Restaurant With Brewing
For Sale
$649,000
255 S Main St, West Bend, WI 53095
N, West Bend, WI
Property Size5,500 SF
Lot Size0.09 Acres
Price / SF$118
Days on Market140
Property Features for 255 S Main St
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
Commercial
Standard status
Active
APN
291 11191320402
Size
5,500 SF
Lot size
0.09 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
13954
Building Details
Year built
1930
Architectural style
Other
Listing Agency:
Homestead Realty, Inc
(800) 339-4444
Listed By:
Broc Nathan Fleischer · License #5838490
(920) 960-0555
Added: Apr 21
Changed: Aug 20
Last Checked: Sep 7 at 1:06PM
MLS# 1959056
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 5,500-square-foot conventional restaurant occupies a 0.09-acre property at 255 S Main St in West Bend. Built in 1930, the building underwent a complete remodel 20 years ago, including updates to the plumbing, electrical systems, plaster, kitchen, and bathrooms. Brewing equipment is installed, and restaurant furnishings, fixtures, and operating equipment are included.
The property features a large dining deck overlooking the Milwaukee River, along with established interior décor. The sellers operated the restaurant for more than 20 years before retiring, providing continuity of ownership and operating history for a restaurant buyer.
The property features a large dining deck overlooking the Milwaukee River, along with established interior décor. The sellers operated the restaurant for more than 20 years before retiring, providing continuity of ownership and operating history for a restaurant buyer.
Key Highlights
- 5,500 square feet on a 0.09‑acre property
- Complete remodel completed 20 years ago
- Updated kitchen and bathrooms, with plumbing, electrical, and plaster work addressed
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
$59,648
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
9.19%
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%
$1,192,960
$1.2M
Cap Rate 7%
$852,114
$852.1K
Cap Rate 9%
$662,756
$662.8K
Market Conditions
NOI Build-Up for 5,500 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
$82.5K $15.00/SF
− Vacancy
−$3.0K −$0.54/SF
EGI
$79.5K $14.46/SF
− OpEx
−$19.9K −$3.61/SF
NOI
$59.6K $10.84/SF
Area
Washington County, WI
Vacancy
3.60%
Lease Rate
$15.00 /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%
$1,192,960
Cap Rate 7%
$852,114
Cap Rate 9%
$662,756
Alternative Uses
Best Use
Specialty Retail
$852.1K
$745.6K – $994.1K
NOI $59,648 @ 7.0% cap · market cap 9.19%
Second Best
Industrial
$286.1K
$250.4K – $333.8K
NOI $20,028 @ 7.0% cap · market cap 3.09%
Theoretical Best
Office A
$1.51M
$1.32M – $1.76M
NOI $105,842 @ 7.0% cap · market cap 16.31%
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
880
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 53095, WI
27,269
Population
12,741
Households
2.1
Avg Household Size
45
Median Age
32%
College-Educated
96%
High-School Grad
70.4 sq mi
ZIP Area
387
Density / Sq Mi
$82,219
Median Household Income
$49,779
Median Earnings
$1,015
Median Rent
$286,500
Median Home Value
Market
Vacancy Rate% for Industrial 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?
Conventional restaurant - Remodeled restaurant with updated kitchen, bathrooms, brewing equipment, and a dining deck overlooking the Milwaukee River.
Where is this conventional restaurant located?
The property is located at 255 S Main St West Bend, WI.
What is the asking price?
The asking price for this property is $649,000.
What are key features of this property?
This property features: 5,500 square feet on a 0.09‑acre property; Complete remodel completed 20 years ago; Updated kitchen and bathrooms, with plumbing, electrical, and plaster work addressed
