1238 Central Ave
Billings, MT 59102
Curves · Commerce de détail Propriété À vendre

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.