New search
Property profile & analytics
OFF-MARKET
Retail space
2923 Montana Ave Billings, MT 59101-2143
Entity Owned
2-yr Hold
Property ID
US52-0957845
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
1905
Construction
WOOD
Total area
7,250 SF
Lot
0.08 ac (3,267 SF)
Zoning code
CBD
APN
03-0927-03-2-28-01-0000
UPID
US52-0957845
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
-
Images By Kim Erickson Photography Service (Bike/Boat/Book/etc) Store
-
Sunrise Studio & Art Gallery Art Studio Art Gallery
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
2923 LLC · 2 yrs held
2923 LLC
since 2023
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
$8,214
Tax year 2023
Assessed value
$657,500
Assessed 2023
Previous assessed
$657,500
+0.0% YoY
Effective rate
1.25%
On assessed value
Land market value
$29,704
Improvement market value
$627,796
Total market value
$657,500
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
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Status
Off-Market
Year built
1905
Construction
WOOD
Heating
YES
Cooling
AC.PACKAGE
Stories
2
Bathrooms
1
Total area
7,250 SF
Lot
0.08 ac (3,267 SF)
Zoning code
CBD
APN
03-0927-03-2-28-01-0000
UPID
US52-0957845
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
1905
Construction
WOOD
Heating
YES
Cooling
Yes
Stories
2
Bathrooms
1
Lot
0.08 ac
Current owner
From public records · entity-resolved
2923 LLC
Entity
Mailing address
PO BOX 2157, BILLINGS, MT 59103-2157
Ownership since
2023
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
Oct 24, 2025
—
2923 LLC
—
Deed
related
$825,000 · Opportunity Bank Of Mt
Aug 29, 2023
—
2923 LLC
Bar F Investments LLC
Warranty Deed
$680,000 · Opportunity Bank Of Mt
Apr 3, 2020
—
Bar F Investments LLC
Hospitality Concepts LLC
Warranty Deed
$564,234 · Stockman Bk/mt
Jun 13, 2008
—
Hospitality Concepts LLC
—
Trustees Deed
related
$1,330,165 · First Interstate Bank
Oct 28, 2004
—
Hospitality Concepts LLC
Seaside Properties LLC
Warranty Deed
related
—
Aug 25, 2004
—
Seaside Properties LLC
—
Trustees Deed
related
$125,692 · Stockman Bank Of Montana
—
—
Hospitality Concepts LLC
—
Deed Of Trust
related
$291,136 · Rocky Mountain Bank Billings
—
—
Anderson Management Group LLC
—
Deed Of Trust
related
$357,314 · Beartooth Bank
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
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
You own 2923 Montana Ave?
List it free. Reach 20,000 daily buyers.
We’ve already pulled the facts. Confirm photos + price and you’re live in 2 minutes.
List this address →
Full reports are paid
Unlock the full Property Analytics report
Start free for 7 days — no card required. Full owner contacts, all 4 valuations with methodology, refine flow, comparable adjustments, foot-traffic deep dive, export to PDF / CSV.
