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Property profile & analytics
OFF-MARKET
Hotels
27 27th St, Billings, MT 59101-2357
Individually Owned
19-yr Hold
Property ID
US52-0957420
Property profile
Verified
Property type
Hotels
Use group
HOTEL/MOTEL
Year built
1980
Construction
FRAME
Total area
292,448 SF
Lot
0.96 ac (41,992 SF)
Zoning code
CBD
APN
03-0927-03-1-38-05-0000
UPID
US52-0957420
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
-
KKBR Radio Station Telecommunications Service
-
Marble Coffee Co Cafe & Coffee Shop
-
Mae Counseling Services Counselor
-
Townsquare Tower Radio Station Telecommunications Service
-
Hawk Radio Station Telecommunications Service
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
Randy Meyer · 19 yrs held
Randy Meyer
since 2006
7 recorded transactions
Zoning & alternative use
CBD · Billings, MT
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
$215,349
Tax year 2023
Assessed value
$17,235,900
Assessed 2023
Previous assessed
$17,235,900
+0.0% YoY
Effective rate
1.25%
On assessed value
Land market value
$1,833,446
Improvement market value
$15,402,454
Total market value
$17,235,900
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
Hotels
Use group
HOTEL/MOTEL
Status
Off-Market
Year built
1980
Construction
FRAME
Heating
HOT WATER
Cooling
CENTRAL
Stories
23
Total area
292,448 SF
Lot
0.96 ac (41,992 SF)
Zoning code
CBD
APN
03-0927-03-1-38-05-0000
UPID
US52-0957420
Jurisdiction
YELLOWSTONE
Zoning & alternative use
CBD · Billings, MT
Zoning CBD · permitted uses
CBD · Billings, MT
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Billings. Always verify with local authorities before improvements.
Building & site characteristics
From public records
Year built
1980
Construction
FRAME
Heating
HOT WATER
Cooling
Yes
Stories
23
Lot
0.96 ac
Current owner
From public records · entity-resolved
Randy Meyer
Individual
Mailing address
203 SE PARK PLZ DR STE #230, VANCOUVER, WA 98684-5884
Ownership since
2006
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
8 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Nov 10, 2020
—
Makenna Hotel Investments LLC Dba
—
Deed
related
$236,021 · Western Security Bank
Oct 17, 2007
—
Makenna Hotel Investments LLC
—
Deed Of Trust
related
$20,000,000 · Patrick M Moran
Aug 3, 2006
—
Randy Meyer
Owner Name Unavailable
Grant Deed
—
Nov 29, 2005
—
Nwh Billings LLC
Nationwide Hospitality
Warranty Deed
—
—
—
Makenna Hotel Investments LLC
—
Deed Of Trust
related
$13,837,738 · Western Security Bank
—
—
Makenna Hotel Investments LLC
—
Loan Modification
related
$25,000,000 · Western Sec Bk
—
—
Makenna Hotel Investments LLC
—
Deed Of Trust
related
$22,000,000 · Western Security Bank
—
—
Makenna Hotel Investments LLC
—
Deed Of Trust
related
—
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.
Try Rey
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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