Building Details

Year Built 1940

Listing Agency: Beartooth Realty l***@beartoothrealty.com Show Phone

Listed By: Leza Vargas · License #RRE-BRO-LIC-71415

Source: Shonnakeyteam

Added: Aug 17 Changed: Aug 18 Last Checked: Aug 20 at 9:23AM

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Investment Insights

Based on property information with market context.

Built in 1940, this bar and pub serves as a local venue for gaming, spirits, and food service. The property is situated just off I-90 in Park City, outside Billings, Montana.

The offering presents an opportunity for a full liquor license, with the existing operation centered on beverage service, gaming, and local food. The property’s established operating history and location in Park City provide a defined commercial use for an owner or operator seeking a bar and pub asset.

Key Highlights

• Bar and pub property built in 1940
• Located just off I‑90 in Park City, Montana
• Existing operation includes gaming, spirits, and local food service

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

$17,003

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

2.83%

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%

$340,060 $340.1K

Cap Rate 7%

$242,900 $242.9K

Cap Rate 9%

$188,922 $188.9K

Market Conditions

NOI Build-Up for 1,428 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

$23.1K $16.20/SF

− Vacancy

−$463 −$0.32/SF

EGI

$22.7K $15.88/SF

− OpEx

−$5.7K −$3.97/SF

NOI

$17.0K $11.91/SF

Area

Stillwater 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 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%

$340,060

Cap Rate 7%

$242,900

Cap Rate 9%

$188,922

Alternative Uses

Best Use

Specialty Retail

$242.9K

$212.5K – $283.4K (±1% cap)

NOI $17,003 @ 7.0% cap · market cap 2.83%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$311.6K

$272.6K – $363.5K (±1% cap)

NOI $21,811 @ 7.0% cap · market cap 3.64%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Property Profile

Current Use

Bars & Pubs

Suggested Use

Top Pick Plumbing Service Building Supply Grocery & Convenience Store Storage Facility Law Firm Food Market

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

Yes

Highway access

Location Intelligence

Trade Area within ½ mile

64

Businesses Nearby

Well-served

Demand for This Use

Explore this area Business Placement

Demographics for 59063, MT

2,174

Population

861

Households

2.5

Avg Household Size

47

Median Age

29%

College-Educated

93%

High-School Grad

61.2 sq mi

ZIP Area

36

Density / Sq Mi

$90,417

Median Household Income

$44,917

Median Earnings

$1,107

Median Rent

$336,800

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

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What type of property is this? Where is this bars & pubs located? What is the asking price? Find similar properties ... What are key features of this property?

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Similar For Sale Nearby

Bar and Pub with Food Service

119 1st Street SW, Park City, MT 59063

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Similar Off Market Nearby

• Pop's Inn — 117 1st St SW, Park City, MT 59063
• Scotsman Bar And Cafe — 7 1st Ave SE, Park City, MT 59063

Frequently Asked Questions

What type of property is this?

Bar & Pub - Bar and pub offering gaming, spirits, and local food service in an established commercial setting.

Where is this bar & pub located?

The property is located at 119 1st St SW Park City, MT.

What is the asking price?

The asking price for this property is $599,900.

What are key features of this property?

This property features: Bar and pub property built in 1940; Located just off I‑90 in Park City, Montana; Existing operation includes gaming, spirits, and local food service