West Yellowstone Boutique
For Sale
Contact for pricing
603 Yellowstone Ave, West Yellowstone, MT 59758
Adult-exclusive lodging near Yellowstone National Park's West Entrance.
Property Size12,412 SF
Price / SF$402.84
Days on Market1482
Property Features for 603 Yellowstone Ave
General Information
Standard status
Active
Size
12,412 SF
Property subtype
Hospitality
Net Operating Income
$528,114
Building Details
Year Built
1960
Year Renovated
2017
Buildings
2
Stories
2
Listing Agency:
West Coast Commercial Realty
(310) 274-0805
Listed By:
Jaxson Maurer · License #WA 20107582
Source:
Crexi
Added: Aug 1, 2022
Changed: Aug 12
Last Checked: Aug 20 at 6:46AM
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 West Coast Commercial Realty
Investment Insights
Based on property information with market context.
The 1872 Inn is an adult-exclusive lodging property located in West Yellowstone. This boutique lodge features 18 rooms, a sauna, and a fitness room. The property is located on Yellowstone Ave, blocks from the West Entrance to Yellowstone National Park and near shops, dining, and entertainment. In 2017, the property was completely renovated to evoke a Montana aesthetic. Guest room features include a fireplace, double showers, dual vanities, local custom hand-made furniture, towel warmers, his and hers bathroom amenities, a separate water closet, Keurig coffee makers, robes, and slippers. The property size is 12412 square feet.
Key Highlights
- Premier adult‑exclusive boutique lodge - West Yellowstone's only one.
- Prime location: Blocks from Yellowstone National Park's West Entrance.
- Completely renovated in 2017 with a distinct Montana aesthetic.
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
$159,184
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
3.18%
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%
$3,183,680
$3.2M
Cap Rate 7%
$2,274,057
$2.3M
Cap Rate 9%
$1,768,711
$1.8M
Market Conditions
NOI Build-Up for 12,412 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
$372.4K $30.00/SF
− Vacancy
−$37.2K −$3.00/SF
EGI
$335.1K $27.00/SF
− OpEx
−$175.9K −$14.18/SF
NOI
$159.2K $12.83/SF
Area
Gallatin County, MT
Vacancy
10.00%
Lease Rate
$30.00 /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%
$3,183,680
Cap Rate 7%
$2,274,057
Cap Rate 9%
$1,768,711
Alternative Uses
Best Use
Hotel Hospitality
$2.27M
$1.99M – $2.65M
NOI $159,184 @ 7.0% cap · market cap 3.18%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.24M
$2.84M – $3.78M
NOI $226,872 @ 7.0% cap · market cap 4.54%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
407
Businesses Nearby
Explore this area
Business Placement
Demographics for 59758, MT
1,932
Population
1,695
Households
1.1
Avg Household Size
43
Median Age
32%
College-Educated
90%
High-School Grad
413.9 sq mi
ZIP Area
5
Density / Sq Mi
$59,750
Median Household Income
$32,439
Median Earnings
$1,050
Median Rent
$476,600
Median Home Value
Questions? Ask Rey
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Similar Off Market Nearby
- Explorer Cabins at Yellowstone — 250 S Canyon St, West Yellowstone, MT 59758
- Gray Wolf Inn & Suites — 250 S Canyon St, West Yellowstone, MT 59758
- Yellowstone Park Hotel — 201 Grizzly Ave, West Yellowstone, MT 59758
- Geyser Inn — 105- USA, 167 S Electric St, West Yellowstone, MT 59758
- Yellowstone — 250 S Canyon St, West Yellowstone, MT 59758
Frequently Asked Questions
What type of property is this?
Bed & breakfast - Adult-exclusive lodging near Yellowstone National Park's West Entrance.
Where is this bed & breakfast located?
The property is located at 603 Yellowstone Ave West Yellowstone, MT.
What is the asking price?
The asking price for this property is $5,000,000.
What are key features of this property?
This property features: Premier adult‑exclusive boutique lodge - West Yellowstone's only one.; Prime location: Blocks from Yellowstone National Park's West Entrance.; Completely renovated in 2017 with a distinct Montana aesthetic.
