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19751307
19751308

2929 3rd Ave N, Billings, MT 59101

NM
MT RRE-BRO-LIC-69991
Coldwell Banker Commercial CBS
Coldwell Banker Commercial CBS
Listed by Coldwell Banker Commercial CBS
$5,900,000
651 days on market
Updated 15 days ago
Opportunity zone

2929 3rd Ave N

Details
Property Type Retail, Office
Sub Type Bank, Traditional Office
Square Footage 63,062
Cap Rate 6.79%
NOI $400,895
Occupancy 61%
Tenancy Multi
Class A
Year Built 1978
Year Renovated 2005
Lot Size (SqFt) 42,000
Zoning CBD Central Business District
Ground Lease No

63,062 SF 5 Story Office Building

Marketing description

- 2929 3rd Ave N, Billings, MT 59101

- Former Rocky Mountain Bank Building for Sale

- For Sale $5,900,000

- 63,062 SF, 5 Story Office Building

- 42,000 SF Lot – ½ Block Downtown Billings

- 3 Lane Drive Through Lane Ideal for Bank, Pharmacy or Restaurant

- Vacancies on Floor 1 (Drive Through) & Floor 2 Ideal for Owner Occupied Tenant

- Floors 2-5 Rented – Government Tenants, Law Office & General Office User

- Excellent Signage Opportunity Exterior of 5 Story Office Building

- Owner-user or investor play: occupy a suite and let the building pay for itself or lease the vacancies for above-average returns

- Financials and Rent Roll Available with Signed NDA

- Cap Rate - 6.78%

- NOI - $400,895

2929 3rd Ave N is one of Downtown Billings cornerstone 5 story office towers that was previously occupied by Rocky Mountain Bank and perfectly set up for an owner/user that would benefit from the hard to come by downtown drive through.

Boasting close to one acre of land which includes a generous parking lot, opportunities are endless to purchase as an investment property, add additional buildings with parking garage or operate in its current condition.

2929 3rd Ave N is located both in an opportunity zone and downtown TIF district – additional resources available upon request.

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Listing Contacts

NM
MT RRE-BRO-LIC-69991
Coldwell Banker Commercial CBS
Coldwell Banker Commercial CBS
Listed by Coldwell Banker Commercial CBS

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Loan Amount
$0.00
Annual Debt Service
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Annual Cash Flow
$400,895.00
$33,407.92/mo

Valuation Metrics

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DSCR
6.79%
Cap Rate
6.79%
ROI

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Additional Information

Name
Nathan Matelich, SIOR, CCIM
License
RRE-BRO-LIC-69991
Brokerage
Coldwell Banker Commercial
*All information is deemed reliable but not guaranteed. Buyer to verify all information.
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