Listing Agency: The Front Agency Show Phone

Listed By: Jennifer Gruber

Source: Clearwaterproperties

Added: Jul 21 Changed: Aug 23 Last Checked: Aug 23 at 4:57AM

Report an Issue

Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of The Front Agency

Investment Insights

Based on property information with market context.

Izaak's Restaurant is being offered as a turnkey operation with a full all-beverage liquor and gaming license. The interior includes a full commercial kitchen, bar and dining area, and features a working 1910 wood stove and locally inspired aesthetic elements. The property is equipped for service with two walk-in coolers, a walk-in freezer, and all bar and dining furnishings. The outdoor setup includes a patio/deck with a stage for entertainment.

The restaurant sits on three parcels right on the main street near I-15, with adjacency to the Missouri River and views of the river. The location is described as surrounded by fishing lodges, cabins, and outfitter operations, supporting its role as a community dining and social hub for anglers and guides.

The land is designated with Farm Bill status and includes two greenhouses, one of which is heated. Included are recipes and brand materials intended to support continuity of the menu and operations, with an emphasis on farm-to-table cultivation using greenhouse produce.

Key Highlights

• Izaak’s Restaurant in Craig, MT with a Full All‑Beverage Liquor & Gaming License for state‑regulated gaming machines
• 3 lots adjacent to the Missouri River with river views, near fishing lodges, cabins, and outfitter operations
• Fully equipped for high‑volume service, including two walk‑in coolers, a walk‑in freezer, and a full commercial kitchen

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

$40,018

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

3.64%

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%

$800,360 $800.4K

Cap Rate 7%

$571,686 $571.7K

Cap Rate 9%

$444,644 $444.6K

Market Conditions

NOI Build-Up for 3,056 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

$55.0K $18.00/SF

− Vacancy

−$1.7K −$0.54/SF

EGI

$53.4K $17.46/SF

− OpEx

−$13.3K −$4.37/SF

NOI

$40.0K $13.10/SF

Area

Lewis and Clark County, MT

Vacancy

3.00%

Lease Rate

$18.00 /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%

$800,360

Cap Rate 7%

$571,686

Cap Rate 9%

$444,644

Alternative Uses

Best Use

Specialty Retail

$571.7K

$500.2K – $667.0K (±1% cap)

NOI $40,018 @ 7.0% cap · market cap 3.64%

Second Best

Hotel Hospitality

$264.4K

$231.4K – $308.5K (±1% cap)

NOI $18,508 @ 7.0% cap · market cap 1.68%

Theoretical Best

Office A

$663.9K

$580.9K – $774.5K (±1% cap)

NOI $46,471 @ 7.0% cap · market cap 4.22%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Current Use

Izaak's Restaurant Bar & Pub

Suggested Use

Top Pick (Bike/Boat/Book/etc) Store Auto Repair Shop Gym & Fitness Center Travel Agency Law Firm Bed & Breakfast

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

Turnkey business

Opportunity

Yes

Highway access

Yes

Paved road access

Yes

Liquor license

Location Intelligence

Trade Area within ½ mile

40

Businesses Nearby

Well-served

Demand for This Use

Explore this area Business Placement

Demographics for 59648, MT

618

Population

576

Households

1.1

Avg Household Size

58

Median Age

20%

College-Educated

98%

High-School Grad

705.0 sq mi

ZIP Area

1

Density / Sq Mi

$68,542

Median Household Income

$39,009

Median Earnings

$957

Median Rent

$321,400

Median Home Value

Market

Vacancy Rate% for Retail in West region

7% 2020

6.3% 2021

5.5% 2022

5.3% 2023

5.5% 2024

5.8% 2025

Questions? Ask Rey

Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.

What type of property is this? Where is this conventional restaurants located? What is the asking price? Find similar properties ... What are key features of this property?

Ask Rey about this property ...

Frequently Asked Questions

What type of property is this?

Conventional restaurant - Fully equipped restaurant on multiple parcels near the Missouri River, with a full all-beverage liquor and gaming license.

Where is this conventional restaurant located?

The property is located at 105 Bridge Craig, MT.

What is the asking price?

The asking price for this property is $1,100,000.

What are key features of this property?

This property features: Izaak’s Restaurant in Craig, MT with a Full All‑Beverage Liquor & Gaming License for state‑regulated gaming machines; 3 lots adjacent to the Missouri River with river views, near fishing lodges, cabins, and outfitter operations; Fully equipped for high‑volume service, including two walk‑in coolers, a walk‑in freezer, and a full commercial kitchen