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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 $815,000 ($68 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 this reduced price, this is your opportunity to buy a retail center at a price the gives an investor/developer tremendous upside.
PRICE REDUCED $815,000 ($68 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 this reduced price, 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
$1,114,292 CAD
Price Per SF
$92.86 CAD
Cap Rate
8.82%
NOI
$98,331 CAD
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 | $638,892 CAD |
| Land Assessment | $306,411 CAD | Total Assessment | $945,303 CAD |
Property Taxes
Parcel Number
03-0927-08-2-25-17-0000
Land Assessment
$306,411 CAD
Improvements Assessment
$638,892 CAD
Total Assessment
$945,303 CAD
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