Bar and Pub Building with
For Sale
$799,900
2148 UNIVERSITY Avenue, Green Bay, WI 54301
Commercial Sale, GREEN BAY, WI
Property Size3,140 SF
Lot Size0.51 Acres
Price / SF$254.75
Days on Market187
Property Features for 2148 UNIVERSITY Avenue
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
Commercial
Elementary school district
Green Bay Area
Middle school district
Green Bay Area
High school district
Green Bay Area
Directions
corner of University Ave and N. Danz
Standard status
Active
APN
21-2220
Lot size
0.51 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
8053
Utilities
Sewer type
Public Sewer
Heating system
Forced Air
Cooling system
Central Air
Water source
Public
Amenities
patio
Building Details
Year built
1966
Building materials
Aluminum Siding
Listing Agency:
Resource One Realty, LLC
(920) 983-5450
Listed By:
Jamie D Depas · License #91700983
(920) 536-0125
Added: Feb 16
Changed: Aug 21
Last Checked: Aug 22 at 12:06PM
MLS# 50321395
Copyright © 2026 Realtor Association of Northeast Wisconsin. 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 bar and pub property includes a 3,140 square foot building on a 0.51-acre site at 2148 University Avenue in Green Bay. The 1966 building features aluminum siding, extensive windows, a patio, and two prominent signs positioned at the corners. A new roof is also in place.
The property sits at the intersection of University Avenue and N. Danz Avenue, with ample parking serving the building. Public water and public sewer are available, while forced-air heating and central air provide building systems. Commercial zoning supports the stated restaurant, retail, and office use possibilities.
The property sits at the intersection of University Avenue and N. Danz Avenue, with ample parking serving the building. Public water and public sewer are available, while forced-air heating and central air provide building systems. Commercial zoning supports the stated restaurant, retail, and office use possibilities.
Key Highlights
- 3,140 square foot building on a 0.51‑acre lot
- Located at University Avenue and N. Danz Avenue
- Patio, extensive windows, and ample parking
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
$42,955
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
5.37%
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%
$859,100
$859.1K
Cap Rate 7%
$613,643
$613.6K
Cap Rate 9%
$477,278
$477.3K
Market Conditions
NOI Build-Up for 3,140 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
$60.3K $19.20/SF
− Vacancy
−$3.0K −$0.96/SF
EGI
$57.3K $18.24/SF
− OpEx
−$14.3K −$4.56/SF
NOI
$43.0K $13.68/SF
Area
Green Bay, WI
Vacancy
5.00%
Lease Rate
$19.20 /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%
$859,100
Cap Rate 7%
$613,643
Cap Rate 9%
$477,278
Alternative Uses
Best Use
Specialty Retail
$613.6K
$536.9K – $715.9K
NOI $42,955 @ 7.0% cap · market cap 5.37%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$732.1K
$640.6K – $854.1K
NOI $51,245 @ 7.0% cap · market cap 6.41%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
363
Businesses Nearby
145k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 51%
Groceries 30%
Dining 17%
Electronics 1%
Skogen's Festival Foods
Groceries
44,145 visits/mo
0.3 miles
Kwik Trip
Shops & Services
38,441 visits/mo
0.3 miles
Dollar Tree
Shops & Services
13,691 visits/mo
0.4 miles
Taco Bell
Dining
8,866 visits/mo
0.1 miles
Burger King
Dining
6,643 visits/mo
0.2 miles
Demographics for 54301, WI
22,875
Population
10,532
Households
2.2
Avg Household Size
39
Median Age
38%
College-Educated
94%
High-School Grad
6.5 sq mi
ZIP Area
3,519
Density / Sq Mi
$76,768
Median Household Income
$45,717
Median Earnings
$929
Median Rent
$205,900
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.
Similar Off Market Nearby
- Lone Star Sports Bar and Grill — 1911 University Ave, Green Bay, WI 54302
- Barra nueva — 212 N Henry St, Green Bay, WI 54302
- Gipper's Sports Bar & Grill — 1860 University Ave, Green Bay, WI 54302
- Some Place Else — 1605 University Ave, Green Bay, WI 54302
- Highland Pub & Grill — 1860 University Ave, Green Bay, WI 54302
Frequently Asked Questions
What type of property is this?
Bar & Pub - Commercially zoned property with corner signage, abundant windows, and adaptable space for restaurant, retail, or office use.
Where is this bar & pub located?
The property is located at 2148 UNIVERSITY Avenue Green Bay, WI.
What is the asking price?
The asking price for this property is $799,900.
What are key features of this property?
This property features: 3,140 square foot building on a 0.51‑acre lot; Located at University Avenue and N. Danz Avenue; Patio, extensive windows, and ample parking
