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1238 Central Ave
Billings, MT 59102
Curves · Retail Property For Sale
INVESTMENT HIGHLIGHTS
- Many Major Improvements to the Building Recently
- Ideal Redevelopment Opportunity
EXECUTIVE SUMMARY
4 Tenant Retail Center for Sale
PRICE REDUCED $850,000 ($71 PSF)
12,000 SF Building
33,000 SF Lot
Large Pylon Sign
Built 1966, Numerous Capital Improvements 2020-2025
Cash Flowing with Current Rents Way Below Market
Ideal Redevelopment Opportunity (Storefront Modernization & Light Interior Remodel)
After Renovation Value is $1,800,000 to $2,100,000 Based on $12-14 NNN Lease Rates and 8% Cap Rate
Financials & Leases Available Upon Request
Tenants:
Sip & Paint – 3,500SF
Contractor – 1,500 SF
Smoker Friendly – 1,500 SF
Everlasting Church – 5,500 SF
Major Improvements:
2020: New roof; New Heater Unit for Sip and Paint.
2021: New Main Sewer Line to the Building; New roof top AC unit for Everlasting Church.
2022: New Rooftop AC Unit for Sip and Paint; Sealed and Striped Parking Lot.
2023: New Gutters; New Commercial Exterior Door for Everlasting Church; Painted Exterior of the Building (Front Side).
2024: New Garage Heater for 1242 Central Avenue
2025: New Gravel in the Alley to Help with Mud, Drainage, Etc.
Are you a contractor, real estate investor or developer looking for your next project? Do you like projects where all of the major capital improvements & infrastructure repairs have already been done and you get to focus on the fun design parts of redevelopment? If so, THIS PROJECT IS FOR YOU! This retail center is a great mix of long term tenants and month to month leases giving you maximum flexibility to enjoy cashflow while you do the storefront modernization. At the reduced price of only $71 PSF, this is your opportunity to buy a retail center at a price the gives an investor/developer tremendous upside.
PRICE REDUCED $850,000 ($71 PSF)
12,000 SF Building
33,000 SF Lot
Large Pylon Sign
Built 1966, Numerous Capital Improvements 2020-2025
Cash Flowing with Current Rents Way Below Market
Ideal Redevelopment Opportunity (Storefront Modernization & Light Interior Remodel)
After Renovation Value is $1,800,000 to $2,100,000 Based on $12-14 NNN Lease Rates and 8% Cap Rate
Financials & Leases Available Upon Request
Tenants:
Sip & Paint – 3,500SF
Contractor – 1,500 SF
Smoker Friendly – 1,500 SF
Everlasting Church – 5,500 SF
Major Improvements:
2020: New roof; New Heater Unit for Sip and Paint.
2021: New Main Sewer Line to the Building; New roof top AC unit for Everlasting Church.
2022: New Rooftop AC Unit for Sip and Paint; Sealed and Striped Parking Lot.
2023: New Gutters; New Commercial Exterior Door for Everlasting Church; Painted Exterior of the Building (Front Side).
2024: New Garage Heater for 1242 Central Avenue
2025: New Gravel in the Alley to Help with Mud, Drainage, Etc.
Are you a contractor, real estate investor or developer looking for your next project? Do you like projects where all of the major capital improvements & infrastructure repairs have already been done and you get to focus on the fun design parts of redevelopment? If so, THIS PROJECT IS FOR YOU! This retail center is a great mix of long term tenants and month to month leases giving you maximum flexibility to enjoy cashflow while you do the storefront modernization. At the reduced price of only $71 PSF, this is your opportunity to buy a retail center at a price the gives an investor/developer tremendous upside.
PROPERTY FACTS
Sale Type
Investment or Owner User
Property Type
Retail
Property Subtype
Storefront
Building Size
12,000 SF
Building Class
C
Year Built
1966
Price
$850,000
Price Per SF
$70.83
Cap Rate
8.46%
NOI
$71,920
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.36
Lot Size
0.76 AC
Zoning
CMU1 - Corridor Mixed Use 1
PROPERTY TAXES
| Parcel Number | 03-0927-08-2-25-17-0000 | Improvements Assessment | $467,289 |
| Land Assessment | $224,111 | Total Assessment | $691,400 |
PROPERTY TAXES
Parcel Number
03-0927-08-2-25-17-0000
Land Assessment
$224,111
Improvements Assessment
$467,289
Total Assessment
$691,400
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