1640 Lockwood road - 1640 Lockwood Rd, Billings, MT 59101

PROPERTY OVERVIEW
Property is located in industrial area with good highway access and exposure. Lot
line to be surveyed and recorded prior to closing.
National tenant currently occupies the space ending Feb 28th, 2022, with 12
month extension. Lease rate is $8.83 SF Single Net currently. (NNN in 2020 is
approximately $1.61 SF/YR)
Current Cap rate of 6% to be determined with 89,016 Gross rents.
National tenant pays $7418 Month + Utilities
Current expenses are spread across two buildings and are approximately
$22,125 year for 1640 Lockwood rd.
Property is also listed for lease at 8 SF BASE, $1.61 SF NNN. $8072.40 Month +
utilities.
*** Sale price at $1,075,200 with listed lease rate shall achieve 7.5% cap rate.
NOTE: Seller may prefer Owner financing via Trust Indenture - 25% down, 5.5%
interest, 20 year amortization, 5-7 year balloon.
PROPERTY HIGHLIGHTS
Utilities : Lockwood Public ( MDU, NWE)
Heat : 6 Gas furnaces throughout / HVAC Air Conditioning in Offices
Roof: 60 MIL TPO Membrane roof replaced in 2018 with Warranty