2 Buildings Totaling 59,050 SF For Sale in Laurel

410 Colorado Ave Billings, MT 59044

Property Type:
MultiFamily Apartments
Cap Rate:
Last Verified:
Sep 15, 2023

*For Sale $1,180,000 ($20 PSF) *2 Buildings Totaling 59,050 SF *Currently Occupied by the Laurel Public Schools *School is 50,454 SF *Auditorium is 7,900 SF *90,000 SF Lot *Zoned Residential 6000 *Built in 1910 *Ideal Multifamily Redevelopment Opportunity 410 Colorado Avenue is located in the heart of Laurel, MT and is the perfect multifamily or residential condo redevelopment project. Listed at $20 PSF, a buyer has the opportunity to purchase land and building “shell” for significantly less than what new construction costs today. The City of Laurel is rapidly growing and currently has a shortage of apartment rentals or condos. Laurel Public Schools current occupies a small portion of the building and would need to work out an exit strategy or short term lease back with a potential buyer.

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Map of 410 Colorado Ave, Billings, MT, 59044

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What are Real Estate Incentives?

Real Estate incentives range widely and have been overlooked by the Commercial Multiple Listing Services (MLS) for decades. Real estate incentives is a generic term used to group any number of programs, such as tax incentives, that are designated by an agency for a geographic area."

Why are Real Estate Incentives Important and to Whom?

"Incentives" are vital today and in the future because:

  • U.S. Public: Many incentives focus on job creation and Affordable Housing
  • Investors and Commercial Developers use incentives to reduce financial risk, obtain gap financing, etc. Investors and developers look for property listings with incentives available.
  • Commercial Real Estate Brokers, in mass, unfortunately do not know about incentives tied to their listings
  • Entire Supply Chain of Real Estate Development such as small and large companies who will provide goods and services to new and revitalized properties.