Historic Berthoud Restaurant and Banquet
For Sale
$1,375,000
335 Mountain Avenue, Berthoud, CO 80513
Charming historic property with restaurant, bar, and banquet hall.
Property Size5,210 SF
Price / SF$263.92
Days on Market333
Property Features for 335 Mountain Avenue
General Information
Standard status
Active
Size
5,210 SF
Property subtype
Shopping Center / Retail
Zoning
C1 Neighborhood Commercial with Mountain Overlay
Building Details
Building Size
5,210 SF
Year Built
1900
Listing Agency:
RE/MAX Elevate
(303) 472-2222
Listed By:
Keith Kanemoto · License #FA40009659
Source:
Remaxcommercial
Added: Sep 25, 2025
Changed: Aug 14
Last Checked: Aug 23 at 2:25AM
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 Elevate
Investment Insights
Based on property information with market context.
This historic property, situated in the heart of Berthoud on Mountain Avenue between Third Street and N. 4th Street in downtown Berthoud, has been home to Bradford's Grub & Grog for the past five years. The main level features a wide-open space with laminate hardwood floors, a full kitchen, and a bar. The kitchen is equipped with an updated hood system, a newer cooler and freezer, and a new grease trap. There are also two restrooms and a sliding barn door that provides access to the second floor. A rear courtyard offers space for outdoor dining. The second floor, formerly the Oddfellows Hall, has been renovated into a banquet hall, meeting, or party space. Renovations include refinishing the original wood flooring, all new plumbing including two ADA compliant restrooms, new electrical, and new HVAC. The second floor retains its old-world charm with exposed brick and original hardwood floors. The property has a total size of 5210 square feet.
Key Highlights
- Prime downtown Berthoud location on Mountain Avenue.
- Recently renovated second‑floor banquet hall/meeting space** with new plumbing, electrical, and HVAC.
- Main level featuring a full kitchen with updated hood system, newer cooler and freezer, and new grease trap.
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
$56,116
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
4.08%
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%
$1,122,320
$1.1M
Cap Rate 7%
$801,657
$801.7K
Cap Rate 9%
$623,511
$623.5K
Market Conditions
NOI Build-Up for 5,210 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
$77.1K $14.79/SF
− Vacancy
−$2.2K −$0.43/SF
EGI
$74.8K $14.36/SF
− OpEx
−$18.7K −$3.59/SF
NOI
$56.1K $10.77/SF
Area
Larimer County, CO
Vacancy
2.90%
Lease Rate
$14.79 /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%
$1,122,320
Cap Rate 7%
$801,657
Cap Rate 9%
$623,511
Alternative Uses
Best Use
Specialty Retail
$801.7K
$701.5K – $935.3K
NOI $56,116 @ 7.0% cap · market cap 4.08%
Second Best
Retail
$651.2K
$569.8K – $759.8K
NOI $45,585 @ 7.0% cap · market cap 3.32%
Theoretical Best
Office A
$1.40M
$1.22M – $1.63M
NOI $97,891 @ 7.0% cap · market cap 7.12%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
633
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 80513, CO
15,824
Population
6,563
Households
2.4
Avg Household Size
42
Median Age
44%
College-Educated
97%
High-School Grad
71.4 sq mi
ZIP Area
222
Density / Sq Mi
$117,024
Median Household Income
$53,161
Median Earnings
$1,709
Median Rent
$558,100
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?
Restaurant - Charming historic property with restaurant, bar, and banquet hall.
Where is this restaurant located?
The property is located at 335 Mountain Avenue Berthoud, CO.
What is the asking price?
The asking price for this property is $1,375,000.
What are key features of this property?
This property features: Prime downtown Berthoud location on Mountain Avenue.; Recently renovated second‑floor banquet hall/meeting space** with new plumbing, electrical, and HVAC.; Main level featuring a full kitchen with updated hood system, newer cooler and freezer, and new grease trap.
