2319 Broadwater AveBillings, MT 59102

Property Details for 2319 Broadwater Ave

Year built

1940

Construction

WOOD

Lot size

0.26 AC

Property size (Sq ft)

1,534 SF

Zone code

RP

Property type

Mixed-use properties

Property subtype

Other investment properties

APN

03-0927-06-2-01-04-0000

APU

3092706201040000

Description

This exceptional Billings, Montana commercial property at 2319 Broadwater Ave offers a unique blend of office and retail space, ideal for owner-users or investors. The 2,392 square foot building, situated on an 11,399 square foot lot, boasts a prime location and is currently 100% occupied with two tenants, generating a strong return on investment. Built in 1940 and renovated five years ago, the three-story building features a recently updated roof, flooring, paint, lighting, kitchenette, and restroom. The layout includes a reception area, three offices, a private conference room, and a private office on the upper level. The lower levels house a hair salon and a separate tattoo salon. Ample parking is available with 15 spaces. The property is zoned Neighborhood Office-Residential and offers a fantastic opportunity in the thriving Billings market. The asking price is $434,900, translating to $181.81 per square foot. The current leases expire September 30, 2024. This multi-tenant property presents a compelling investment opportunity with significant upside potential. The building consists of one structure with three units.

• CAP approach

  CAP return

  Valuation

  6%

  $340,692

  6.5%

  $314,485

  7%

  $292,022

• Comparable approach

  Method

  Valuation

  Relative Method

  $387,996

  Geo Method

  $126,739

• Alternative Use

  Use

  Valuation

  Residential

  $389,962

  Hospitality

  $357,203

  Educational

  $297,188

  Medical

  $307,409

  Retail

  $462,293

Location Insight

City

Billings

County

Yellowstone

State

Montana

Latitude

45.7773

Longitude

-108.575

CBSA code

13740

CBSA name

BILLINGS, MT METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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