INVESTMENT HIGHLIGHTS
VALUE-ADD OR OWNER/USER OPPORTUNITY
The Tenant currently operates on a short-term lease, with below market rents, and no options to extend. This provides an investor a near-term value-add opportunity to reposition the property at market rent while collecting income or allows an Owner/User to quickly occupy the Property.
AAA HIGH TRAFFIC LOCATION WITH VISIBILITY TO OVER 56,000 VPD
The Property is located on the signalized hard-corner of Main St. (Hwy 87) and Airport Rd. with excellent exposure and high visibility to a combined 56,000+ VPD. The Property benefits from multiple ingress/egress points, left turn access and a large corner pylon signage.
STRONG RETAIL CORRIDOR
The Property benefits from being surrounded by large national tenants such as Target, Albertsons, Tractor Supply Co., and CVS; located across the street from multiple hotels; and close to MetraPark – First Interstate Arena.
LOW VACANCY (1.6%) MARKET WITH STRONG RENT GROWTH (6.2%)
The Billings MSA currently boasts a 1.6% retail vacancy rate and rents have increased a cumulative 6.2% over the past three years, per CoStar.
VALUE-ADD OR OWNER/USER OPPORTUNITY
At closing the Seller will sign a 1-year lease for Suite 4007, providing an Investor time to find a long-term tenant while collecting income. Alternatively, an Owner/User could occupy this space immediately, without the Seller lease.
FLEXIBLE ZONING
The Property is zoned CMU1 (Corridor Mixed-Use 1) which permits numerous commercial uses including retail, office, and mixed uses. An investor has the flexibility to maintain the current restaurant use or convert the property to nearly any other use. This also allows Owner/Users from any business sector the opportunity to move their business into this premier location.
AFFLUENT, HIGH POPULATION GROWTH MARKET
Within a 5-mile radius, the population has grown nearly 7% since 2010 and is projected to increase by 10% in the next 5 years, with average household incomes exceeding $75,000. Within a 1-mile radius, the population has grown by more than 18% since 2010.
BRAND NEW ROOF INSTALLED IN 2019
The Property features a new roof and membrane that were installed in 2019.
LARGE 0.86 ACRE LOT WITH AMPLE PARKING
The Property features a 0.86-acre lot with 58 parking stalls, providing adequate parking for numerous business uses.
NET LEASED LEASE STRUCTURE
Tippy Cow operates on a Triple Net (NNN) lease structure with minimal landlord management & repair responsibilities providing an investor nearly passive income throughout the remaining lease term.
Listing Agents:
CLAYTON J. BROWN
