Bar, Grill & Casino
New
For Sale
$1,480,000
3189 Hwy 83 N, Seeley Lake, MT 59868
CommercialSale, Seeley Lake, MT
Property Size6,751 SF
Lot Size1.60 Acres
Price / SF$219.23
Days on Market4
Property Features for 3189 Hwy 83 N
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
None/Unknown
Directions
Hwy 83 N in the town of Seeley Lake
Subdivision
12M - Other Montana Counties
Standard status
Active
APN
390604
Size
6,751 SF
Lot size
1.60 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
COYLE ADDITION, S03, T16 N, R15 W, Lot 1
Tax Annual Amount
10897
Legal Description
COYLE ADDITION, S03, T16 N, R15 W, Lot 1
Utilities
Sewer type
Septic Tank
Heating system
Electric (Heating), Propane (Heating)
Cooling system
Ceiling Fan(s)
Building Details
Year built
1960
Listing Agency:
Clearwater Montana Properties
(406) 677-3000
Listed By:
Kevin Wetherell · License #BRO-8397
(800) 577-3013
Added: Aug 31
Changed: Sep 2
Last Checked: Sep 3 at 4:06AM
MLS# 414500
Copyright © 2026 Big Sky Country MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 6,751-square-foot hospitality property occupies 1.6 acres at 3189 Hwy 83 N in Seeley Lake. The offering includes a bar, grill, and casino operation with an all-beverage license, gaming, fixtures, and business equipment. The improvements also contain commercial storefronts that are leased to other occupants, along with a detached laundromat facility. Built in 1960, the property has propane and electric heating, ceiling fans, and a septic tank system.
An optional purchase is available for the adjacent 1,790-square-foot residence on 1.97 acres. The home includes three bedrooms, two bathrooms, and a fenced yard, while the additional acreage is serviced by the Seeley Lake Mutual Water District. The Seeley Lake Comprehensive Plan designates the property at four units per acre, subject to Missoula County approval.
The property is near the Bob Marshall Wilderness Area and the Blackfoot River, with seasonal activity associated with area lakes and groomed snowmobile trails.
An optional purchase is available for the adjacent 1,790-square-foot residence on 1.97 acres. The home includes three bedrooms, two bathrooms, and a fenced yard, while the additional acreage is serviced by the Seeley Lake Mutual Water District. The Seeley Lake Comprehensive Plan designates the property at four units per acre, subject to Missoula County approval.
The property is near the Bob Marshall Wilderness Area and the Blackfoot River, with seasonal activity associated with area lakes and groomed snowmobile trails.
Key Highlights
- 6,751‑square‑foot bar, grill, and casino property on 1.6 acres
- All‑beverage license with gaming included in the offering
- Commercial storefronts leased to other occupants
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
$83,361
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
5.63%
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%
$1,667,220
$1.7M
Cap Rate 7%
$1,190,871
$1.2M
Cap Rate 9%
$926,233
$926.2K
Market Conditions
NOI Build-Up for 6,751 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
$121.5K $18.00/SF
− Vacancy
−$2.4K −$0.36/SF
EGI
$119.1K $17.64/SF
− OpEx
−$35.7K −$5.29/SF
NOI
$83.4K $12.35/SF
Area
Missoula County, MT
Vacancy
2.00%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
30.00%
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%
$1,667,220
Cap Rate 7%
$1,190,871
Cap Rate 9%
$926,233
Alternative Uses
Best Use
Specialty Retail
$1.95M
$1.70M – $2.27M
NOI $136,252 @ 7.0% cap · market cap 9.21%
Second Best
Retail
$1.19M
$1.04M – $1.39M
NOI $83,361 @ 7.0% cap · market cap 5.63%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Multi-tenant
Tenancy
Turnkey business
Opportunity
Yes
Highway access
Yes
Paved road access
Yes
Liquor license
Location Intelligence
Trade Area within ½ mile
140
Businesses Nearby
Explore this area
Business Placement
Demographics for 59868, MT
2,087
Population
1,652
Households
1.3
Avg Household Size
56
Median Age
24%
College-Educated
94%
High-School Grad
256.0 sq mi
ZIP Area
8
Density / Sq Mi
$48,409
Median Household Income
$33,650
Median Earnings
$1,028
Median Rent
$286,800
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.
Similar Off Market Nearby
- Seeley Chicken Coop & Lounge — 645 Pine Dr, Seeley Lake, MT 59868
Frequently Asked Questions
What type of property is this?
Bar & Pub - Operating hospitality property with leased storefronts, gaming authorization, and a separate laundromat building.
Where is this bar & pub located?
The property is located at 3189 Hwy 83 N Seeley Lake, MT.
What is the asking price?
The asking price for this property is $1,480,000.
What are key features of this property?
This property features: 6,751‑square‑foot bar, grill, and casino property on 1.6 acres; All‑beverage license with gaming included in the offering; Commercial storefronts leased to other occupants
