Historic Saloon With
For Sale
$269,000
Pending
57 S 1st St W, Downey, ID 83234
COMMERCIAL - Downey, ID
Property Size2,800 SF
Lot Size0.60 Acres
Days on Market185
Property Features for 57 S 1st St W
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
Commercial General
Subdivision
Downey
Standard status
Pending
Lot size
0.60 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
S9' LOT 13; ALL LOTS 14-20 BLOCK 49 PARK ADDN TO DOWNEY and S9' LOT 12 N16' LOT 13 BLOCK 49 PARK
Tax Annual Amount
2233
Legal Description
S9' LOT 13; ALL LOTS 14-20 BLOCK 49 PARK ADDN TO DOWNEY and S9' LOT 12 N16' LOT 13 BLOCK 49 PARK
Utilities
Heating system
Forced Air
Water source
Public
Building Details
Year built
1939
Building materials
Frame, Log
Roof type
Metal
Listing Agency:
Premier Properties Real Estate Co.
(208) 232-5025
Listed By:
Brandi Townsend · License #SP44013
(208) 406-8511
Added: Feb 5
Changed: Aug 4
Last Checked: Aug 9 at 6:06PM
MLS# 581593
Copyright © 2026 Greater Pocatello Association of REALTORS®. 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 historic saloon offers a full bar setup and seating area, with an attached one-bedroom, one-bath apartment. The saloon is approximately 2,000 sq ft, while the apartment is approximately 800 sq ft. Fixtures and operating items are included in the sale, including pool tables, tables and chairs, refrigerator, glassware, and bar stools, providing a turn-key starting point for an operator. The apartment needs new flooring and appliances, but the space can support owner occupancy or rental use.
The property sits on two commercial lots and includes a fully fenced outdoor area. The outdoor space features two horseshoe pits and an additional area intended for evening gatherings. A separate 850 sq ft shop/garage is also located on the backside of the property. The property is zoned Commercial General.
For a buyer looking to run a bar and retain flexibility on the living arrangement, the attached apartment supports either renting or owner occupancy. The fenced outdoor amenities and additional shop/garage add practical space for events, storage, or day-to-day operations, while the commercial zoning provides a straightforward platform for hospitality-focused use.
The property sits on two commercial lots and includes a fully fenced outdoor area. The outdoor space features two horseshoe pits and an additional area intended for evening gatherings. A separate 850 sq ft shop/garage is also located on the backside of the property. The property is zoned Commercial General.
For a buyer looking to run a bar and retain flexibility on the living arrangement, the attached apartment supports either renting or owner occupancy. The fenced outdoor amenities and additional shop/garage add practical space for events, storage, or day-to-day operations, while the commercial zoning provides a straightforward platform for hospitality-focused use.
Key Highlights
- Historical saloon plus an attached 1 bedroom, 1 bathroom apartment (saloon approx. 2,000 SF; apartment approx. 800 SF).
- Includes all fixtures and equipment to operate the business, including pool tables, tables & chairs, refrigerator, glassware, and bar stools.
- Property sits on two commercial lots with a fully fenced outdoor area featuring two horseshoe pits.
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
$17,593
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
6.54%
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%
$351,860
$351.9K
Cap Rate 7%
$251,329
$251.3K
Cap Rate 9%
$195,478
$195.5K
Market Conditions
NOI Build-Up for 2,800 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
$33.6K $12.00/SF
− Vacancy
−$1.6K −$0.58/SF
EGI
$32.0K $11.42/SF
− OpEx
−$14.4K −$5.14/SF
NOI
$17.6K $6.28/SF
Area
Bannock County, ID
Vacancy
4.80%
Lease Rate
$12.00 /SF/Yr
Expense Ratio
45.00%
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%
$351,860
Cap Rate 7%
$251,329
Cap Rate 9%
$195,478
Alternative Uses
Best Use
Specialty Retail
$384.9K
$336.8K – $449.1K
NOI $26,944 @ 7.0% cap · market cap 10.02%
Second Best
Apartment 5plus
$251.3K
$219.9K – $293.2K
NOI $17,593 @ 7.0% cap · market cap 6.54%
Theoretical Best
Office A
$464.0K
$406.0K – $541.3K
NOI $32,478 @ 7.0% cap · market cap 12.07%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
1
Residential units
Turnkey business
Opportunity
Yes
Fenced yard
Location Intelligence
Demographics for 83234, ID
1,127
Population
556
Households
2
Avg Household Size
44
Median Age
17%
College-Educated
90%
High-School Grad
270.2 sq mi
ZIP Area
4
Density / Sq Mi
$66,154
Median Household Income
$30,025
Median Earnings
$927
Median Rent
$216,000
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
- Loading Pen — 57 S 1st St W, Downey, ID 83234
Frequently Asked Questions
What type of property is this?
Bar & Pub - Historic saloon with an attached one-bedroom apartment, plus fenced outdoor area and a shop/garage for flexible use.
Where is this bar & pub located?
The property is located at 57 S 1st St W Downey, ID.
What is the asking price?
The asking price for this property is $269,000.
What are key features of this property?
This property features: Historical saloon plus an attached 1 bedroom, 1 bathroom apartment (saloon approx. 2,000 SF; apartment approx. 800 SF).; Includes all fixtures and equipment to operate the business, including pool tables, tables & chairs, refrigerator, glassware, and bar stools.; Property sits on two commercial lots with a fully fenced outdoor area featuring two horseshoe pits.
