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    102 Ben Hogan Dr Missoula, MT 59803

    View on Map
    Sponsored
    For Sale
    $6,990,000

    COMMERCIAL - Missoula, MT

    Lot size:
    64.38 Acres
    Days on Market:
    82
    Last Refresh:
    Mar 22 at 3:06 pm

    Property Features for 102 Ben Hogan Dr

    General Information

    Special listing conditions
    Standard
    Property type
    Commercial Sale
    Property subtype
    Other
    TransactionType
    Standard
    Standard status
    Active
    Security features
    Security
    Zoning
    Commercial
    Rooms
    Basement
    APN
    04209304216030000
    Parking
    110
    Parking features
    Driveway, Garage
    Patio and Porch features
    Patio
    Interior features
    BeamedCeilings, EntranceFoyer
    Lot size
    64.38 Acres

    Utilities

    Heating system
    Forced Air, Other (Heating)

    Building Details

    Year built
    1992

    We can help!

    Listing Contact
    Devin Khoury
    Devin Khoury

    PureWest Real Estate

    Listing agent Devin Khoury License #RRE-BRO-LIC-14766

    Listing date Dec 30, 2025

    MLS# 30038708

    Copyright © 2026 Montana Regional MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    Restaurant and Golf Course Opportunity

    This property in Missoula, Montana, features a fine dining restaurant and golf course. Locally owned and operated, The Keep Restaurant and Highlands Golf Course is a community staple. The property spans almost 65 acres, offering room for outbuildings or expansion. Undeveloped land pockets allow building rentals for additional income or employee housing. Nearby trails and outdoor pathways connect the restaurant to the adjacent golf course. The Keep restaurant features gourmet cuisine and a warm atmosphere, with locally sourced ingredients. It serves as a venue for weddings, events, and gatherings, with indoor and outdoor seating that takes advantage of the views. The restaurant and golf shop design embraces its natural surroundings, featuring large windows and an open-air patio. An All-beverage liquor license offers the opportunity to increase revenue with gaming, hosting weddings, or other catering events. The meticulously maintained golf course is suited for golfers of all levels. The property has scenic mountain views from both the restaurant and golf course. It is a turnkey operation with established clientele and a strong local reputation, with potential for expansion and growth in the dining and recreational aspects. The property is zoned commercial.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    The Keep Restaurant Restaurant Highlands Golf Club Golf Course

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Missoula
    County
    Missoula
    State
    Montana
    Longitude
    -114.0023342
    Latitude
    46.825984

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    FAQs

    What type of property is this?
    Golf course & driving range - Missoula restaurant and golf course on almost 65 acres.
    Where is this golf course & driving range located?
    The property is located at 102 Ben Hogan Dr Missoula, MT.
    What is the asking price?
    The asking price for this property is $6,990,000.
    What are key features of this property?
    This property features: - Rare opportunity to own a well-established and locally beloved fine dining restaurant and golf course.; - Almost 65 acres of land with potential for expansion, outbuildings, rentals, or employee housing.; - Turnkey operation with established clientele, strong local reputation, and multiple revenue streams (restaurant, golf course, events).
    (406) 207-8200
    Request Owner's contact information
    102 Ben Hogan Dr Missoula, MT 59803
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    Missoula, MT 59803
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    102 Ben Hogan Dr Missoula, MT 59803
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    We can help!
    Listing Contact
    Devin Khoury
    Devin Khoury
    Real Estate License ID: 14766
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