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    Restaurant and Event Center For Sale Title is generated by Realmo AI

    5234 HWY 51, Mercer, WI 54547

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    Claim this Listing
    For Sale
    $697,000

    COMMERCIAL - Mercer, WI

    Lot size:
    0.56 Acres
    Added:
    Jun 23, 2025
    Days on Market:
    349
    Last Refresh:
    Jun 6 at 6:06 am

    Property Features for 5234 HWY 51

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Exterior features
    Landscaping
    Standard status
    Active
    APN
    012-3063-00000000
    Lot size
    0.56 Acres

    Taxes and HOA fees

    Tax Year
    2025
    Tax Description
    BLK 3 LTS 14-16 VILLAGE OF MERCER PLAT DOC 150999 TEMP LIM EASEMENT
    Tax Annual Amount
    4024

    Utilities

    Sewer type
    Public Sewer
    Heating system
    Natural Gas, Forced Air
    Water source
    Public

    Building Details

    Floors in Building
    1
    Flooring type
    Concrete
    Building materials
    Frame, ShingleSiding, Stone, WoodSiding
    Roof type
    Metal
    Additional Structures
    Outbuilding

    We can help!

    Listing Contact
    LINDA LONG TEAM
    LINDA LONG TEAM

    Listing agent LINDA LONG TEAM License #54872 - 90

    Listing office REDMAN REALTY GROUP, LLC 231 Oneida St PO Box 1287, Minocqua, WI

    Listing date Jun 23, 2025

    MLS# 212803 Listing URL

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

    HighLights

    • Multiple Revenue Streams: Restaurant, bar, outdoor area, Tiki Bar, ice cream parlor, events, weddings, and farmers market.
    • Prime Location: Downtown Mercer with ample parking and direct access to snowmobile/ATV trails.
    • Established Business: Popular restaurant and event center with a proven track record.
    • Unique Outdoor Entertainment Area: Features a Tiki Bar, outdoor kitchen, fire pit, bandstand, and dance floor.
    • Adaptable Seasonal Features: Enclosed Tiki Bar transforms into an Ice Bar for winter.
    • Complete Infrastructure: Includes bathrooms, landscaping, and essential utilities (natural gas, public water/sewer).

    Overview

    The Pines Restaurant and Event Center is a commercial property located in downtown Mercer, WI. This property features a restaurant and bar, along with an outdoor area that includes a Tiki Bar, outdoor kitchen, bathrooms, and a fire pit area with seating. A bandstand and dance floor accommodate live bands and music, which are currently offered weekly from Friday to Sunday. A weekly farmers market is held in the garden. The property also includes an ice cream parlor. During the winter, the Tiki Bar is enclosed and becomes an Ice Bar. The property is situated on 0.5579 acres and offers parking, with snowmobile and ATV trails accessible from the back door. The property is suitable for private events and weddings.
    Property Profile Location Intelligence

    Current Use by Public Records

    Bars & Pubs

    Suggested Use

    Building Supply Auto Parts Store Storage Facility Spa & Massage Center Skin Care Clinic Kitchen & Bath Showroom Furniture & Home Goods Cafe & Coffee Shop Bakery Pet Store

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

    Similar Places Nearby

    • Liberty Way Tap House — 2040 Saarnio Rd, Mercer, WI 54547

    Location Insight

    • Map
    • Local Demand
    City
    Mercer
    County
    State
    Wisconsin
    Longitude
    -90.0650543
    Latitude
    46.1665762

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    FAQs

    What type of property is this?
    Bar & Pub - Popular restaurant, bar, and event center in downtown Mercer, WI.
    Where is this bar & pub located?
    The property is located at 5234 HWY 51 Mercer, WI.
    What is the asking price?
    The asking price for this property is $697,000.
    What are key features of this property?
    This property features: Multiple Revenue Streams: Restaurant, bar, outdoor area, Tiki Bar, ice cream parlor, events, weddings, and farmers market.; Prime Location: Downtown Mercer with ample parking and direct access to snowmobile/ATV trails.; Established Business: Popular restaurant and event center with a proven track record.
    (715) 543-2544
    We can help!
    Listing Contact
    LINDA LONG TEAM
    LINDA LONG TEAM
    Real Estate License ID: 54872 - 90
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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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