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    FOR SALE
    Banks

    2929 3Rd Ave N, Billings, MT 59101

    53,169 SF 0.96 ac lot Built 1978
    Individually Owned 8-yr Hold ~ Est. High Equity
    Property ID
    US52-0103838
    2929 3Rd Ave N, Billings, MT 59101 For Sale 1 / 31
    $5,464,910 53,169 SF
    2929 3Rd Ave N, Billings, MT 59101
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    Property summary
    AI-generated overview

    This exceptional Class A, five-story office building, located at 2929 3rd Ave N in Billings, Montana, presents a unique investment opportunity. Spanning 63,062 square feet on a sizable 42,000 square foot lot (approximately half a block), this property boasts a prime downtown location within both an Opportunity Zone and the downtown Tax Increment Financing (TIF) district. Built in 1978 and renovated in 2005, the building features a desirable three-lane drive-through, ideal for a variety of uses, including a bank, pharmacy, or restaurant. The first and second floors are currently vacant, offering significant potential for an owner-occupier. Floors three through five are occupied by a mix of government tenants, a law office, a property manager, and general office users, resulting in a 61% occupancy rate. The building's former tenant was Rocky Mountain Bank. Excellent exterior signage opportunities exist. Detailed financial information and rent roll are available upon execution of a Non-Disclosure Agreement. This property offers substantial upside potential for investors seeking a strong presence in the heart of Billings. The permitted zoning is CBD Central Business District. The asking price is $5,189,000.

    Property profile
    Verified
    Property type Banks
    Use group FINANCIAL BUILDING
    Year built 1978
    Total area 53,169 SF
    Lot 0.96 ac (41,992 SF)
    Zoning code CBD
    APN 03-0927-03-2-42-06-0000
    UPID US52-0103838
    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
    • Federal Bureau of Investigation (FBI) Federal Government Office Atm
    • Tamarack Property Management Co Apartment Complex Apartment Rental Agency
    • Bureau of Alcohol, Tobacco, Firearms and Explosives - Billings Field Office Government Office
    • Rocky Mountain Bank (now Western Security Bank) Bank Loan Service
    • Rocky Mountain Tribal Leaders Council Tribal Headquarters
    5 occupants on record
    Value estimations
    Realmo proprietary · 4 methods
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    by Request
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    Owner & transaction history
    Rocky Mountain Bk · 8 yrs held
    Rocky Mountain Bk
    since 2018
    4 recorded transactions
    2018
    —
    2001
    —
    1969
    —
    1969
    —
    Zoning & alternative use
    CBD · Billings, MT
    Permitted uses
    Permitted uses
    Allowed · conditional · prohibited
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