904 E Toy Storage St, Billings, MT for sale

Investment Overview

This fully leased three-bay shop building in Shop World offers dependable income in one of Billings’ most in-demand shop communities. Offered at $390,550, the 3,456 sq ft building is divided into three 24' x 48' bays of 1,152 sq ft each. Every unit has its own separately metered utilities. All three bays are currently leased at $750/month each, for $2,250 in monthly rent and $27,000 in gross annual income. Owner expenses are minimal: an annual HOA of $450 and property taxes of $1,046.80. Because each unit is individually metered, operating costs stay low and management is simple. Based on current rents, HOA, and taxes, the property offers a 6.53% cap rate. This figure excludes insurance, which will vary by buyer. Demand for shop space on Billings’ west end keeps growing, and well-located Shop World units rarely sit empty. This is a turnkey, low-maintenance investment with immediate cash flow. It also gives an owner-user the option to occupy one bay later while the remaining two help cover the costs.

Investment Highlights

• Offered at $390,550
• Fully leased: 100% occupied
• 3,456 sq ft building with three 24' x 48' bays (1,152 sq ft each)
• Individually metered utilities for each unit
• $750/month per unit, for $2,250/month and $27,000/year in gross income
• Annual HOA: $450
• Annual property taxes: $1,046.80
• 6.53% cap rate (excludes insurance, which varies by buyer)
• $113.01 per sq ft
• Located in Shop World, near 80th St W & King Ave W in west Billings
• Turnkey investment or owner-user opportunity