2 Buildings Totaling 59,050 SF For Sale in Laurel

410 Colorado Ave Billings, MT 59044

Billings
FOR SALE
Property Type:
MultiFamily Apartments
Amount:
$1,180,000
Cap Rate:
0.00%
Last Verified:
Sep 15, 2023

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*For Sale $1,180,000 ($20 PSF) *2 Buildings Totaling 59,050 SF *Currently Occupied by the Laurel Public Schools *School is 50,454 SF *Auditorium is 7,900 SF *90,000 SF Lot *Zoned Residential 6000 *Built in 1910 *Ideal Multifamily Redevelopment Opportunity 410 Colorado Avenue is located in the heart of Laurel, MT and is the perfect multifamily or residential condo redevelopment project. Listed at $20 PSF, a buyer has the opportunity to purchase land and building “shell” for significantly less than what new construction costs today. The City of Laurel is rapidly growing and currently has a shortage of apartment rentals or condos. Laurel Public Schools current occupies a small portion of the building and would need to work out an exit strategy or short term lease back with a potential buyer.

Additional URLs

Map of 410 Colorado Ave, Billings, MT, 59044

What are Real Estate Incentives?

Real Estate incentives range widely and have been overlooked by the Commercial Multiple Listing Services (MLS) for decades. Real estate incentives is a generic term used to group any number of programs, such as tax incentives, that are designated by an agency for a geographic area."

Why are Real Estate Incentives Important and to Whom?

"Incentives" are vital today and in the future because:

  • U.S. Public: Many incentives focus on job creation and Affordable Housing
  • Investors and Commercial Developers use incentives to reduce financial risk, obtain gap financing, etc. Investors and developers look for property listings with incentives available.
  • Commercial Real Estate Brokers, in mass, unfortunately do not know about incentives tied to their listings
  • Entire Supply Chain of Real Estate Development such as small and large companies who will provide goods and services to new and revitalized properties.