Downtown Brewery with Restaurant
For Sale
Contact for pricing
210 N Pattee St, Missoula, MT 59802
Includes brewing systems, restaurant equipment, walk-in coolers, and an All-Beverage License with Catering.
Property Size10,370 SF
Price / SF$472.52
Days on Market501
Property Features for 210 N Pattee St
General Information
Standard status
Active
Size
10,370 SF
Property subtype
RETAIL
Restaurant
Equipment Included
Yes
Liquor License
Yes
Additional Details
Furnished
Yes
Business Included
Yes
Listing Agency:
Sterling CRE Advisors
(406) 203-4547
Listed By:
Matt Mellott CCIM, SIOR
(406) 203-3950
Source:
Moodyscre
Added: Apr 22, 2025
Changed: Aug 31
Last Checked: Sep 2 at 1:08AM
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 Sterling CRE Advisors
Investment Insights
Based on property information with market context.
This 10370-square-foot brewery and restaurant property combines production infrastructure with a fully equipped food-service setup. Existing improvements include brewing equipment, restaurant fixtures and equipment, walk-in coolers, and FF&E. The property also includes an All-Beverage License with Catering, supporting its established hospitality configuration.
Located at 210 N Pattee St in downtown Missoula, the property is surrounded by downtown businesses and several major hotels. Popular attractions, nightlife, entertainment venues, and professional offices are within walking distance, placing the operation in an active commercial setting. The existing brewery and restaurant components provide a foundation for continued operation or an expanded concept, subject to applicable approvals and licensing requirements.
Located at 210 N Pattee St in downtown Missoula, the property is surrounded by downtown businesses and several major hotels. Popular attractions, nightlife, entertainment venues, and professional offices are within walking distance, placing the operation in an active commercial setting. The existing brewery and restaurant components provide a foundation for continued operation or an expanded concept, subject to applicable approvals and licensing requirements.
Key Highlights
- 10370‑square‑foot brewery and restaurant property
- All‑Beverage License with Catering included
- Brewing infrastructure and restaurant equipment in place
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
$209,293
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
4.27%
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%
$4,185,860
$4.2M
Cap Rate 7%
$2,989,900
$3.0M
Cap Rate 9%
$2,325,478
$2.3M
Market Conditions
NOI Build-Up for 10,370 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
$286.2K $27.60/SF
− Vacancy
−$7.2K −$0.69/SF
EGI
$279.1K $26.91/SF
− OpEx
−$69.8K −$6.73/SF
NOI
$209.3K $20.18/SF
Area
Missoula County, MT
Vacancy
2.50%
Lease Rate
$27.60 /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%
$4,185,860
Cap Rate 7%
$2,989,900
Cap Rate 9%
$2,325,478
Alternative Uses
Best Use
Specialty Retail
$2.99M
$2.62M – $3.49M
NOI $209,293 @ 7.0% cap · market cap 4.27%
Second Best
Industrial
$1.08M
$941.6K – $1.26M
NOI $75,331 @ 7.0% cap · market cap 1.54%
Theoretical Best
—
—
same as Best Use
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
2,901
Businesses Nearby
Explore this area
Business Placement
Demographics for 59802, MT
19,892
Population
10,416
Households
1.9
Avg Household Size
37
Median Age
52%
College-Educated
96%
High-School Grad
45.4 sq mi
ZIP Area
438
Density / Sq Mi
$65,054
Median Household Income
$36,541
Median Earnings
$1,021
Median Rent
$420,200
Median Home Value
Market
Vacancy Rate% for Industrial in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Brewery - Includes brewing systems, restaurant equipment, walk-in coolers, and an All-Beverage License with Catering.
Where is this brewery located?
The property is located at 210 N Pattee St Missoula, MT.
What is the asking price?
The asking price for this property is $4,900,000.
What are key features of this property?
This property features: 10370‑square‑foot brewery and restaurant property; All‑Beverage License with Catering included; Brewing infrastructure and restaurant equipment in place
