Bar and Event Venue with
For Sale
$1,300,000
6287 Mt Highway 83, Condon, MT 59826
CommercialSale, Condon, MT
Property Size4,554 SF
Lot Size1.66 Acres
Price / SF$285.46
Days on Market263
Property Features for 6287 Mt Highway 83
General Information
Property type
Commercial Sale
Property subtype
Other
Rooms
Basement
Security features
Security
Patio and Porch features
Patio
Exterior features
FirePit, SportCourt, PropaneTankLeased
Lot features
Back Yard, Landscaped, Views, Level
View
Mountains
Directions
Montana Hwy 83 to Condon. GPS will take you to address. West side of highway.
Standard status
Active
APN
04299220202130000
Lot size
1.66 Acres
Taxes and HOA fees
Tax Year
2024
Tax Description
COS # 930 in SW4NW4 of s20-T20N-R16W
Tax Annual Amount
4177
Legal Description
COS # 930 in SW4NW4 of s20-T20N-R16W
Utilities
Utilities
Propane
Sewer type
Septic Tank, Private Sewer
Heating system
Baseboard, Electric (Heating), Natural Gas, Wood Stove, Wood, Propane (Heating), Other (Heating)
Water source
Well
Amenities
mini golf
cornhole
horseshoes
outdoor party tent
Building Details
Year built
1975
Building materials
Log, WoodFrame
Listing Agency:
Keller Williams Realty Northwest Montana
(406) 752-4700
Listed By:
Ted Dykstra Jr · License #RRE-BRO-LIC-10713
(406) 249-8345
Added: Dec 1, 2025
Changed: Aug 21
Last Checked: Aug 21 at 8:06AM
MLS# 30061723
Copyright © 2026 Montana Regional 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.
Located at 6287 MT Highway 83 in Condon, this bar and restaurant property occupies 1.66 acres and includes 4,554 sq ft of usable space. The layout features a bar area with casino gaming machines, a private dining room, restaurant facilities, and space for catered events. Outdoor improvements include patio seating, a party tent, mini golf, cornhole, horseshoes, a sport court, and a fire pit.
A separate 624 sq ft cabin provides additional on-site space. The property has a well, private sewer and septic infrastructure, propane service, and multiple heating systems. MTDOT traffic counts are 1975+ vehicles per day in front of the property. Licenses and future booked events are included, while inventory is negotiable.
A separate 624 sq ft cabin provides additional on-site space. The property has a well, private sewer and septic infrastructure, propane service, and multiple heating systems. MTDOT traffic counts are 1975+ vehicles per day in front of the property. Licenses and future booked events are included, while inventory is negotiable.
Key Highlights
- 4,554 sq ft of usable bar and restaurant space on 1.66 acres
- Separate 624 sq ft cabin included
- MTDOT traffic counts run 1975+ vehicles per day in front
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
$91,911
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
7.07%
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%
$1,838,220
$1.8M
Cap Rate 7%
$1,313,014
$1.3M
Cap Rate 9%
$1,021,233
$1.0M
Market Conditions
NOI Build-Up for 4,554 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
$125.7K $27.60/SF
− Vacancy
−$3.1K −$0.69/SF
EGI
$122.5K $26.91/SF
− OpEx
−$30.6K −$6.73/SF
NOI
$91.9K $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%
$1,838,220
Cap Rate 7%
$1,313,014
Cap Rate 9%
$1,021,233
Alternative Uses
Best Use
Specialty Retail
$1.31M
$1.15M – $1.53M
NOI $91,911 @ 7.0% cap · market cap 7.07%
Second Best
Hotel Hospitality
$500.6K
$438.0K – $584.1K
NOI $35,043 @ 7.0% cap · market cap 2.70%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Turnkey business
Opportunity
Yes
Liquor license
Location Intelligence
Trade Area within ½ mile
5
Businesses Nearby
Well-served
Demand for This Use
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Bar & Pub - Established bar and restaurant operation with a private dining room, gaming area, outdoor gathering spaces, and a separate cabin.
Where is this bar & pub located?
The property is located at 6287 Mt Highway 83 Condon, MT.
What is the asking price?
The asking price for this property is $1,300,000.
What are key features of this property?
This property features: 4,554 sq ft of usable bar and restaurant space on 1.66 acres; Separate 624 sq ft cabin included; MTDOT traffic counts run 1975+ vehicles per day in front
