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$899,000 / 12000ft2 - 12,000 SF 4 Tenant Retail Center for Sale on Central Ave (Billings)
1238 Central Ave, Billings, MT 59101
1238 Central Ave
12000ft2
QR Code Link to This Post
4 Tenant Retail Center
For Sale $899,000 ($75 PSF)
12,000 SF Building
33,000 SF Lot
Large Pylon Sign
Built 1966, Numerous Capital Improvements 2020-2025
Cash Flowing with Current Rents Way Below Market
Ideal Redevelopment Opportunity (Storefront Modernization & Light Interior Remodel)
After Renovation Value is $1,800,000 to $2,100,000 Based on $12-14 NNN Lease Rates and 8% Cap Rate
Financials & Leases Available Upon Request
Tenants:
Sip & Paint – 3,500SF
Contractor – 1,500 SF
Smoker Friendly – 1,500 SF
Everlasting Church – 5,500 SF
Major Improvements:
2020: New roof; New Heater Unit for Sip and Paint.
2021: New Main Sewer Line to the Building; New roof top AC unit for Everlasting Church.
2022: New Rooftop AC Unit for Sip and Paint; Sealed and Striped Parking Lot.
2023: New Gutters; New Commercial Exterior Door for Everlasting Church; Painted Exterior of the Building (Front Side).
2024: New Garage Heater for 1242 Central Avenue
2025: New Gravel in the Alley to Help with Mud, Drainage, Etc.
Are you a contractor, real estate investor or developer looking for your next project? Do you like projects where all of the major capital improvements & infrastructure repairs have already been done and you get to focus on the fun design parts of redevelopment? If so, THIS PROJECT IS FOR YOU! This retail center is a great mix of long term tenants and month to month leases giving you maximum flexibility to enjoy cashflow while you do the storefront modernization. At only $75 PSF, this is your opportunity to buy a retail center at a price the gives an investor/developer tremendous upside.
Contact:
Nathan Matelich
Coldwell Banker Commercial
Cell: 406-781-6889