Casino, Restaurant &
For Sale
$3,600,000
5 Swan Way, Bigfork, MT 59911
Multi-use hospitality property with gaming, dining, lodging, and outdoor patio space.
Property Size12,236 SF
Lot Size1.46 Acres
Price / SF$294.21
Days on Market22
Property Features for 5 Swan Way
General Information
Standard status
Active
Size
12,236 SF
Lot size
1.46 Acres
Additional Details
Business Included
Yes
Patio
Yes
Building Details
Year Built
2005
Listing Agency:
America's 1st Choice Realty, LLC
Listed By:
Brittany Buckallew · License #RRE-RBS-LIC-53146
(406) 212-8566
Source:
Flatheadvalleybrokers
Added: Aug 24
Changed: Sep 14
Last Checked: Sep 14 at 5:35PM
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 America's 1st Choice Realty, LLC
Investment Insights
Based on property information with market context.
This 12,236-square-foot casino property, built in 2005, combines saloon, casino, restaurant, and lodge functions on 1.46 acres. The upper level provides over 6,300 square feet of commercial space, while the lower level contains 9 lodge rooms along with a library, laundry area, utility space, and enclosed beer cooler. A recently updated rear patio adds outdoor gathering space.
The property is located at 5 Swan Way in Bigfork, Montana, directly across the street from the Bigfork Rodeo grounds. Licenses and endorsements include a Full Liquor License, Casino License, Sports Betting License, Catering Endorsement, and Non-Continuous Storage Endorsement.
The property is located at 5 Swan Way in Bigfork, Montana, directly across the street from the Bigfork Rodeo grounds. Licenses and endorsements include a Full Liquor License, Casino License, Sports Betting License, Catering Endorsement, and Non-Continuous Storage Endorsement.
Key Highlights
- 12,236 SF property on 1.46 acres
- Over 6,300 SF of upper‑level saloon, casino, and restaurant space
- 9 lodge rooms plus library, laundry, utility area, and enclosed beer cooler
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
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Current Use
Lease Details
Turnkey business
Opportunity
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Retail in West region
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Frequently Asked Questions
What type of property is this?
Casino - Multi-use hospitality property with gaming, dining, lodging, and outdoor patio space.
Where is this casino located?
The property is located at 5 Swan Way 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 property on 1.46 acres; Over 6,300 SF of upper‑level saloon, casino, and restaurant space; 9 lodge rooms plus library, laundry, utility area, and enclosed beer cooler
