Restaurant Building with
For Sale
$1,850,000
114 E Main, Manhattan, MT 59741
CommercialSale, Manhattan, MT
Property Size6,200 SF
Lot Size0.15 Acres
Price / SF$298.39
Days on Market83
Property Features for 114 E Main
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
C
Directions
Take Exit 288 to Manhattan. Head North on Broadway. Take a right on Main Street. Property is on the right, in the downtown business district.
Subdivision
4MC - Manhattan City
Standard status
Active
APN
REE451
Size
6,200 SF
Lot size
0.15 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
MANHATTAN ORIG PLAT, S10, T01 N, R03 E, BLOCK 19, LOT 7 & 8
Tax Annual Amount
11622
Legal Description
MANHATTAN ORIG PLAT, S10, T01 N, R03 E, BLOCK 19, LOT 7 & 8
Utilities
Sewer type
Public Sewer
Heating system
Natural Gas, Forced Air
Cooling system
Window Unit(s)
Water source
Public
Building Details
Year built
1915
Listing Agency:
AmeriMont Real Estate
(406) 284-6546
Listed By:
Nancy Clark · License #BRO-63331
(406) 579-9190
Added: Jun 3
Changed: Aug 19
Last Checked: Aug 24 at 5:06PM
MLS# 411685
Copyright © 2026 Big Sky Country 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.
This restaurant property includes a 5,000-square-foot main level and a 600-square-foot mezzanine positioned above the dining area. The interior contains a brick-oven pizza kitchen, preparation space, walk-in cooler, bar, office, storage, ADA-compliant restrooms, and a private 3/4 bathroom. Street-facing windows and glass overhead garage doors connect the dining environment with seasonal indoor-outdoor seating. Original wood trusses and white brick walls remain part of the building’s character, while the structure dates to 1915 and was designed by Bozeman architect Fred Wilson.
The property operates from 114 E Main in Manhattan, Montana. Storehouse Coffee occupies the premises during the morning and early afternoon under a lease agreement, while Auto Inn Pizza operates during afternoon and evening hours. Public water and sewer serve the property, with natural gas and forced-air heat.
The property operates from 114 E Main in Manhattan, Montana. Storehouse Coffee occupies the premises during the morning and early afternoon under a lease agreement, while Auto Inn Pizza operates during afternoon and evening hours. Public water and sewer serve the property, with natural gas and forced-air heat.
Key Highlights
- 5,000‑square‑foot main level plus a 600‑square‑foot mezzanine
- Brick‑oven pizza kitchen with prep area and walk‑in cooler
- Bar, office, storage, ADA‑compliant restrooms, and private 3/4 bathroom
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
$87,036
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
4.70%
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%
$1,740,720
$1.7M
Cap Rate 7%
$1,243,371
$1.2M
Cap Rate 9%
$967,067
$967.1K
Market Conditions
NOI Build-Up for 6,200 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
$124.2K $20.04/SF
− Vacancy
−$8.2K −$1.32/SF
EGI
$116.0K $18.72/SF
− OpEx
−$29.0K −$4.68/SF
NOI
$87.0K $14.04/SF
Area
Gallatin County, MT
Vacancy
6.60%
Lease Rate
$20.04 /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%
$1,740,720
Cap Rate 7%
$1,243,371
Cap Rate 9%
$967,067
Alternative Uses
Best Use
Specialty Retail
$1.24M
$1.09M – $1.45M
NOI $87,036 @ 7.0% cap · market cap 4.70%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.62M
$1.42M – $1.89M
NOI $113,326 @ 7.0% cap · market cap 6.13%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
202
Businesses Nearby
8k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Home Improvements & Furnishings 59%
Groceries 41%
Manhattan Ace Hardware
Home Improvements & Furnishings
4,620 visits/mo
0.4 miles
L & F Market
Groceries
3,203 visits/mo
0.1 miles
Demographics for 59741, MT
5,397
Population
2,330
Households
2.3
Avg Household Size
39
Median Age
36%
College-Educated
99%
High-School Grad
164.9 sq mi
ZIP Area
33
Density / Sq Mi
$86,382
Median Household Income
$48,460
Median Earnings
$1,676
Median Rent
$562,300
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.
Frequently Asked Questions
What type of property is this?
Conventional restaurant - Brick-oven kitchen, bar service, and a leased coffee operation support varied daily use.
Where is this conventional restaurant located?
The property is located at 114 E Main Manhattan, MT.
What is the asking price?
The asking price for this property is $1,850,000.
What are key features of this property?
This property features: 5,000‑square‑foot main level plus a 600‑square‑foot mezzanine; Brick‑oven pizza kitchen with prep area and walk‑in cooler; Bar, office, storage, ADA‑compliant restrooms, and private 3/4 bathroom
