222 N 18th St - Billings Brownstones
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222 N 18th St - Billings Brownstones
0.43 Acres of Commercial Land Offered at $799,000 in Billings, MT 59101
Executive Summary
https://property.creop.com/41585
Introducing Billings Brownstones, a prime 22-unit townhome development strategically situated in the heart of the East Billings Urban Renewal District. This shovel-ready project presents an exceptional build-to-rent opportunity, with an estimated total project cost of $5.2 million. Anticipated to generate a Gross Annual Income of approximately $425,160.
This development has received preliminary approval for a Tax Increment Financing (TIF) allocation of $540,000.
Billings is on track to recover after rising swiftly over the past two years due to the impacts of new construction. Over the past year, renter households absorbed 480 units, bringing vacancy lower. One year ago, the overall vacancy rate was 10.0%, and it now sits at 8.3%
Introducing Billings Brownstones, a prime 22-unit townhome development strategically situated in the heart of the East Billings Urban Renewal District. This shovel-ready project presents an exceptional build-to-rent opportunity, with an estimated total project cost of $5.2 million. Anticipated to generate a Gross Annual Income of approximately $425,160.
This development has received preliminary approval for a Tax Increment Financing (TIF) allocation of $540,000.
Billings is on track to recover after rising swiftly over the past two years due to the impacts of new construction. Over the past year, renter households absorbed 480 units, bringing vacancy lower. One year ago, the overall vacancy rate was 10.0%, and it now sits at 8.3%
Data Room Click Here to Access
- Offering Memorandum
Property Facts
| Price | $799,000 | Property Type | Land |
| Sale Type | Investment | Property Subtype | Commercial |
| No. Lots | 1 | Total Lot Size | 0.43 AC |
| Price | $799,000 |
| Sale Type | Investment |
| No. Lots | 1 |
| Property Type | Land |
| Property Subtype | Commercial |
| Total Lot Size | 0.43 AC |
1 Lot Available
Lot
| Price | $799,000 | Lot Size | 0.43 AC |
| Price Per AC | $1,858,140 |
| Price | $799,000 |
| Price Per AC | $1,858,140 |
| Lot Size | 0.43 AC |
Billings Brownstones: a prime 22-unit townhome development in the East Billings Urban Renewal District. This shovel-ready project offers great investment potential with possible TIF support, blending modern living with urban convenience.
-
Thomas Lewis -
Ardor Commercial Advisors
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