4770 King E Ave, Billings, MT 59101-4762

This 64-key My Place Hotel in Billings, Montana, presents a compelling investment opportunity. Built in 2014, this three-story, 19,768 square foot hotel sits on a 1.57-acre lot (APN: 3-0927-16-2-81-31-0000) and boasts a current occupancy rate of 73%. The property features a current NOI of $779,999 and a pro-forma NOI of $895,728, translating to a current cap rate of 9.51% and a pro-forma cap rate of 10.92%. Located at 4770 King Ave E, Billings, MT 59101, this strategically positioned property along Interstate 90 offers significant growth potential due to its location in Montana's largest city, a vital trade and distribution hub. Conservative projections estimate a stabilized Gross Room Revenue (GRR) of $1,911,866 and a Stabilized Net Operating Income (NOI) of $972,203, reflecting a RevPAR index of 92%. The asking price is $8,200,000 ($414.81/sq ft, $128,125/key). The property is zoned CC. Operational inefficiencies present opportunities for enhanced performance. Billings' thriving commercial center and rich history further enhance the property's appeal. This is a rare chance to acquire a well-located, high-potential hotel in a growing market.