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Property profile & analytics
OFF-MARKET
Office buildings
615 27th St, Billings, MT 59101-4569
Entity Owned
10-yr Hold
Absentee Owner
Free & Clear
Property ID
US52-0088265
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1997
Construction
WOOD
Total area
17,897 SF
Lot
0.96 ac (41,948 SF)
Zoning code
PZD
APN
03-0927-03-4-44-07-0000
UPID
US52-0088265
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
-
Driver Services Bureau Driver'S License Office
-
Montana Department of Justice Government Office
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
Vtr Properties LLC · 10 yrs held
Vtr Properties LLC
since 2016
6 recorded transactions
Zoning & alternative use
PZD · 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
$21,439
Tax year 2023
Assessed value
$1,715,900
Assessed 2023
Previous assessed
$1,715,900
+0.0% YoY
Effective rate
1.25%
On assessed value
Land market value
$281,897
Improvement market value
$1,434,003
Total market value
$1,715,900
Applied tax rate
965.0000
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
Office buildings
Use group
OFFICE BUILDING
Status
Off-Market
Year built
1997
Construction
WOOD
Heating
YES
Cooling
CENTRAL
Stories
1
Total area
17,897 SF
Lot
0.96 ac (41,948 SF)
Zoning code
PZD
APN
03-0927-03-4-44-07-0000
UPID
US52-0088265
Jurisdiction
YELLOWSTONE
Zoning & alternative use
PZD · Billings, MT
Zoning PZD · permitted uses
PZD · 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
1997
Construction
WOOD
Heating
YES
Cooling
Yes
Stories
1
Lot
0.96 ac
Current owner
From public records · entity-resolved
Vtr Properties LLC
Entity
Free & Clear · 10 yrs held
Mailing address
214 PNE HVN TRL, BILLINGS, MT 59105-4674
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2016
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jan 15, 2020
—
Victor D Reichenbach
—
Deed
related
—
Nov 4, 2019
—
Victor D Reichenbach
—
Deed
related
—
May 13, 2016
—
Vtr Properties LLC
Reichenbach,victor & Todd
Quit Claim Deed
related
—
—
—
Victor D Reichenbach
—
Loan Modification
related
—
—
—
Victor D Reichenbach
—
Loan Modification
related
—
—
—
Victor D Reichenbach
—
Deed Of Trust
related
—
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
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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