2834 King AveBillings, MT 59102

Property Details for 2834 King Ave

Year built

2003

Construction

WOOD

Property size (Sq ft)

3,029 SF

Zone code

CI

Property type

Retail properties

Property subtype

Drive through restaurants

APN

03-0926-13-1-78-01-4001

APU

3092613178014001

Description

This exceptional investment opportunity presents a newly renovated Arby's restaurant in Billings, Montana, situated on a 1.03-acre lot at 2834 King Ave W, 59102. The property boasts 3,400 square feet of space in a single-story building constructed in 1979 and completely renovated in 2024. The property is currently operating at 100% occupancy under a 20-year absolute NNN lease with a franchisee tenant, AES Restaurants, offering a strong, stable income stream. The asking price is $3,471,436, representing a 5.50% cap rate with a current Net Operating Income (NOI) of $190,929. The lease includes four, five-year renewal options, with a 10% rent increase every five years. This prime location is part of a vibrant retail corridor, situated as an outparcel to a shopping center anchored by Home Depot, Office Depot, Old Navy, and Michaels, and across from a Walmart Supercenter. Its convenient access to Interstate 90 exit ensures high visibility and accessibility. The property is zoned for commercial use and offers a compelling investment opportunity due to its strong tenant, long-term lease, and prime location within a thriving retail environment. The property's recent renovation ensures modern facilities and operational efficiency, further enhancing its investment appeal. This sale-leaseback transaction provides a secure and passive income stream for the investor.

• CAP approach

  CAP return

  Valuation

  6%

  $988,901

  6.5%

  $912,832

  7%

  $847,629

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,930,639

  Geo Method

  $630,645

• Alternative Use

  Use

  Valuation

  Residential

  $770,008

  Hospitality

  $705,323

  Educational

  $586,820

  Medical

  $607,002

  Retail

  $912,832

Location Insight

City

Billings

County

Yellowstone

State

Montana

Latitude

45.7547

Longitude

-108.585

CBSA code

13740

CBSA name

BILLINGS, MT METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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