Iconic Running Bear Pancake House, West Yellowstone- Price Improvement
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MAJOR PRICE IMPROVEMENT – BUSINESS + REAL ESTATE NOW OFFERED AT $2,100,000
The sellers made a significant price improvement to facilitate a timely sale of the Running Bear Pancake House business and underlying commercial real estate in West Yellowstone, Montana. The combined offering was reduced from $2,260,000 to $2,100,000, now asking $690,000 for the business and $1,410,000 for the real estate.
The price improvement reflects the sellers' desire to complete a timely transaction, not declining business performance. The business generated T12 SDE of $414,299 (7/1/25–6/30/26), placing the improved $690,000 business asking price at an attractive 1.67x T12 SDE for an established, high-volume restaurant operation with demonstrated profitability. The $1,410,000 real estate asking price is supported by an April 2026 appraisal.
Running Bear operates in a uniquely restricted commercial market at the gateway to Yellowstone National Park, which sees over 4.7 million visitors annually. West Yellowstone's limited commercial real estate, geographic constraints on expansion, and limited availability of suitable restaurant spaces create significant barriers to new competition and make comparable commercial locations difficult to replicate.
Running Bear has operated in its original location since the 1960s and built a remarkably consistent customer base. During the summer park season, the restaurant is rarely without a wait during prime breakfast hours, including many customers who return year after year on their visits to Yellowstone.
The business currently operates with virtually no marketing or advertising spend and a focus on dine-in, providing potential growth opportunities through expanded dining, grab-and-go offerings, or possible development of available lot space for complementary retail concepts for the right owner.
CIM and Financial Overview available from the listing broker upon completed NDA and buyer disclosure.
Business and real estate purchase is SBA prequalified. Financing is subject to buyer qualification. Contact listing broker for lender information.
Restaurant review video courtesy of RynoBakes, used with permission. View the creator's original video on YouTube.
The sellers made a significant price improvement to facilitate a timely sale of the Running Bear Pancake House business and underlying commercial real estate in West Yellowstone, Montana. The combined offering was reduced from $2,260,000 to $2,100,000, now asking $690,000 for the business and $1,410,000 for the real estate.
The price improvement reflects the sellers' desire to complete a timely transaction, not declining business performance. The business generated T12 SDE of $414,299 (7/1/25–6/30/26), placing the improved $690,000 business asking price at an attractive 1.67x T12 SDE for an established, high-volume restaurant operation with demonstrated profitability. The $1,410,000 real estate asking price is supported by an April 2026 appraisal.
Running Bear operates in a uniquely restricted commercial market at the gateway to Yellowstone National Park, which sees over 4.7 million visitors annually. West Yellowstone's limited commercial real estate, geographic constraints on expansion, and limited availability of suitable restaurant spaces create significant barriers to new competition and make comparable commercial locations difficult to replicate.
Running Bear has operated in its original location since the 1960s and built a remarkably consistent customer base. During the summer park season, the restaurant is rarely without a wait during prime breakfast hours, including many customers who return year after year on their visits to Yellowstone.
The business currently operates with virtually no marketing or advertising spend and a focus on dine-in, providing potential growth opportunities through expanded dining, grab-and-go offerings, or possible development of available lot space for complementary retail concepts for the right owner.
CIM and Financial Overview available from the listing broker upon completed NDA and buyer disclosure.
Business and real estate purchase is SBA prequalified. Financing is subject to buyer qualification. Contact listing broker for lender information.
Restaurant review video courtesy of RynoBakes, used with permission. View the creator's original video on YouTube.
About the Business
- Years in Operation
- 61
- Employees
- 13 Full-time
Seasonal employees hired for Summer tourist season - Facilities & Assets
- Real Estate:
Building 1 consists of 3,086 SF restaurant space with full commercial kitchen. Dining room has seating capacity for 90-100 guests.
Building 2 is an attached add-on consisting of 1,344 SF two-door garage on first floor and 1,356 SF residence on second floor that has 3 bedrooms, 2 bathrooms, kitchen, living room, dining room and laundry room. Currently rented to restaurant manager.
Assets:
Sale includes complete FF&E along with all intangible assets for a smooth, turnkey transition: the established Running Bear Pancake House brand and goodwill, trade name, proprietary recipes and menus, operating procedures, website, active social media presence, business phone number, and vendor relationships.
Itemized asset list with estimated market values is available upon request.
Inventory (food, beverage, restaurant supplies, and retail merchandise) is excluded from the asking price and will be inventoried at cost as of the closing date. - Website
- Show Website URL
- Market Outlook / Competition
- Located in the high-traffic gateway of West Yellowstone, Running Bear Pancake House benefits from a steady stream of millions of annual Yellowstone National Park visitors. Commercial real estate in town is strictly limited, creating a strong barrier to entry for prospective competitors. While tourism drives heavy dining demand, few area restaurants focus specifically on traditional American breakfast. Running Bear leverages its iconic local reputation, consistent food quality, and top-ranked digital search presence to capture significant market share and frequent local referrals.
- Opportunities for Growth
- Immediate growth opportunity is expanding service hours and offerings to include lunch and casual dinner options. Other growth opportunity is promoting grab-and-go lunch and dinner.
Real Estate
- Owned or Leased
- Owned
- Not included in asking price
- Building Sq. Ft.
- 5,786
About the Sale
- Seller Motivation
- Owners to pursue other opportunities.
- Transition Support
- Owner will provide 30 days active transition support with 30 days additional phone and email support included in the sales price.
- Financing Options
- Business and real estate sale are SBA prequalified.
Listing Info
- ID
- 2531947
- Listing Views
- 677
Listing ID: 2531947 The information on this listing has been provided by either the seller or a business broker representing the seller. BizQuest has no interest or stake in the sale of this business and has not verified any of the information and assumes no responsibility for its accuracy, veracity, or completeness. See our full Terms of Use. Learn how to avoid scams.
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