242 Airport Rd Billings, MT 59105-3007
Property profile & analytics
242 Airport Rd Billings, MT 59105-3007
- Hotels
- 38,450 SF
- 1.40 lot acres
Property ID
US52-0104957
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.
Location Intelligence
Current Use by Public Records
- Boothill Inn & Suites / Hotel & Motel
Property Details for 242 Airport Rd
- Year built
- 2000
- Construction
- WOOD
- Lot size
- 1.40 lot acres
- Property size
- 38,450 SF
- Property type
- Hotels
- Property subtype
- Motels
- APN
- 03-1033-27-3-05-20-0000
- APU
- 3103327305200000
Description
This exceptional 69-key motel in Billings, Montana presents a compelling investment opportunity. Boasting 38,450 square feet on a 61,010 square foot lot, this four-story, 2000-built property underwent extensive renovations between 2021 and 2023. The property features 70 parking spaces and is conveniently located near the Metra (10,000 seat arena) and airport, providing easy access to local attractions. The asking price is $11,250,000, representing a price per square foot of $292.59 and a land value of $20 per square foot. The property's strong performance is evidenced by a 2023 room revenue of $2,812,153, an ADR of $162.54, an occupancy rate of 69%, and a RevPAR of $111.66, based on 17,301 rooms sold. The trailing twelve-month occupancy (as of July 11, 2024) stands at 69.5%. The current NOI is $501,916, with a pro-forma NOI of $807,453, yielding a current cap rate of 4.46% and a pro-forma cap rate of 7.18%. Recent improvements include the conversion of eight rooms, modernized pool equipment, replacement of all PTAC units with wall controls, upgraded door locks, a new shuttle vehicle, installation of CO detectors, upgraded security cameras, elevator refurbishment, repainting and recarpeting of guest rooms and public areas, and new guest room lighting. The property is zoned CMU-1 Corridor Mixed Use 1 and benefits from a strong employee culture focused on exceptional customer service, with a team of 39 employees. The motel also features a new website and online booking engine emphasizing direct bookings and consistently ranks number one on TripAdvisor. This is a turnkey operation with significant upside potential.
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
- -108.479
- Latitude
- 45.8035
- 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
$49,126
$0.00
$0.00
$3,931,900
-
$226,232
$3,705,668
$3,931,900
