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    216 S Shr Rd Pickerel, WI 54465

    Sponsored
    For Sale
    $499,900

    Business Opportunity w/RE - Pickerel, WI

    Property size:
    3,340 SF
    Lot size:
    5.20 Acres
    Days on Market:
    2
    Last Refresh:
    Jan 31 at 11:06 am

    Property Features for 216 S Shr Rd

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Standard status
    Active
    Size
    3,340 SF
    Lot size
    5.20 Acres

    Utilities

    Heating system
    Baseboard, Forced Air
    Cooling system
    Central Air

    Building Details

    Roof type
    Shingle
    Architectural style
    Other

    We can help!

    Listing Contact
    MARK KELLY

    North Central Real Estate Brokerage (715) 424-1000

    Listing agent MARK KELLY (715) 424-1000 License #91568-94

    Listing date Jan 30, 2026

    MLS# 22600345 Listing URL

    Copyright © 2026 Central Wisconsin MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Overview

    Turn-Key Bar and Grill Investment

    The Campfire Bar and Grill, situated near Pickerel Lake on 5.2 wooded acres, presents a turn-key investment opportunity. This establishment features a rustic atmosphere with a large bar area, including a working stone fireplace, pool table, gaming machines, jukebox, dartboard, and high-top tables. The sale includes all inventory, ensuring a smooth transition. The property offers a spacious dining room and an outdoor deck for ample seating. An outdoor bar and picnic area allow patrons to enjoy the natural surroundings. The fully functional kitchen is equipped with coolers, a walk-in freezer, flat top, grill area, and Broaster fryer. The basement provides additional storage and houses a beer cooler. The property also includes a separate 720 sq ft living quarters with two bedrooms, a full bathroom, a 2.5 car garage, and a private deck. Extra rooms and a full bath are located in the basement, offering additional living space. Positioned on an ATV/Snowmobile trail and near several lakes, the location attracts outdoor enthusiasts. The current owner is willing to train the new buyer, and all necessary licensing is in place. The property size is 3340 square feet.
    Location Intelligence

    Current Use by Public Records

    Bars

    Map

    City
    Pickerel
    County
    Langlade
    State
    Wisconsin
    Longitude
    -88.904422
    Latitude
    45.382398

    Nearby Similar for Sale

    • $375,000
      2,100 SF

      Pickerel Lake Lodge Investment

      Iconic Northwoods Waterfront Business
      8915 Pickerel Lake Rd, Pickerel, WI 54465
      View Details
    • $1,400,000
      2,200 SF

      Pickerel Golf Course Investment

      9-Hole Course, 79 Acres, WI
      N9240 Hwy, Pickerel, WI 54465
      View Details

    FAQs

    What type of property is this?
    Bar - Profitable bar and grill on 5.2 acres near Pickerel Lake.
    Where is this bar located?
    The property is located at 216 S Shr Rd Pickerel, WI.
    What is the asking price?
    The asking price for this property is $499,900.
    What are key features of this property?
    This property features: - Turn-key bar and grill investment opportunity with existing licensing and inventory.; - Located on 5.2 wooded acres on an ATV/Snowmobile trail near Pickerel Lake, ideal for outdoor enthusiasts.; - Includes a separate 720 sq ft living quarters with 2 bedrooms, full bath, 2.5 car garage, and private deck.
    (715) 424-1000
    Request Owner's contact information
    216 S Shr Rd Pickerel, WI 54465
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    Pickerel, WI 54465
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    216 S Shr Rd Pickerel, WI 54465
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    We can help!
    Listing Contact
    MARK KELLY
    Real Estate License ID: 91568-94
    (715) 424-1000
    Learn more
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