Tavern with Apartment
For Sale
$895,000
1548 Sheridan Rd, Kenosha, WI 53140
Y, Kenosha, WI
Property Size3,784 SF
Lot Size1.77 Acres
Price / SF$236.52
Days on Market292
Property Features for 1548 Sheridan Rd
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
B-3 C-1
Directions
Sheridan Rd to address.
Standard status
Active
APN
8142231840820
Size
3,784 SF
Lot size
1.77 Acres
Taxes and HOA fees
Tax Year
2015
Tax Annual Amount
7195
Building Details
Year built
1920
Architectural style
Other
Listing Agency:
Homestead Realty, Inc
(800) 339-4444
Listed By:
Jerry Hornik · License #50465-90
(414) 461-4040
Added: Nov 17, 2025
Changed: Aug 20
Last Checked: Sep 5 at 9:06PM
MLS# 1943157
Copyright © 2026 Metro 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.
This for-sale commercial property is a well-established tavern with an apartment above. The sale includes furniture, fixtures, and equipment, and the listing notes that the machines are leased.
The offering also includes a 4-bedroom home and a parcel of vacant land, which the seller indicates are included in the price of sale. The property is zoned B-3 C-1 and is conveniently located on Sheridan Rd, close to Carthage College.
The buyer is reminded to rely on their own due diligence regarding all measurements.
The offering also includes a 4-bedroom home and a parcel of vacant land, which the seller indicates are included in the price of sale. The property is zoned B-3 C-1 and is conveniently located on Sheridan Rd, close to Carthage College.
The buyer is reminded to rely on their own due diligence regarding all measurements.
Key Highlights
- Tavern with an apartment above, with Year Built listed as 1920
- Business includes furniture, fixtures, and equipment (machines are leased)
- 4‑bedroom home included in the sale (tax #8342231840815)
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
$48,121
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
5.38%
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%
$962,420
$962.4K
Cap Rate 7%
$687,443
$687.4K
Cap Rate 9%
$534,678
$534.7K
Market Conditions
NOI Build-Up for 3,784 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
$68.1K $18.00/SF
− Vacancy
−$4.0K −$1.04/SF
EGI
$64.2K $16.96/SF
− OpEx
−$16.0K −$4.24/SF
NOI
$48.1K $12.72/SF
Area
Kenosha County, WI
Vacancy
5.80%
Lease Rate
$18.00 /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%
$962,420
Cap Rate 7%
$687,443
Cap Rate 9%
$534,678
Alternative Uses
Best Use
Specialty Retail
$687.4K
$601.5K – $802.0K
NOI $48,121 @ 7.0% cap · market cap 5.38%
Second Best
Mixed Use
$671.4K
$587.5K – $783.3K
NOI $46,997 @ 7.0% cap · market cap 5.25%
Theoretical Best
Warehouse
$4.41M
$3.85M – $5.14M
NOI $308,381 @ 7.0% cap · market cap 34.46%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
168
Businesses Nearby
Explore this area
Business Placement
Demographics for 53140, WI
30,571
Population
14,065
Households
2.2
Avg Household Size
36
Median Age
28%
College-Educated
90%
High-School Grad
7.9 sq mi
ZIP Area
3,870
Density / Sq Mi
$56,803
Median Household Income
$34,154
Median Earnings
$1,018
Median Rent
$191,400
Median Home Value
Market
Vacancy Rate% for Retail in Midwest 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?
Mixed-use property - Established tavern includes furnishings, fixtures, and equipment, plus an apartment above and included adjacent property.
Where is this mixed-use property located?
The property is located at 1548 Sheridan Rd Kenosha, WI.
What is the asking price?
The asking price for this property is $895,000.
What are key features of this property?
This property features: Tavern with an apartment above, with Year Built listed as 1920; Business includes furniture, fixtures, and equipment (machines are leased); 4‑bedroom home included in the sale (tax #8342231840815)
