Hospitality and Gaming
For Sale
$3,600,000
5 Swan Way Bigfork, Bigfork, MT 59911
Iconic lodge, saloon, and casino property with upper entertainment space and downstairs guest rooms.
Property Size12,236 SF
Lot Size1.46 Acres
Price / SF$294.21
Days on Market51
Property Features for 5 Swan Way Bigfork
General Information
Standard status
Active
Size
12,236 SF
Lot size
1.46 Acres
Additional Details
Business Included
Yes
Liquor License
Yes
Taxes and HOA fees
Annual Taxes
$25,921
Amenities
Full,Finished,Walk-Out Access
Carpet,Concrete,Wood
true
false
Partial
See Remarks,Views,Level
Public
1.46
Public Records
List Available
Additional Parking
Asphalt
Courtyard,Storage
Poured,Basement
Highway
12236
Building Details
Building Size
12,236 SF
Year Built
2005
Listing Agency:
RE/MAX Whitefish
(406) 415-8680
Listed By:
Chap Godsey · License #11795
(406) 415-8680
Source:
Glacier-country-kalispell-mt.remax
Added: Jun 30
Changed: Aug 19
Last Checked: Aug 19 at 5:02AM
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 RE/MAX Whitefish
Investment Insights
Based on property information with market context.
This hospitality property includes a saloon, casino, grill, and lodge components in a single 12,236 SF building on 1.46 acres. The upper level offers more than 6,300 SF of saloon, casino, and restaurant space and operates with a Full Liquor License, Casino License, and Sports Betting License, along with a Catering Endorsement and Non-Continuous Storage Endorsement. A newly updated back patio provides an outdoor gathering area.
Downstairs features nine lodge rooms plus a library, laundry, utility area, and an enclosed beer cooler. The business is presented as turnkey for sale, and the property is located directly across the street from the Bigfork Rodeo grounds, just outside Bigfork.
With its combination of dining, gaming, guest accommodations, and the related operating endorsements and licenses noted in the offering, the building is configured to support an ongoing hospitality and entertainment operation.
Downstairs features nine lodge rooms plus a library, laundry, utility area, and an enclosed beer cooler. The business is presented as turnkey for sale, and the property is located directly across the street from the Bigfork Rodeo grounds, just outside Bigfork.
With its combination of dining, gaming, guest accommodations, and the related operating endorsements and licenses noted in the offering, the building is configured to support an ongoing hospitality and entertainment operation.
Key Highlights
- 12,236 SF lodge, saloon, and casino property on 1.46 acres
- Upper level includes 6,300+ SF of saloon, casino, and restaurant space
- Licenses/endorsements include full liquor license, casino license, sports betting license, catering endorsement, and non‑continuous storage endorsement
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
$168,776
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
4.69%
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%
$3,375,520
$3.4M
Cap Rate 7%
$2,411,086
$2.4M
Cap Rate 9%
$1,875,289
$1.9M
Market Conditions
NOI Build-Up for 12,236 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
$232.0K $18.96/SF
− Vacancy
−$7.0K −$0.57/SF
EGI
$225.0K $18.39/SF
− OpEx
−$56.3K −$4.60/SF
NOI
$168.8K $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%
$3,375,520
Cap Rate 7%
$2,411,086
Cap Rate 9%
$1,875,289
Alternative Uses
Best Use
Specialty Retail
$2.41M
$2.11M – $2.81M
NOI $168,776 @ 7.0% cap · market cap 4.69%
Second Best
Hotel Hospitality
$1.32M
$1.15M – $1.53M
NOI $92,064 @ 7.0% cap · market cap 2.56%
Theoretical Best
Office A
$2.73M
$2.39M – $3.19M
NOI $191,234 @ 7.0% cap · market cap 5.31%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Turnkey business
Opportunity
Yes
Liquor license
Location Intelligence
Trade Area within ½ mile
79
Businesses Nearby
9k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 100%
Cenex
Shops & Services
7,682 visits/mo
0.2 miles
Napa Auto Parts
Shops & Services
1,649 visits/mo
0.2 miles
Demographics for 59911, MT
8,722
Population
5,707
Households
1.5
Avg Household Size
55
Median Age
50%
College-Educated
98%
High-School Grad
491.7 sq mi
ZIP Area
18
Density / Sq Mi
$81,846
Median Household Income
$37,500
Median Earnings
$1,158
Median Rent
$608,000
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?
Casino - Iconic lodge, saloon, and casino property with upper entertainment space and downstairs guest rooms.
Where is this casino located?
The property is located at 5 Swan Way Bigfork Bigfork, MT.
What is the asking price?
The asking price for this property is $3,600,000.
What are key features of this property?
This property features: 12,236 SF lodge, saloon, and casino property on 1.46 acres; Upper level includes 6,300+ SF of saloon, casino, and restaurant space; Licenses/endorsements include full liquor license, casino license, sports betting license, catering endorsement, and non‑continuous storage endorsement
