Building Details

Year Built 1972

Listing Agency: CENTURY 21 Hometown Brokers Billings s***@gmail.com Show Phone

Listed By: Shane Bancroft · License #rre-rbs-lic-99721

Source: Crexi

Added: Jun 8, 2024 Changed: Aug 8 Last Checked: Jul 24 at 4:46PM

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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 Hometown Brokers Billings

Investment Insights

Based on property information with market context.

This is a long-established bar, restaurant, and casino, including the business, building, and land. Located at an Interstate exit on I-90 in Ballantine, MT, this property is a fixture of the community. The 1.644-acre parcel offers ample room for parking, concerts, events, and future expansion. The property has undergone many recent upgrades and includes all equipment needed for a turn-key operation. An outdoor stage is available for summer events. The building size is 3840 square feet. This property presents an opportunity as the Billings area continues to grow.

Key Highlights

• Established bar/restaurant/casino business, building, and land included in sale.
• Located at an Interstate I‑90 exit with high visibility.
• Turn‑key operation with all equipment included.

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

$36,772

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

7.43%

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%

$735,440 $735.4K

Cap Rate 7%

$525,314 $525.3K

Cap Rate 9%

$408,578 $408.6K

Market Conditions

NOI Build-Up for 3,840 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

$55.3K $14.40/SF

− Vacancy

−$2.8K −$0.72/SF

EGI

$52.5K $13.68/SF

− OpEx

−$15.8K −$4.10/SF

NOI

$36.8K $9.58/SF

Area

Yellowstone County, MT

Vacancy

5.00%

Lease Rate

$14.40 /SF/Yr

Expense Ratio

30.00%

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%

$735,440

Cap Rate 7%

$525,314

Cap Rate 9%

$408,578

Alternative Uses

Best Use

Specialty Retail

$803.9K

$703.4K – $937.9K (±1% cap)

NOI $56,272 @ 7.0% cap · market cap 11.37%

Second Best

Retail

$525.3K

$459.7K – $612.9K (±1% cap)

NOI $36,772 @ 7.0% cap · market cap 7.43%

Theoretical Best

Office A

$834.2K

$729.9K – $973.2K (±1% cap)

NOI $58,393 @ 7.0% cap · market cap 11.80%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Property Profile

Current Use

Longbranch Casino Hotel & Motel ATM Atm

Suggested Use

Top Pick Auto Parts Store Storage Facility Law Firm Hotel & Motel Bar & Pub

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

9

Businesses Nearby

Well-served

Demand for This Use

Explore this area Business Placement

Demographics for 59006, MT

937

Population

504

Households

1.9

Avg Household Size

41

Median Age

9%

College-Educated

91%

High-School Grad

61.8 sq mi

ZIP Area

15

Density / Sq Mi

$47,670

Median Household Income

$43,750

Median Earnings

$852

Median Rent

$240,800

Median Home Value

Market

Vacancy Rate% for Retail in West region

7% 2020

6.3% 2021

5.5% 2022

5.3% 2023

5.5% 2024

5.8% 2025

Questions? Ask Rey

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What type of property is this? Where is this bars & pubs located? What is the asking price? Find similar properties ... What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Bar & Pub - Established bar, restaurant, and casino with room for growth.

Where is this bar & pub located?

The property is located at 2131 W Arrow Creek Road Ballantine, 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: Established bar/restaurant/casino business, building, and land included in sale.; Located at an Interstate I‑90 exit with **high visibility**.; Turn‑key operation with all equipment included.