Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    315 24th St Billings, MT 59101-1311

    • Office buildings
    • 5,150 SF
    • 0.48 lot acres
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US52-0951303
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Ron Sanchez - State Farm Insurance Agent / Home Insurance Agency / Life Insurance Agency
    • Brown Law Firm, P.C. / Attorney
    • Gallinger, Kelly J / Attorney
    • Wilson, Jon A / Attorney
    • James Casto / Dentist

    Property Details for 315 24th St

    Year built
    1982
    Construction
    WOOD
    Lot size
    0.48 lot acres
    Property size
    5,150 SF
    Zone code
    CBD
    Property type
    Office buildings
    APN
    03-1033-33-3-17-05-0000
    APU
    3103333317050000

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Billings
    County
    Yellowstone
    State
    Montana
    Longitude
    -108.503
    Latitude
    45.7867
    CBSA code
    13740
    CBSA name
    BILLINGS, MT METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $12,182
    $0.00
    $0.00
    $975,000
    -
    $188,385
    $786,615
    $975,000

    Comparable in this City

    • Value Estimation by Request
      11,210 SF

      3021 6th N Ave

      OFFICE BUILDING • 11,210 SF
      3021 6th N Ave, Billings, MT 59101-1145
      View Details
    • Value Estimation by Request
      19,268 SF

      947 Broadwater Sq

      OFFICE BUILDING • 19,268 SF
      947 Broadwater Sq, Billings, MT 59101-1634
      View Details
    • Value Estimation by Request
      5,682 SF

      925 18th St

      OFFICE BUILDING • 5,682 SF
      925 18th St, Billings, MT 59101-0332
      View Details
    • Value Estimation by Request
      16,256 SF

      2902 1st N Ave

      OFFICE BUILDING • 16,256 SF
      2902 1st N Ave, Billings, MT 59101
      View Details
    • Value Estimation by Request
      167,649 SF

      316 26th St

      OFFICE BUILDING • 167,649 SF
      316 26th St, Billings, MT 59101-1327
      View Details
    • Value Estimation by Request
      16,226 SF

      1101 27th St

      OFFICE BUILDING • 16,226 SF
      1101 27th St, Billings, MT 59101-0101
      View Details

    Similar Nearby for Sale

    • $850,000
      8 SF

      Professional Office Building on Grand

      High-visibility office building suitable for investors or owner-occupiers.
      145 Grand Ave Billings, Billings, MT 59101
      View Details
    • $998,000
      6 SF

      Adaptable Commercial Property For Sale

      Commercial property featuring office building and shop space for sale.
      2404 N 24Th St, Billings, MT 59101
      View Details
    • $2,500,000
      117,141 SF

      Downtown Billings High-Rise Opportunity

      Iconic 8-story building in downtown Billings with repositioning potential.
      303 North Broadway, Billings, MT 59101
      View Details
    • $2,300,000
      18,560 SF

      Billings Aviation Property with Hangar

      Aviation property featuring office space and airplane hangar.
      1613 Aviation Pl, Billings, MT 59101
      View Details
    • $235,000
      1,348 SF

      Office Building Near Montana Avenue

      1,348 SF office building on a 3,500 SF lot.
      3116 1St Ave N, Billings, MT 59101
      View Details
    • Contact for pricing
      213,615 SF

      Remodeled Office Spaces For Sale

      Newly remodeled office spaces with incentives in downtown Billings.
      316 N 26Th St, Billings, MT 59101
      View Details

    Similar Nearby for Lease

    • $14 SF/Yr
      12,864 SF

      Prime Billings Executive Office Space

      Downtown Billings Office, Ample Parking
      3333 2Nd Ave, Billings, MT 59101
      View Details
    • $8 SF/Yr
      10,455 SF

      Prime Billings Office/Industrial Space

      10,455 SF, Flexible Layout, Updated
      1123 3Rd Ave, Billings, MT 59101
      View Details
    • $15 SF/Yr
      1,950 SF

      Billings Office Space For Rent

      Office space available for lease in Billings, Montana.
      2724 Montana Ave, Billings, MT 59101
      View Details
    • $4,800 /Mo
      4,128 SF

      Versatile Warehouse with Office, Apartment

      4,128 SF property with warehouse, office, and apartment space.
      3641 S 56Th St W, Billings, MT 59101
      View Details
    • $9 SF/Yr
      3,325 SF

      Main Floor Office Space

      Main floor office with private offices, reception, and breakroom.
      2525 6Th Ave N, Billings, MT 59101
      View Details
    • $500 /Mo
      17,406 SF

      Downtown Billings Office Space

      Office space in historic Montana Power Building, downtown Billings.
      115 N Broadway, Billings, MT 59101
      View Details

    Property Visit Statistics

    • Visits by month
      6.1k
    • Visitors by month
      6.2k
    • Avg Time on site
      25 min
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    315 24th St
    Billings, MT 59101-1311
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.