State of Montana -- Office of Public Assistance

111 North 31st Street Billings, MT 59101

111 North 31st Street, Billings, MT, 59101
111 North 31st Street, Billings, MT, 59101
FOR SALE
Property Type:
Multi Tenant Office
Amount:
$1,425,000
Last Verified:
Oct 28, 2020

Highlights

  • -State of Montana Lease through June 30, 2028
  • -Current Gross Rents $183, 861 annually, bumps by approx $14,466 per year in 2023
  • -2019 NOI $99,669
  • -Year one 7.0% Cap Rate

Description

Offered for sale is a downtown office building primarily leased by the State of Montana's Office of Public Assistance. The OPA completed approximately $250,000 in remodeling in 2016 when they signed a new 12 year lease. This property has been the home of the OPA for in excess of 25 years.

Downtown Billings at the intersection of 31st Street and 1st Avenue North. Located in an OPPORTUNITY ZONE.


Year Built: 1947
Building Size: 20922.0sq ft
Building Class: B
Lot Size: 0.48 acres

Map of 111 North 31st Street, Billings, MT, 59101

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