Restaurant Building with
For Sale
$495,000
Pending
501 S Excelsior Street, Butte, MT 59701
CommercialSale, Butte, MT
Property Size1,864 SF
Lot Size0.26 Acres
Days on Market201
Property Features for 501 S Excelsior Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
Call Listing Agent for Details
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 2, Bathroom 1
Directions
Google will get you there.
Subdivision
10BWM - Butte - West of Montana
Standard status
Pending
APN
0000342200
Size
1,864 SF
Lot size
0.26 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
WEST END ADD, S14, T03 N, R08 W, BLOCK 7, LOT 4, GRANDVIEW - LOT 1 BLK 2 RESERVE LODE - LOT X
Tax Annual Amount
4974
Legal Description
WEST END ADD, S14, T03 N, R08 W, BLOCK 7, LOT 4, GRANDVIEW - LOT 1 BLK 2 RESERVE LODE - LOT X
Utilities
Sewer type
Public Sewer
Heating system
Central
Cooling system
Central Air
Water source
Public
Building Details
Year built
1959
Listing Agency:
Venture West Realty
(406) 522-9378
Listed By:
Scott Thompson · License #BRO-94797
(406) 593-1057
Added: Feb 6
Changed: Aug 19
Last Checked: Aug 26 at 11:06PM
MLS# 408461
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 conventional restaurant property includes a 1,864-square-foot building with a drive-through window, dining room, commercial kitchen, prep area, and cold-storage capacity. Equipment is included with the sale. The building was constructed in 1959 and has received multiple upgrades. Central heating and central air conditioning support the interior, while public water and public sewer serve the property.
The property is located at 501 S Excelsior Street in Butte, Montana, near Montana Tech and St. James Hospital. The building is currently occupied by La Sirena, a Mexican restaurant. Its existing food-service layout provides a defined operating framework for continued restaurant use or a related culinary concept.
The property is located at 501 S Excelsior Street in Butte, Montana, near Montana Tech and St. James Hospital. The building is currently occupied by La Sirena, a Mexican restaurant. Its existing food-service layout provides a defined operating framework for continued restaurant use or a related culinary concept.
Key Highlights
- 1,864‑square‑foot restaurant building with included equipment
- Drive‑through window, dining room, kitchen, prep area, and cold storage
- Currently occupied by La Sirena, a Mexican restaurant
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
$22,899
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
4.63%
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%
$457,980
$458.0K
Cap Rate 7%
$327,129
$327.1K
Cap Rate 9%
$254,433
$254.4K
Market Conditions
NOI Build-Up for 1,864 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
$31.3K $16.80/SF
− Vacancy
−$783 −$0.42/SF
EGI
$30.5K $16.38/SF
− OpEx
−$7.6K −$4.10/SF
NOI
$22.9K $12.29/SF
Area
Silver Bow County, MT
Vacancy
2.50%
Lease Rate
$16.80 /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%
$457,980
Cap Rate 7%
$327,129
Cap Rate 9%
$254,433
Alternative Uses
Best Use
Specialty Retail
$327.1K
$286.2K – $381.7K
NOI $22,899 @ 7.0% cap · market cap 4.63%
Second Best
Industrial
$161.6K
$141.4K – $188.5K
NOI $11,309 @ 7.0% cap · market cap 2.28%
Theoretical Best
Office A
$406.2K
$355.5K – $474.0K
NOI $28,437 @ 7.0% cap · market cap 5.74%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
693
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 59701, MT
33,937
Population
16,834
Households
2
Avg Household Size
42
Median Age
27%
College-Educated
94%
High-School Grad
509.7 sq mi
ZIP Area
67
Density / Sq Mi
$56,799
Median Household Income
$34,793
Median Earnings
$811
Median Rent
$219,200
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?
Conventional restaurant - Restaurant property with a dining area, commercial kitchen, prep space, cold storage, and included equipment.
Where is this conventional restaurant located?
The property is located at 501 S Excelsior Street Butte, MT.
What is the asking price?
The asking price for this property is $495,000.
What are key features of this property?
This property features: 1,864‑square‑foot restaurant building with included equipment; Drive‑through window, dining room, kitchen, prep area, and cold storage; Currently occupied by La Sirena, a Mexican restaurant
