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Property profile & analytics
FOR SALE
Showrooms
2611 Minnesota Ave Billings, MT 59101-4256
Individually Owned
17-yr Hold
~
Est. High Equity
Property ID
US52-0064117
For Sale
1 / 50
$450,000
2611 Minnesota Ave, Billings, MT 59101-4256
View Listing →
Property profile
Verified
Property type
Showrooms
Use group
SHOW ROOM, WAREHOUSE
Year built
1948
Construction
STEEL FRAME
Total area
4,820 SF
Zoning code
CBD
APN
03-0927-03-1-39-01-4000
UPID
US52-0064117
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
-
Steve Harman Law, PLLC Law Firm
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$280k
Owner & transaction history
Harman,steven J & Joni A · 17 yrs held
Harman,steven J & Joni A
since 2008
2 recorded transactions
Zoning & alternative use
CBD · Billings, MT
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
districts are primarily intended to allow a mix of uses within appropriately scaled buildings to maintain and promote the desired physical character of the downtown and commercial nodes and corridors within the city. A. CBD: Central business district. The CBD district is the downtown mixed-use core intended to continue the existing character of the highly wa…
Zone name
Central Business District
General category
MIXED_USE
Zone area
149.13 ac
Source
code of ordinances
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
Method
Estimation
Statistic approach
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$280k
Range $252k – $308k · ±10%
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$58 / SF
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
$2,273
Tax year 2023
Assessed value
$181,900
Assessed 2023
Previous assessed
$181,900
+0.0% YoY
Effective rate
1.25%
On assessed value
Improvement market value
$181,900
Total market value
$181,900
Applied tax rate
9,653.0000
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
For Sale
Year built
1948
Construction
STEEL FRAME
Heating
SPACE
Cooling
CENTRAL
Stories
1
Total area
4,820 SF
Zoning code
CBD
APN
03-0927-03-1-39-01-4000
UPID
US52-0064117
Jurisdiction
YELLOWSTONE
Zoning & alternative use
CBD · Billings, MTZoning CBD · permitted uses
CBD · Billings, MT
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
districts are primarily intended to allow a mix of uses within appropriately scaled buildings to maintain and promote the desired physical character of the downtown and commercial nodes and corridors within the city. A. CBD: Central business district. The CBD district is the downtown mixed-use core intended to continue the existing character of the highly walkable downtown commercial corridors with storefronts and residential uses on the g
Zone name
Central Business District
General category
MIXED_USE
Zone area
149.13 ac
Source
code of ordinances
Building & site characteristics
From public records
Year built
1948
Construction
STEEL FRAME
Heating
SPACE
Cooling
Yes
Stories
1
Current owner
From public records · entity-resolved
Harman,steven J & Joni A
Individual
Mailing address
PO BOX 2204, BILLINGS, MT 59103-2204
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2008
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Oct 28, 2008
—
Harman,steven J & Joni A
—
Trustees Deed
related
$1,046,042 · Western Sec Bk
—
—
Steven J Harman
—
Loan Modification
related
$1,424,740 · Western Sec Bk
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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