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    227 S 3Rd St Palmyra, WI 53156

    For Sale
    $425,000

    Commercial/Industrial - Palmyra, WI

    Property size:
    5,482 SF
    Lot size:
    0.55 Acres
    Days on Market:
    87
    Last Refresh:
    Dec 5 at 4:06 am

    Property Features for 227 S 3Rd St

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Standard status
    Active
    Zoning
    Business
    APN
    17105162241056
    Interior features
    Furniture, Inside Storage, License Included, Office(s), Rest Rooms
    Exterior features
    Outside Storage, Pole Sign
    Size
    5,482 SF
    Lot size
    0.55 Acres

    Utilities

    Heating system
    Natural Gas
    Cooling system
    Central Air

    Building Details

    Year built
    1857
    Floors in Building
    2
    Building materials
    Brick
    Roof type
    Composition, Metal
    Architectural style
    Other
    Additional Structures
    Storage

    Juniper Real Estate LLC dba Keller Williams Realty Milwaukee North Shore (414) 962-3605 [email protected]

    Listing agent Michael D Zaddack (414) 962-3605 License #97498-94

    Listing date Sep 10, 2025

    MLS# 1934663 Listing URL

    Copyright © 2025 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.

    Overview

    Historic Palmyra Building with Apartments

    This character-filled building, constructed in 1857, is located in downtown Palmyra and presents an investment opportunity. The property is zoned for mixed use and currently holds a liquor license. The upper level features 6 fully rented 1-bedroom studio apartments, providing rental income. The property is located between Blue Spring Lake and Spring Lake, on horse trails and snowmobile trails. The building offers possibilities for maintaining the tavern's atmosphere or transforming it into a modern destination. The property size is 5,482 square feet and the lot size is 0.55 acres. The seller may entertain a lease but prefers to sell.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Nite Cap Inn American Restaurant

    Suggested Use

    Restaurant Building Supply Wholesale Shop Auto Repair Shop Hair Salon Clothing Store Hotel & Motel Gym & Fitness Auto Parts Store Food Market

    Zoning and permitted uses should be independently verified with local authorities.

    Similar Places Nearby

    Squidys 2

    Location Insight

    • Map
    • Local Demand
    City
    Palmyra
    County
    Jefferson
    State
    Wisconsin
    Longitude
    -88.585117
    Latitude
    42.875941

    Nearby Similar for Sale

    • $545,000
      5,482 SF

      Palmyra WI Mixed-Use Investment Opportunity

      Historic Supper Club w/ Apartments
      227 3Rd St, Palmyra, WI 53156
      View Details

    FAQs

    What type of property is this?
    Bar - Mixed-use building with tavern and apartments in downtown Palmyra.
    Where is this bar located?
    The property is located at 227 S 3Rd St Palmyra, WI.
    What is the asking price?
    The asking price for this property is $425,000.
    What are key features of this property?
    This property features: - Prime location in downtown Palmyra, near Blue Spring Lake and Spring Lake, with access to horse and snowmobile trails.; - Mixed-use zoning and existing liquor license offer immediate business opportunities.; - Six fully rented 1-BR studio apartments provide immediate rental income.
    (414) 962-3605
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    227 S 3Rd St Palmyra, WI 53156
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    Palmyra, WI 53156
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    Realmo Value Estimation

    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.

    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.

    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
    227 S 3Rd St Palmyra, WI 53156
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