Sign Up Successful!
You now have access to more from Realmo!
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    N4494 State Highway 42 Kewaunee, WI 54216

    Sponsored
    For Sale
    $368,590

    Turnkey Business, Excellent Income, 3,725 sq ft

    Property size:
    3,725 SF

    Description

    Added:
    Feb 3, 2025
    Days on Market:
    368
    This exceptional turnkey business opportunity presents a well-established bar and restaurant located just north of Kewaunee, Wisconsin, and a convenient 30-minute drive to Door County. Operating since the 1930s, this profitable establishment boasts a loyal clientele and consistent year-round income. The spacious 3,725 square foot building sits on a 1.16-acre lot and features a fully equipped commercial kitchen, including a Blodgett commercial pizza oven, a full stainless steel natural gas range, several stainless steel upright refrigerators, and three walk-in coolers (two currently in use). Additional kitchen equipment includes an ice machine, stainless steel service counter areas, and a commercial oil filter for the fryer. The bar area is fully stocked with bar stools and tables. The dining room comfortably seats 48 patrons. All dining chairs and tables are included in the sale. The upper level of the building is currently undergoing remodeling and will include four bedrooms, a bathroom, kitchen, and living room upon completion. A beautiful backyard complements the property. Leased items, including ice bins, gaming machines, an ATM, and soda/CO2 tanks, will be transferred to the new owner upon completion of all lease agreements, which will be provided prior to closing. This is a rare opportunity to acquire a thriving, long-standing business with significant potential for continued growth and success.

    Property Features for N4494 State Highway 42

    General Information

    Property type
    Other commercial real estate
    Square Feet
    3,725 SF
    Lot Size
    50,530 SF

    Building Details

    Year Built
    1930

    We can help!

    Listing Contact
    Lori Krohn-Johnson

    Learn more

    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Spa & Massage Center Hair Salon Nail Salon Auto Repair Shop

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

    Location Insight

    • Map
    • Local Demand
    City
    Kewaunee
    County
    KEWAUNEE
    State
    Wisconsin
    Longitude
    -87.50101
    Latitude
    44.487

    Nearby Comparable

    • $1,600,000

      Harbor Express Gas Station Business

      Successful convenience store, gas station, and RV camping business for sale.
      202 Milwaukee St, Kewaunee, WI 54216
      View Details
    • $1,600,000
      2,106 SF

      Harbor Express Business Opportunity

      Kewaunee Waterfront Convenience Store & Gas Station
      202 Milwaukee St, Kewaunee, WI 54216
      View Details
    • $1,600,000
      2,106 SF

      Harbor Express Gas Station Retail

      Successful convenience store/gas station with food service and RV camping.
      202 Milwaukee St, Kewaunee, WI 54216
      View Details
    • $315,000
      4,645 SF

      Turnkey Restaurant with Apartments

      Successful restaurant with apartments in high-traffic downtown location.
      301 Ellis St, Kewaunee, WI 54216
      View Details
    • $315,000

      Turnkey Restaurant with Apartments

      Established restaurant with apartments in high-traffic downtown location for sale.
      301 Ellis St, Kewaunee, WI 54216
      View Details
    • New
      $200,000
      2.00 Acres

      Land Near Lake Michigan

      Two-acre recreational land near Lake Michigan.
      E5121 Lovers Ln, Kewaunee, WI 54216
      View Details
    • $99,900
      5,940 SF

      Historic Dance Hall For Sale

      Expansive commercial property with living quarters and highway visibility.
      E4598 Hwy 42, Kewaunee, WI 54216
      View Details
    • $249,900
      5,940 SF

      Historic Dance Hall with Pole Building

      Commercial property featuring a historic dance hall and pole building.
      E4598 Hwy 42, Kewaunee, WI 54216
      View Details
    • $225,000
      990 SF

      Lakefront 1-Bedroom Unit

      Charming 1-bedroom unit with direct lake access.
      150 Summit Beach Dr, Algoma, WI 54201
      View Details
    • $189,900

      Turn-Key Restaurant on Highway 42

      Free-standing restaurant with equipment included, near downtown Algoma.
      2217 Lake St, Algoma, WI 54201
      View Details
    • $155,000
      5.06 Acres

      Waterfront Land on Ahnapee River

      5.06 acres with 804 feet of river frontage.
      2 Elder Dr, Algoma, WI 54201
      View Details

    Nearby Similar for Sale

    • $1,600,000
      2,106 SF

      Harbor Express Gas Station Retail

      Successful convenience store/gas station with food service and RV camping.
      202 Milwaukee St, Kewaunee, WI 54216
      View Details
    • $315,000
      4,645 SF

      Turnkey Restaurant with Apartments

      Successful restaurant with apartments in high-traffic downtown location.
      301 Ellis St, Kewaunee, WI 54216
      View Details
    • $249,900
      5,940 SF

      Historic Dance Hall with Pole Building

      Commercial property featuring a historic dance hall and pole building.
      E4598 Hwy 42, Kewaunee, WI 54216
      View Details
    • $99,900
      5,940 SF

      Historic Dance Hall For Sale

      Expansive commercial property with living quarters and highway visibility.
      E4598 Hwy 42, Kewaunee, WI 54216
      View Details
    • $1,600,000

      Harbor Express Gas Station Business

      Successful convenience store, gas station, and RV camping business for sale.
      202 Milwaukee St, Kewaunee, WI 54216
      View Details
    • $315,000

      Turnkey Restaurant with Apartments

      Established restaurant with apartments in high-traffic downtown location for sale.
      301 Ellis St, Kewaunee, WI 54216
      View Details
    • $1,600,000
      2,106 SF

      Harbor Express Business Opportunity

      Kewaunee Waterfront Convenience Store & Gas Station
      202 Milwaukee St, Kewaunee, WI 54216
      View Details

    FAQs

    What type of property is this?
    Commercial real estate - Turnkey Business, Excellent Income, 3,725 sq ft
    Where is this commercial real estate located?
    The property is located at N4494 State Highway 42 Kewaunee, WI.
    What is the asking price?
    The asking price for this property is $368,590.
    (920) 993-7007
    Request Owner's contact information
    N4494 State Highway 42 Kewaunee, WI 54216
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    N4494 State Highway 42
    Kewaunee, WI 54216
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    N4494 State Highway 42 Kewaunee, WI 54216
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    Lori Krohn-Johnson
    (920) 993-7007
    Learn more
    Google sign-in failed. Please try again or use another login method.