2220 Grant Rd
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2220 Grant Rd
25,825 SF 15% Leased Office Building Billings, MT 59102 $4,150,000 ($161/SF) 6.97% Cap Rate
Investment Highlights
- Great upside opportunity
Executive Summary
Seize the opportunity to own a premier office building in the highly sought-after Homestead Business Park, located in the west end of Billings, MT. This property is perfectly positioned for businesses seeking convenience and modern amenities.
Property Features:
• Total Area: 25,825 square feet of versatile office space.
• Main Level: 13,000 square feet, fully remodeled in 2022, featuring three sets of bathrooms, one equipped with showers.
• Second Floor: 11,200 square feet with a newly installed elevator (2023) and an additional set of bathrooms.
• Basement: 1,625 square feet of secured storage space, ideal for safeguarding important documents and equipment.
• Parking: Approximately 80 parking spots available, providing ample space for employees and visitors.
Location Advantages:
• Strategic Positioning: Easy access to Interstate US 90, facilitating a quick commute to all parts of Billings.
• Convenient Amenities: Within walking distance to several restaurants, coffee shops, banks, and retail stores, enhancing the work-life balance for your team.
This office building offers a blend of modern updates, extensive space, and a prime location, making it the perfect investment for growing businesses.
Property Features:
• Total Area: 25,825 square feet of versatile office space.
• Main Level: 13,000 square feet, fully remodeled in 2022, featuring three sets of bathrooms, one equipped with showers.
• Second Floor: 11,200 square feet with a newly installed elevator (2023) and an additional set of bathrooms.
• Basement: 1,625 square feet of secured storage space, ideal for safeguarding important documents and equipment.
• Parking: Approximately 80 parking spots available, providing ample space for employees and visitors.
Location Advantages:
• Strategic Positioning: Easy access to Interstate US 90, facilitating a quick commute to all parts of Billings.
• Convenient Amenities: Within walking distance to several restaurants, coffee shops, banks, and retail stores, enhancing the work-life balance for your team.
This office building offers a blend of modern updates, extensive space, and a prime location, making it the perfect investment for growing businesses.
Financial Summary (Actual - 2023) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$336,559
|
$13.03
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$336,559
|
$13.03
|
| Taxes |
$37,373
|
$1.45
|
| Operating Expenses |
$10,000
|
$0.39
|
| Total Expenses |
$47,373
|
$1.83
|
| Net Operating Income |
$289,186
|
$11.20
|
Financial Summary (Actual - 2023)
| Gross Rental Income | |
|---|---|
| Annual | $336,559 |
| Annual Per SF | $13.03 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $336,559 |
| Annual Per SF | $13.03 |
| Taxes | |
|---|---|
| Annual | $37,373 |
| Annual Per SF | $1.45 |
| Operating Expenses | |
|---|---|
| Annual | $10,000 |
| Annual Per SF | $0.39 |
| Total Expenses | |
|---|---|
| Annual | $47,373 |
| Annual Per SF | $1.83 |
| Net Operating Income | |
|---|---|
| Annual | $289,186 |
| Annual Per SF | $11.20 |
Property Facts
Sale Type
Investment or Owner User
Property Type
Office
Building Size
25,825 SF
Building Class
B
Year Built/Renovated
1986/1999
Price
$4,150,000
Price Per SF
$161
Cap Rate
6.97%
NOI
$289,186
Percent Leased
15%
Tenancy
Multiple
Building Height
2 Stories
Typical Floor Size
12,912 SF
Building FAR
0.39
Lot Size
1.52 AC
Zoning
CMU2 - CMU2-Corridor Mixed Use 2
Parking
81 Spaces (3.1 Spaces per 1,000 SF Leased)
Amenities
- Controlled Access
- Conferencing Facility
- Wheelchair Accessible
- Air Conditioning
Space Availability
- Space
- Size
- Space Use
- Condition
- Available
- 2nd Floor
- 11,000 SF
- Office
- -
- Now
| Space | Size | Space Use | Condition | Available |
| 2nd Floor | 11,000 SF | Office | - | Now |
2nd Floor
| Size |
| 11,000 SF |
| Space Use |
| Office |
| Condition |
| - |
| Available |
| Now |
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PROPERTY TAXES
| Parcel Number | 03-0927-18-2-06-08-0000 | Total Assessment | $3,800,700 (2024) |
| Land Assessment | $476,267 (2024) | Annual Taxes | $37,373 ($1.45/SF) |
| Improvements Assessment | $3,324,433 (2024) | Tax Year | 2023 |
PROPERTY TAXES
Parcel Number
03-0927-18-2-06-08-0000
Land Assessment
$476,267 (2024)
Improvements Assessment
$3,324,433 (2024)
Total Assessment
$3,800,700 (2024)
Annual Taxes
$37,373 ($1.45/SF)
Tax Year
2023
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2220 Grant Rd
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