Renovated Historic Restaurant
104 S Broadway Avenue, Red Lodge, MT 59068
For Sale
$749,999
CommercialSale, Red Lodge, MT
Property Size3,050 SF
Price / SF$245.90
Days on Market124
Property Features for 104 S Broadway Avenue
General Information
Property type
Property subtype
Subdivision
Lot features
Directions
Standard status
APN
Size
Taxes and HOA fees
Tax Description
Tax Annual Amount
Legal Description
Utilities
Sewer type
Heating system
Cooling system
Water source
Building Details
Year built
Floors in Building
Architectural style
Listing Agency:
Montana Mountain Real Estate
Listed By:
Suzanne Hahn · License #353925
(406) 223-8238
Added: Jul 9
Changed: Oct 20
Last Checked: Nov 9 at 5:06AM
MLS# 357237
Copyright © 2026 Billings Association of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
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Investment Insights
Based on property information with market context.
This 3050-square-foot restaurant occupies a historic building constructed in 1900 and recently renovated. The property retains elements of its earlier identity as a bakery, a use that continued for approximately 100 years before the current restaurant operation. Interior improvements are supported by central air conditioning, forced-air heating, and natural gas service.
The property is located at 104 S Broadway Avenue in Red Lodge, Montana, within the community center and outside Yellowstone Park. Public water and public sewer serve the building, providing established utility infrastructure for the commercial use.
The property is located at 104 S Broadway Avenue in Red Lodge, Montana, within the community center and outside Yellowstone Park. Public water and public sewer serve the building, providing established utility infrastructure for the commercial use.
Key Highlights
- 3050‑square‑foot restaurant property in Red Lodge
- Historic building constructed in 1900 and recently renovated
- Former bakery use continued for approximately 100 years
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$36,316
Cap Rate
4.84%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$726,320
$726.3K
Cap Rate 7%
$518,800
$518.8K
Cap Rate 9%
$403,511
$403.5K
Market Conditions
NOI Build-Up for 3,050 SF
Gross rent
$49.4K $16.20/SF
− Vacancy
−$988 −$0.32/SF
EGI
$48.4K $15.88/SF
− OpEx
−$12.1K −$3.97/SF
NOI
$36.3K $11.91/SF
Area
Carbon County, MT
Vacancy
2.00%
Lease Rate
$16.20 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$726,320
Cap Rate 7%
$518,800
Cap Rate 9%
$403,511
Alternative Uses
Best Use
Specialty Retail
$518.8K
$454.0K – $605.3K
NOI $36,316 @ 7.0% cap · market cap 4.84%
Second Best
Retail
$446.1K
$390.3K – $520.4K
NOI $31,224 @ 7.0% cap · market cap 4.16%
Theoretical Best
Office A
$665.5K
$582.3K – $776.4K
NOI $46,584 @ 7.0% cap · market cap 6.21%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
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Current Use
Lease Details
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
471
Businesses Nearby
19k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Groceries 55%
Home Improvements & Furnishings 40%
Dining 5%
Beartooth Iga
Groceries
10,322 visits/mo
0.3 miles
Red Lodge Ace Hardware
Home Improvements & Furnishings
4,763 visits/mo
0.2 miles
Red Lodge Jewelers
Home Improvements & Furnishings
2,672 visits/mo
0.1 miles
China Garden
Dining
890 visits/mo
0.1 miles
Demographics for 59068, MT
3,670
Population
2,967
Households
1.2
Avg Household Size
52
Median Age
47%
College-Educated
99%
High-School Grad
520.9 sq mi
ZIP Area
7
Density / Sq Mi
$63,704
Median Household Income
$33,293
Median Earnings
$795
Median Rent
$413,900
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in West region
Frequently Asked Questions
What type of property is this?
Conventional restaurant - Restaurant property with central air, forced-air heating, and public water and sewer service.
Where is this conventional restaurant located?
The property is located at 104 S Broadway Avenue Red Lodge, MT.
What is the asking price?
The asking price for this property is $749,999.
What are key features of this property?
This property features: 3050‑square‑foot restaurant property in Red Lodge; Historic building constructed in 1900 and recently renovated; Former bakery use continued for approximately 100 years
