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Property profile & analytics
OFF-MARKET
Grocery and convenience stores
2620 6th N Ave Billings, MT 59101-1350
Individually Owned
Property ID
US52-0050933
Property profile
Verified
Property type
Grocery and convenience stores
Use group
CONVENIENCE STORE
Year built
1965
Construction
WOOD
Total area
2,430 SF
Lot
0.4 ac (17,468 SF)
Zoning code
CBD
APN
03-1033-32-4-17-06-0000
UPID
US52-0050933
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
-
Holiday Stationstores Grocery & Convenience Store
-
U.S. Bank ATM Atm
-
Circle K Gas Station
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
Mark R Morgenstern
Mark R Morgenstern
1 recorded transaction
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
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
$13,116
Tax year 2023
Assessed value
$1,049,817
Assessed 2023
Previous assessed
$1,049,817
+0.0% YoY
Effective rate
1.25%
On assessed value
Land market value
$768,997
Improvement market value
$280,820
Total market value
$1,049,817
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
Grocery and convenience stores
Use group
CONVENIENCE STORE
Status
Off-Market
Year built
1965
Construction
WOOD
Heating
YES
Cooling
CENTRAL
Stories
1
Total area
2,430 SF
Lot
0.4 ac (17,468 SF)
Zoning code
CBD
APN
03-1033-32-4-17-06-0000
UPID
US52-0050933
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
1965
Construction
WOOD
Heating
YES
Cooling
Yes
Stories
1
Lot
0.4 ac
Current owner
From public records · entity-resolved
Mark R Morgenstern
Individual
Mailing address
PO BOX 1224, MINNEAPOLIS, MN 55440-1224
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
—
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
—
—
Mark R Morgenstern
—
Deed Of Trust
related
$17,375 · Mann Financial INC
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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