- Multi-Tenant Retail Investment Property

- 5.8% Current Cap Rate

- 6.75% Pro Forma Cap Rate @ 100% Occupancy

- 6.9% Pro Forma Cap Rate @ 100% Occupancy Once CAM is Reconciled in 2027

- Triple Net Leases

- 5 Separate Units, 4 Occupied

- Built in 2006

- 7,680 SF Retail Building

- 0.73 Acre Lot

- Zoned CMU1-Corridor Mixed Use 1

- Pride of Ownership = Very Little Deferred Maintenance

- NOTE: Please Do No Contact Tenants, Showings by Appointment Only

3429 Central Ave is a 7,680 SF multi-tenant retail center in Billings' growing West End, offering investors in-place cash flow with built-in upside. Four of the five suites are leased (83% occupied) on triple-net terms to an established mix of restaurant, personal-service and professional-service tenants, anchored by a well-known Japanese steakhouse. The remaining 1,283 SF suite is available, giving a buyer an immediate opportunity to add income through lease-up. The landlord increased CAM recovery by $4,300 in 2026, and there is room to bring reimbursements closer to actual operating costs. Built in 2006, the center sits on Central Avenue, a primary east-west route through the West End, with strong street visibility, a large pylon sign and easy access from the surrounding neighborhoods. Contact the listing broker and sign an NDA for the rent roll, lease abstracts and financial details.