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2401 Montana Ave
Billings, MT 59101
Buffalo Block @ the Historic Rex Building · Retail Property For Sale
INVESTMENT HIGHLIGHTS
- Landmark historic property with architectural prestige.
- Prime downtown location ideal for dining, hospitality, catering, boutique office tenants, and residential use.
- Liquor license concession available.
- Additional parking available.
EXECUTIVE SUMMARY
Buffalo Block @ The Elegant Historic Rex Building
For Sale PRICE REDUCED: $4,500,000
For Lease: $16.00 - $22.00 SF/YR
Timeless Character. Modern Opportunity.
The Historic Rex building blends historic charm with contemporary flexibility, offering a rare chance for both investors and restaurateurs. Its prime location and landmark reputation make it an ideal setting for a signature dining destination, boutique office, or adaptive mixed-use concept. History of the Rex Building: "The Eclectic style hotel was built in 1920 by Alfred Heim, chef for the Buffalo Bill Cody Wild West Show. Bill Cody helped finance the project and was a frequent visitor to the hotel. You can see the original pressed tin ceiling of the first floor in the present-day Rex Restaurant. The one-story wing to the east was added in 1998".
Resource: Yellowstone Historic Presentation Board.
Main Floor/ Basement Options
Option 1 - Full Service Restaurant with all beverage liquor license concession available.
Option 2 - Mixed Use: Restaurant & Banquet Space with all beverage liquor license concession available.
Option 3- Class A Office Space: Renovation Required
Option 4 - Purchase of building and all beverage license
*License Shall NOT be sold separately*
Property Highlights:
Buffalo Block @ Historic Rex Building (fine dining area): 3,250 SF
Addition (bar/lounge): 3,194 SF
Basement: 3,250 SF (must be part of first floor sublease; not leasable as
standalone)
Total Rentable SF (main floor/basement): 6,444 SF
Second Floor: 3,250 SF
Third Floor: 3,250 SF
Landmark historic property with architectural prestige.
Liquor license concession available.
Prime downtown location ideal for dining, hospitality, catering, boutique office tenants, and residential use.
Additional parking available.
For Sale PRICE REDUCED: $4,500,000
For Lease: $16.00 - $22.00 SF/YR
Timeless Character. Modern Opportunity.
The Historic Rex building blends historic charm with contemporary flexibility, offering a rare chance for both investors and restaurateurs. Its prime location and landmark reputation make it an ideal setting for a signature dining destination, boutique office, or adaptive mixed-use concept. History of the Rex Building: "The Eclectic style hotel was built in 1920 by Alfred Heim, chef for the Buffalo Bill Cody Wild West Show. Bill Cody helped finance the project and was a frequent visitor to the hotel. You can see the original pressed tin ceiling of the first floor in the present-day Rex Restaurant. The one-story wing to the east was added in 1998".
Resource: Yellowstone Historic Presentation Board.
Main Floor/ Basement Options
Option 1 - Full Service Restaurant with all beverage liquor license concession available.
Option 2 - Mixed Use: Restaurant & Banquet Space with all beverage liquor license concession available.
Option 3- Class A Office Space: Renovation Required
Option 4 - Purchase of building and all beverage license
*License Shall NOT be sold separately*
Property Highlights:
Buffalo Block @ Historic Rex Building (fine dining area): 3,250 SF
Addition (bar/lounge): 3,194 SF
Basement: 3,250 SF (must be part of first floor sublease; not leasable as
standalone)
Total Rentable SF (main floor/basement): 6,444 SF
Second Floor: 3,250 SF
Third Floor: 3,250 SF
Landmark historic property with architectural prestige.
Liquor license concession available.
Prime downtown location ideal for dining, hospitality, catering, boutique office tenants, and residential use.
Additional parking available.
PROPERTY FACTS
Sale Type
Investment or Owner User
Property Type
Building Size
16,194 SF
Building Class
B
Year Built
1920
Price
$4,500,000
Price Per SF
$277.88
Percent Leased
Vacant
Tenancy
Multiple
Building Height
3 Stories
Building FAR
1.96
Lot Size
0.19 AC
Opportunity Zone
Yes
Zoning
CBD
PROPERTY TAXES
| Parcel Number | 03-0927-03-1-48-11-0000 | Improvements Assessment | $2,525,948 |
| Land Assessment | $90,052 | Total Assessment | $2,616,000 |
PROPERTY TAXES
Parcel Number
03-0927-03-1-48-11-0000
Land Assessment
$90,052
Improvements Assessment
$2,525,948
Total Assessment
$2,616,000
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