Fully Equipped Downtown
For Sale
$899,000
121 Main, Kalispell, MT 59901
For sale restaurant space with commercial kitchen equipment and included beer and wine license in downtown Kalispell.
Property Size1,978 SF
Price / SF$454.50
Days on Market57
Property Features for 121 Main
General Information
Standard status
Active
Size
1,978 SF
Property subtype
Commercial
Additional Details
Furnished
Yes
Liquor License
Yes
Taxes and HOA fees
Annual Taxes
$11,075
Amenities
Garage: On Street
On Street
Building Details
Year Built
1987
Listing Agency:
Keller Williams Realty Northwest Montana
Listed By:
Austin Baumgarten
Source:
Clearwaterproperties
Added: Jul 10
Changed: Sep 3
Last Checked: Sep 4 at 11:46AM
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 Keller Williams Realty Northwest Montana
Investment Insights
Based on property information with market context.
This for-sale restaurant property is set up for foodservice use and comes with a range of operational assets. The sale includes a beer and wine license, commercial kitchen equipment, fixtures, and furnishings. The restaurant is no longer in operation, providing a clean slate for the next owner to implement their concept.
Located in downtown Kalispell, the property is described as having excellent visibility and easy access, with consistent pedestrian and vehicle traffic.
The offering is centered on a restaurant-ready interior with key components already in place, positioning the space for a new restaurant, café, or hospitality concept within a high-activity downtown setting.
Located in downtown Kalispell, the property is described as having excellent visibility and easy access, with consistent pedestrian and vehicle traffic.
The offering is centered on a restaurant-ready interior with key components already in place, positioning the space for a new restaurant, café, or hospitality concept within a high-activity downtown setting.
Key Highlights
- 1978 total building area restaurant space in downtown Kalispell, Montana
- Sale includes beer and wine license, commercial kitchen equipment, fixtures, and furnishings
- On‑street parking with total of 4 parking spaces; city street frontage on asphalt road surface
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
$27,283
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
3.03%
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%
$545,660
$545.7K
Cap Rate 7%
$389,757
$389.8K
Cap Rate 9%
$303,144
$303.1K
Market Conditions
NOI Build-Up for 1,978 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
$37.5K $18.96/SF
− Vacancy
−$1.1K −$0.57/SF
EGI
$36.4K $18.39/SF
− OpEx
−$9.1K −$4.60/SF
NOI
$27.3K $13.79/SF
Area
Flathead County, MT
Vacancy
3.00%
Lease Rate
$18.96 /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%
$545,660
Cap Rate 7%
$389,757
Cap Rate 9%
$303,144
Alternative Uses
Best Use
Specialty Retail
$389.8K
$341.0K – $454.7K
NOI $27,283 @ 7.0% cap · market cap 3.03%
Second Best
Industrial
$170.0K
$148.8K – $198.4K
NOI $11,901 @ 7.0% cap · market cap 1.32%
Theoretical Best
Office A
$441.6K
$386.4K – $515.2K
NOI $30,914 @ 7.0% cap · market cap 3.44%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Liquor license
Location Intelligence
Trade Area within ½ mile
2,043
Businesses Nearby
194k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 40%
Groceries 34%
Shops & Services 24%
Home Improvements & Furnishings 2%
Smith's
Groceries
35,676 visits/mo
0.3 miles
Super 1 Foods
Groceries
29,600 visits/mo
0.2 miles
Wendy's
Dining
18,599 visits/mo
0.5 miles
Starbucks
Dining
14,085 visits/mo
0.1 miles
Taco Bell
Dining
13,285 visits/mo
0.5 miles
Demographics for 59901, MT
57,900
Population
25,154
Households
2.3
Avg Household Size
40
Median Age
33%
College-Educated
96%
High-School Grad
468.8 sq mi
ZIP Area
124
Density / Sq Mi
$70,391
Median Household Income
$38,073
Median Earnings
$1,052
Median Rent
$417,200
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.
Frequently Asked Questions
What type of property is this?
Conventional restaurant - For sale restaurant space with commercial kitchen equipment and included beer and wine license in downtown Kalispell.
Where is this conventional restaurant located?
The property is located at 121 Main Kalispell, MT.
What is the asking price?
The asking price for this property is $899,000.
What are key features of this property?
This property features: 1978 total building area restaurant space in downtown Kalispell, Montana; Sale includes beer and wine license, commercial kitchen equipment, fixtures, and furnishings; On‑street parking with total of 4 parking spaces; city street frontage on asphalt road surface
