1238 Central Ave

• 1238 Central Ave, Billings, MT
• 4 Tenant Retail Center for Sale
• PRICE REDUCED $815,000 ($68 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 this reduced price, this is your opportunity to buy a retail center at a price the gives an investor/developer tremendous upside.