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Property profile & analytics
OFF-MARKET
Medical Office Space
2294 Grant Rd Billings, MT 59102-7423
Entity Owned
2-yr Hold
Property ID
US52-0042023
Property profile
Verified
Property type
Medical Office Space
Use group
MEDICAL BUILDING
Year built
2003
Construction
WOOD
Total area
6,104 SF
Lot
2.38 ac (103,455 SF)
APN
03-0927-18-2-05-20-0000
UPID
US52-0042023
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
-
Mrs. Laine Elam Physician
-
Kynzie Oliver Physician
-
Billings Dermatology & Aesthetics Physician Medical Clinic
-
Dr. Philip Tallman Physician Medical Clinic
-
Tanya Riddle Physician Medical Clinic
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
Big Sky Economic Development Corpor · 2 yrs held
Big Sky Economic Development Corpor
since 2024
7 recorded transactions
Zoning & alternative use
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
$20,705
Tax year 2023
Assessed value
$1,845,900
Assessed 2023
Previous assessed
$1,845,900
+0.0% YoY
Effective rate
1.12%
On assessed value
Land market value
$726,438
Improvement market value
$1,119,462
Total market value
$1,845,900
Applied tax rate
981.0000
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
Medical Office Space
Use group
MEDICAL BUILDING
Status
Off-Market
Year built
2003
Construction
WOOD
Heating
YES
Cooling
CENTRAL
Stories
1
Total area
6,104 SF
Lot
2.38 ac (103,455 SF)
APN
03-0927-18-2-05-20-0000
UPID
US52-0042023
Jurisdiction
YELLOWSTONE
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Building & site characteristics
From public records
Year built
2003
Construction
WOOD
Heating
YES
Cooling
Yes
Stories
1
Lot
2.38 ac
Current owner
From public records · entity-resolved
Big Sky Economic Development Corpor
Entity
Mailing address
2294 N GRANT RD, BILLINGS, MT 59102-7423
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2024
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
7 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jul 24, 2024
—
Big Sky Economic Development Corpor
Billings Derm Property Holdeo LLC
Deed
—
Jul 17, 2024
—
Billings Derm Property Holdco LLC
Tallman Medical Building LLC
Warranty Deed
$876,975 · Stockman Bank Of Montana
Jun 9, 2020
—
Veeder Homestead LLC
Tallman Medical Building LLC
Quit Claim Deed
related
—
Feb 9, 2006
—
Tallman Medical Building LLC
Tallman,philip G & Lara J
Quit Claim Deed
related
—
Sep 30, 2002
—
Philip G Tallman
Frye,lloyd H & Roberta J
Grant Deed
related
—
Aug 29, 2000
—
Lloyd H Frye
Commerce Financial Co
Grant Deed
$169,000 · Wells Fargo Bank
—
—
Philip Tallman
—
Deed Of Trust
related
$1,000,000 · Us Bank NA
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.
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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