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    Iconic Supper Club Opportunity Title is generated by Realmo AI

    4368 S County Rd E, South Range, WI 54874

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    Claim this Listing
    For Sale
    $840,000

    Restaurant/Bar - South Range, WI

    Property size:
    4,500 SF
    Lot size:
    6.70 Acres
    Price / SF:
    $186/SF
    Added:
    Mar 18, 2026
    Days on Market:
    80
    Last Refresh:
    Jun 5 at 5:06 pm

    Property Features for 4368 S County Rd E

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Bedrooms
    4
    Bathrooms
    1
    Rooms
    Basement, Bathroom 1, Bedroom 1, Bedroom 2, Bedroom 3, Bedroom 4
    Parking features
    Garage, Garage - Detached
    Interior features
    Bar Area, Kitchen Area, Restrooms, Smoke Detectors, Storage, Billboards, Paneled Walls
    Basement Y/N
    1
    Standard status
    Active
    Size
    4,500 SF
    Lot size
    6.70 Acres

    Taxes and HOA fees

    Tax Year
    2026
    Tax Annual Amount
    3534.05

    Utilities

    Heating system
    Propane (Heating)

    Building Details

    Year built
    1924
    Floors in Building
    2
    Number of units
    4
    Roof type
    Metal
    Architectural style
    Other

    We can help!

    Listing Contact
    Tom Acton
    Tom Acton

    Listing agent Tom Acton

    Listing office RE/MAX Results 2520 Maple Grove Road, Duluth, WI

    Listing date Mar 18, 2026

    MLS# 6122810 Listing URL

    Copyright © 2026 Lake Superior Association of REALTORS®. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • Ranked as the #1 Wisconsin supper club in 2023 by Found in Wisconsin.
    • Established in 1927, boasting a long‑standing history and loyal local customer base.
    • Includes a 2‑bedroom apartment perfect for owner occupancy or rental income.
    • 7 acres of wooded land allows for potential expansion.
    • Financial information available with signed confidentiality agreement and letter of intent.
    • Numerous positive online reviews and rankings.

    Overview

    This property presents an opportunity to acquire an established supper club located in Douglas County, specifically in South Range, WI. The restaurant/bar, with a history dating back to 1927, occupies a 4,500-square-foot building and has been recognized as a top Wisconsin supper club. The establishment includes a small two-bedroom apartment situated above the restaurant space, suitable for owner-occupancy or rental. The property is situated on a 6.7-acre lot, offering potential for expansion. The site provides ample parking and includes wooded land. The property's location and features make it suitable for continued operation as a restaurant/bar. Financial information is available to qualified buyers upon signing a confidentiality agreement and letter of intent.
    Property Profile Location Intelligence

    Current Use by Public Records

    Dreamland Supper Club Restaurant

    Suggested Use

    Big Box & Wholesale Store Auto Repair Shop Hotel & Motel Bar & Pub Electrical Service Discount Store Travel Agency

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

    Location Insight

    • Map
    • Local Demand
    City
    South Range
    County
    Douglas
    State
    Wisconsin
    Longitude
    -91.946812
    Latitude
    46.605483

    Nearby Similar for Sale

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      Iconic Supper Club Opportunity

      Established supper club with expansion potential and living quarters.
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    FAQs

    What type of property is this?
    Restaurant - Established restaurant/bar with apartment and expansion potential.
    Where is this restaurant located?
    The property is located at 4368 S County Rd E South Range, WI.
    What is the asking price?
    The asking price for this property is $840,000.
    What are key features of this property?
    This property features: Ranked as the #1 Wisconsin supper club in 2023 by Found in Wisconsin.; Established in 1927, boasting a long‑standing history and loyal local customer base.; Includes a 2‑bedroom apartment perfect for owner occupancy or rental income.
    (218) 310-8859
    We can help!
    Listing Contact
    Tom Acton
    Tom Acton
    Real Estate License ID: 40200615|WI67860-94
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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.

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