2834 King W Ave Billings, MT 59102-6432

Property Details for 2834 King W Ave

Year built

2003

Construction

WOOD

Property size

3,029 SF

Zone code

CI

Property type

Drive through restaurants

APN

03-0926-13-1-78-01-4001

APU

3092613178014001

Description

This exceptional investment opportunity presents a newly renovated Arby's restaurant in Billings, Montana, situated on a 1.03-acre lot at 2834 King Ave W, 59102. The property boasts 3,400 square feet of space in a single-story building constructed in 1979 and completely renovated in 2024. The property is currently operating at 100% occupancy under a 20-year absolute NNN lease with a franchisee tenant, AES Restaurants, offering a strong, stable income stream. The asking price is $3,471,436, representing a 5.50% cap rate with a current Net Operating Income (NOI) of $190,929. The lease includes four, five-year renewal options, with a 10% rent increase every five years. This prime location is part of a vibrant retail corridor, situated as an outparcel to a shopping center anchored by Home Depot, Office Depot, Old Navy, and Michaels, and across from a Walmart Supercenter. Its convenient access to Interstate 90 exit ensures high visibility and accessibility. The property is zoned for commercial use and offers a compelling investment opportunity due to its strong tenant, long-term lease, and prime location within a thriving retail environment. The property's recent renovation ensures modern facilities and operational efficiency, further enhancing its investment appeal. This sale-leaseback transaction provides a secure and passive income stream for the investor.