF
      1327 29th W St, Billings, MT 59102-7401
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    • Value Estimation by Request
      9,600 SF

      2902 Millennium Cir

      RETAIL STORES (PERSONAL SERVICES) • 9,600 SF
      2902 Millennium Cir, Billings, MT 59102-7475
      View Details
    • Value Estimation by Request
      40,984 SF

      2914 Millennium Cir

      RETAIL STORES (PERSONAL SERVICES) • 40,984 SF
      2914 Millennium Cir, Billings, MT 59102-7475
      View Details

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    Similar Nearby for Lease

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      4,500 SF

      Retail Space on 24th Street

      Retail space available at a fully signalized corner location.
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    • $10 SF/Yr
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      Prime Retail Space on Grand

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      Renovated Retail/Office Space on Grand

      Two-story, renovated retail/office space with high visibility on Grand Avenue.
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      Retail Space on Central Avenue

      Retail space available for lease on Central Avenue.
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    • $1,400,000
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      Retail Space in Prime Center

      Retail space available in professionally managed shopping center.
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    2235 Grand Ave
    Billings, MT 59102-2618
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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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