Historic Bar & Cafe with Liquor
For Sale
$3,900,000
337 N Higgins Avenue, Missoula, MT 59802
COMMERCIAL - Missoula, MT
Property Size8,800 SF
Lot Size0.12 Acres
Price / SF$443.18
Days on Market62
Property Features for 337 N Higgins Avenue
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
Commercial
Zoning description
CBD-4
Rooms
Basement
Directions
Downtown on the corner of Higgins and Pine
Standard status
Active
APN
04220022233110000
Lot size
0.12 Acres
Utilities
Heating system
Forced Air
Amenities
private poker room
dedicated office space
separate entrance
storage basements
high ceilings
sweeping views
Building Details
Year built
1910
Building materials
Brick
Roof type
Rubber
Listing Agency:
PureWest Real Estate - Missoula
(406) 541-4000
Listed By:
Jennifer Cooney · License #RRE-RBS-LIC-38418
(406) 396-5544
Added: Jun 9
Changed: Aug 9
Last Checked: Aug 9 at 7:06PM
MLS# 30072719
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.
Investment Insights
Based on property information with market context.
The Legendary Oxford Bar & Cafe is a historic brick bar and restaurant building built in 1910 on a downtown corner lot. The first floor is fully equipped and includes a bar and restaurant, a private poker room, and a dedicated office space. The property also has three basements for storage or other potential uses.
An unfinished second floor offers high ceilings and sweeping views of M-Mountain, providing flexibility for conversion into office suites, event space, or other concepts. Separate unused Pine Street entrance provides independent access, which may support multi-tenant use or a second concept.
The building is heated by forced air. The sale includes all FF&E (furniture, fixtures, and equipment) plus a Montana all-beverage liquor license with gaming.
An unfinished second floor offers high ceilings and sweeping views of M-Mountain, providing flexibility for conversion into office suites, event space, or other concepts. Separate unused Pine Street entrance provides independent access, which may support multi-tenant use or a second concept.
The building is heated by forced air. The sale includes all FF&E (furniture, fixtures, and equipment) plus a Montana all-beverage liquor license with gaming.
Key Highlights
- Montana all‑beverage liquor license with gaming included
- ~8,800 SF brick bar and restaurant building built in 1910
- Private poker room plus dedicated office space on the first floor
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$177,606
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
4.55%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$3,552,120
$3.6M
Cap Rate 7%
$2,537,229
$2.5M
Cap Rate 9%
$1,973,400
$2.0M
Market Conditions
NOI Build-Up for 8,800 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$242.9K $27.60/SF
− Vacancy
−$6.1K −$0.69/SF
EGI
$236.8K $26.91/SF
− OpEx
−$59.2K −$6.73/SF
NOI
$177.6K $20.18/SF
Area
Missoula County, MT
Vacancy
2.50%
Lease Rate
$27.60 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$3,552,120
Cap Rate 7%
$2,537,229
Cap Rate 9%
$1,973,400
Alternative Uses
Best Use
Specialty Retail
$2.54M
$2.22M – $2.96M
NOI $177,606 @ 7.0% cap · market cap 4.55%
Second Best
—
—
no second resolved use
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Turnkey business
Opportunity
Yes
Liquor license
Location Intelligence
Trade Area within ½ mile
3,241
Businesses Nearby
86k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 45%
Hotels & Casinos 33%
Shops & Services 19%
Electronics 2%
McDonald's
Dining
14,133 visits/mo
0.5 miles
Residence Inn by Marriott Missoula Downtown
Hotels & Casinos
14,080 visits/mo
0.1 miles
Taco Bell
Dining
13,861 visits/mo
0.4 miles
DoubleTree by Hilton Hotel Missoula - Edgewater
Hotels & Casinos
8,439 visits/mo
0.5 miles
Burger King
Dining
6,515 visits/mo
0.5 miles
Demographics for 59802, MT
19,892
Population
10,416
Households
1.9
Avg Household Size
37
Median Age
52%
College-Educated
96%
High-School Grad
45.4 sq mi
ZIP Area
438
Density / Sq Mi
$65,054
Median Household Income
$36,541
Median Earnings
$1,021
Median Rent
$420,200
Median Home Value
Market
Vacancy Rate% for Retail in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Starbucks — 1003 E Broadway St, Missoula, MT 59802
- Grizzly Espresso — S Van Buren Ave, Missoula, MT 59812
- Myrtle Street Taps — 602 Myrtle St, Missoula, MT 59801
- Flippers Tavern ~ Grill ~ Casino — 125 S 3rd St W, Missoula, MT 59801
- GILD — 515 S Higgins Ave, Missoula, MT 59801
Frequently Asked Questions
What type of property is this?
Bar & Pub - Commercial-zoned brick bar and cafe with a fully equipped first floor, forced-air heating, and Montana all-beverage liquor license with gaming.
Where is this bar & pub located?
The property is located at 337 N Higgins Avenue Missoula, MT.
What is the asking price?
The asking price for this property is $3,900,000.
What are key features of this property?
This property features: Montana all‑beverage liquor license with gaming included; ~8,800 SF brick bar and restaurant building built in 1910; Private poker room plus dedicated office space on the first floor
