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    Iconic Bar in Red Lodge Title is generated by Realmo AI

    204 S Broadway Ave., Red Lodge, MT 59068

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    For Sale
    $990,000

    COMMERCIAL - Red Lodge, MT

    Property size:
    1,936 SF
    Lot size:
    0.06 Acres
    Price / SF:
    $511/SF
    Added:
    Dec 16, 2025
    Days on Market:
    152
    Last Refresh:
    May 17 at 5:06 am

    Property Features for 204 S Broadway Ave.

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Parking
    3
    Interior features
    Storage
    Appliances
    Refrigerator
    Standard status
    Active
    APN
    1001600
    Size
    1,936 SF
    Lot size
    0.06 Acres

    Taxes and HOA fees

    Tax Description
    RED LODGE ORIGINAL TOWNSITE, S27, T07 S, R20 E, BLOCK 14, S 20'7" LT 17
    Tax Annual Amount
    3061

    Utilities

    Sewer type
    Public Sewer
    Heating system
    Hot Water(Heating)
    Water source
    Public

    Building Details

    Year built
    1910
    Floors in Building
    1
    Building materials
    Frame, WoodSiding
    Roof type
    Asphalt
    Additional Structures
    Storage

    We can help!

    Listing Contact
    Rene Turnbull

    Listing agent Rene Turnbull License #RRE-RBS-LIC-99200

    Listing office H BAR S Real Estate 16 North Broadway, RED LODGE, MT

    Listing date Dec 16, 2025

    MLS# 346776

    Copyright © 2026 Billings Association of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • Iconic Western Bar: The Blue Ribbon Bar, a well‑established and recognized business operating for over 70 years.
    • Turnkey Business Opportunity: Includes all beverage, gaming, and catering licenses, along with all fixtures.
    • Prime Location: Situated in Red Lodge, a popular ski town at the base of the Beartooth Mountains, attracting both locals and tourists.
    • Strong Customer Base of both local residents and visiting tourists.
    • Updated and Well‑Maintained: Pride of ownership is evident with regular updates to the building over the years.
    • Features a large back patio, ideal for summertime entertainment.

    Overview

    This is a blue ribbon opportunity to acquire an iconic western bar establishment in Red Lodge, Montana, a ski town at the base of the Beartooth Mountains. The Blue Ribbon Bar, a popular local watering hole with a strong customer base of locals and tourists, is offered for sale. The sale includes an all-beverage, gaming, and catering license and is turnkey with all fixtures included. Updates have been made regularly over the years, demonstrating pride of ownership. The property features a large back patio, suitable as a summertime entertainment center. The building has a size of 1936 square feet and sits on a lot of 0.0591 acres.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Bars & Pubs

    Suggested Use

    Big Box & Wholesale Store Storage Facility HVAC Service Hair Salon Skin Care Clinic Kitchen & Bath Showroom Auto Parts Store Building Supply Car Rental Facility Computer & Electronic Repair

    Zoning and permitted uses should be independently verified with local authorities.

    Similar Places Nearby

    • Foster & Logans Pub & Grill — 17 Broadway Ave S, Red Lodge, MT 59068
    • Babcock & Miles Cafe & Wine Bar — 107 12th St W, Red Lodge, MT 59068
    • Snow Creek Saloon — 124 Broadway Ave S, Red Lodge, MT 59068
    • The Snag Bar — 107 Broadway Ave S, Red Lodge, MT 59068
    • One Legged Magpie — 205 broadway ave s, red lodge, mt 59068

    Location Insight

    • Map
    • Local Demand
    City
    Red Lodge
    County
    Carbon
    State
    Montana
    Longitude
    -109.2467327
    Latitude
    45.184762

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    FAQs

    What type of property is this?
    Bar & Pub - Established bar with gaming license in a ski town.
    Where is this bar & pub located?
    The property is located at 204 S Broadway Ave. Red Lodge, MT.
    What is the asking price?
    The asking price for this property is $990,000.
    What are key features of this property?
    This property features: Iconic Western Bar: The Blue Ribbon Bar, a well‑established and recognized business operating for over 70 years.; Turnkey Business Opportunity: Includes all beverage, gaming, and catering licenses, along with all fixtures.; Prime Location: Situated in Red Lodge, a popular ski town at the base of the Beartooth Mountains, attracting both locals and tourists.
    (406) 581-9207
    We can help!
    Listing Contact
    Rene Turnbull
    Real Estate License ID: RRE-RBS-LIC-99200
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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