Bar, Restaurant, and
For Sale
$1,500,000
6287 Mt Highway 83, Condon, MT 59826
Well-updated entertainment venue with bar, restaurant, casino gaming, outdoor patio space, and licensed operations.
Property Size5,178 SF
Price / SF$289.69
Days on Market56
Property Features for 6287 Mt Highway 83
General Information
Standard status
Active
Size
5,178 SF
Additional Details
Business Included
Yes
Traffic Count
1,975 vehicles/day
Building Details
Year Built
1975
Listing Agency:
Keller Williams Realty Northwest Montana
Listed By:
Ted Dykstra Jr
Source:
Purewestrealestate
Added: Jun 16
Changed: Jul 10
Last Checked: Aug 10 at 2:45AM
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 Keller Williams Realty Northwest Montana
Investment Insights
Based on property information with market context.
This well-established bar, restaurant, and casino combines indoor entertainment with guest gathering spaces. The bar and restaurant provide 4,554 square feet of usable, well-appointed space, including a bar area with casino gaming machines, a private dining room for families, and an outdoor patio setup for guest seating. The operation also includes an event-capable outdoor party tent for catered events and on-site recreation such as mini golf, cornhole, and horseshoes. An included 624-square-foot cabin is available for owner use or rental income, and the property comes with licenses. The inventory is negotiable, and future booked events are included.
The business is located at 6287 Mt Highway 83 in Condon, Montana, with MTDOT traffic counts indicating 1,975+ vehicles per day in front.
This offering is suited for an operator or buyer seeking a turnkey hospitality and entertainment concept that already incorporates bar service, food service, and casino-style gaming within one facility, supported by existing updates and an event calendar including bingo and karaoke nights plus regularly scheduled featured dining. The included owner cabin and event infrastructure can help support diversified revenue streams tied to both local patronage and seasonal visitors.
The business is located at 6287 Mt Highway 83 in Condon, Montana, with MTDOT traffic counts indicating 1,975+ vehicles per day in front.
This offering is suited for an operator or buyer seeking a turnkey hospitality and entertainment concept that already incorporates bar service, food service, and casino-style gaming within one facility, supported by existing updates and an event calendar including bingo and karaoke nights plus regularly scheduled featured dining. The included owner cabin and event infrastructure can help support diversified revenue streams tied to both local patronage and seasonal visitors.
Key Highlights
- Well‑updated bar, restaurant, and entertainment venue with casino gaming machines on site
- 4,554 sq ft of usable bar and restaurant space, plus a private dining room for families
- Outdoor patio seating and outdoor party tent for catered events
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
$104,505
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
6.97%
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%
$2,090,100
$2.1M
Cap Rate 7%
$1,492,929
$1.5M
Cap Rate 9%
$1,161,167
$1.2M
Market Conditions
NOI Build-Up for 5,178 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
$142.9K $27.60/SF
− Vacancy
−$3.6K −$0.69/SF
EGI
$139.3K $26.91/SF
− OpEx
−$34.8K −$6.73/SF
NOI
$104.5K $20.18/SF
Area
Missoula County, MT
Vacancy
2.50%
Lease Rate
$27.60 /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%
$2,090,100
Cap Rate 7%
$1,492,929
Cap Rate 9%
$1,161,167
Alternative Uses
Best Use
Specialty Retail
$1.49M
$1.31M – $1.74M
NOI $104,505 @ 7.0% cap · market cap 6.97%
Second Best
Hotel Hospitality
$569.2K
$498.1K – $664.1K
NOI $39,845 @ 7.0% cap · market cap 2.66%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1,975 VPD
Traffic count
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
5
Businesses Nearby
Explore this area
Business Placement
Demographics for 59826, MT
497
Population
535
Households
0.9
Avg Household Size
60
Median Age
41%
College-Educated
99%
High-School Grad
381.9 sq mi
ZIP Area
1
Density / Sq Mi
$61,364
Median Household Income
$27,500
Median Earnings
$933
Median Rent
$491,900
Median Home Value
Market
Vacancy Rate% for Retail in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Casino - Well-updated entertainment venue with bar, restaurant, casino gaming, outdoor patio space, and licensed operations.
Where is this casino located?
The property is located at 6287 Mt Highway 83 Condon, MT.
What is the asking price?
The asking price for this property is $1,500,000.
What are key features of this property?
This property features: Well‑updated bar, restaurant, and entertainment venue with casino gaming machines on site; 4,554 sq ft of usable bar and restaurant space, plus a private dining room for families; Outdoor patio seating and outdoor party tent for catered events
