Historic Brick Restaurant
For Sale
$795,000
801 E Front, Butte, MT 59701
Three-story historic brick property with a café occupying the main floor.
Property Size10,875 SF
Price / SF$73.10
Days on Market353
Property Features for 801 E Front
General Information
Standard status
Active
Size
10,875 SF
Property subtype
Commercial
Zoning
C - Commercial
Taxes and HOA fees
Annual Taxes
$3,882
Building Details
Building Size
10,875 SF
Year Built
1895
Listing Agency:
Century 21 Shea Realty
(952) 567-1263
Listed By:
Chris Eastlund · License #BRO-4464
(952) 567-1263
Source:
Outlaw
Added: Sep 12, 2025
Changed: Aug 29
Last Checked: Aug 30 at 1:41PM
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 Century 21 Shea Realty
Investment Insights
Based on property information with market context.
This three-story brick building contains 10,875 square feet and dates to the late nineteenth century, with construction beginning in 1888 and completion in 1894. The main floor is currently occupied by Annie’s Cafe, providing an established restaurant use within the property.
Located at 801 E Front St in Butte, MT, the building has a documented history as a former railroad hotel. Its substantial masonry construction, multi-story configuration, and existing café occupancy define the property’s current commercial profile.
Located at 801 E Front St in Butte, MT, the building has a documented history as a former railroad hotel. Its substantial masonry construction, multi-story configuration, and existing café occupancy define the property’s current commercial profile.
Key Highlights
- 10,875‑square‑foot three‑story brick building
- Construction began in 1888 and finished in 1894
- Main floor currently rented to Annie’s Cafe
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
$65,862
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
8.28%
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%
$1,317,240
$1.3M
Cap Rate 7%
$940,886
$940.9K
Cap Rate 9%
$731,800
$731.8K
Market Conditions
NOI Build-Up for 10,875 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
$163.1K $15.00/SF
− Vacancy
−$24.5K −$2.25/SF
EGI
$138.7K $12.75/SF
− OpEx
−$72.8K −$6.69/SF
NOI
$65.9K $6.06/SF
Area
Silver Bow County, MT
Vacancy
15.00%
Lease Rate
$15.00 /SF/Yr
Expense Ratio
52.50%
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%
$1,317,240
Cap Rate 7%
$940,886
Cap Rate 9%
$731,800
Alternative Uses
Best Use
Specialty Retail
$1.91M
$1.67M – $2.23M
NOI $133,599 @ 7.0% cap · market cap 16.80%
Second Best
Hotel Hospitality
$940.9K
$823.3K – $1.10M
NOI $65,862 @ 7.0% cap · market cap 8.28%
Theoretical Best
Office A
$2.37M
$2.07M – $2.77M
NOI $165,907 @ 7.0% cap · market cap 20.87%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
564
Businesses Nearby
57k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 63%
Dining 17%
Home Improvements & Furnishings 12%
Beauty & Spa 4%
Dollar Tree
Shops & Services
8,984 visits/mo
0.4 miles
Conoco
Shops & Services
7,232 visits/mo
0.1 miles
Town Pump
Shops & Services
7,071 visits/mo
0.5 miles
Exxon
Shops & Services
7,066 visits/mo
0.5 miles
Butte True Value
Home Improvements & Furnishings
7,006 visits/mo
0.3 miles
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 - Three-story historic brick property with a café occupying the main floor.
Where is this conventional restaurant located?
The property is located at 801 E Front Butte, MT.
What is the asking price?
The asking price for this property is $795,000.
What are key features of this property?
This property features: 10,875‑square‑foot three‑story brick building; Construction began in 1888 and finished in 1894; Main floor currently rented to Annie’s Cafe
