Overview

Description

This is a recent foreclosure and bank-owned property offered at a substantial discount to replacement costs. It was recently appraised at $3.8M as-is and $5.9M fully leased. The property is a three story, 34,026 square foot office building located at 1537 Avenue D, in Billings, Montana, 59102. The property was originally constructed in 1972, but has undergone a $3,000,000 renovation. This building is beautiful with high-end finishes, many windows and includes plenty of parking.

1537 Avenue D is located in Yellowstone County just 2 miles West of downtown Billings. The property is an attractive higher‐end office building in a good central location. The subject site is surrounded by commercial properties and located within a developed retail area just north of a regional shopping center. The site is conveniently situated one block from Grand Avenue, which is the main commercial artery that runs through Billings. The area is populated with big box stores, national retailers, small retail shops, service‐commercial stores and office uses. Locally, the office market has leveled off, with vacancy rates ranging from 5% to 10%.

This is a must see property!

Highlights

• Newly over-renovated building with high end finishes
• A prime location in the center of Billings
• Recent bank foreclosure opportunity
• Offered for sale below replacement cost
• Also available for lease
• Great opportunity for owner-user
• Fantastic upside for value-add investor

Documents

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