Mixed-Use Restaurant with Lakeside
11580 E Waterfront Drive, Lake Nebagamon, WI 54849
For Sale
New
$925,000
CommercialSale, Lake Nebagamon, WI
Property Size3,256 SF
Lot Size0.28 Acres
Price / SF$284.09
Days on Market1
Property Features for 11580 E Waterfront Drive
General Information
Property type
Property subtype
Zoning description
Rooms
Elementary school district
Middle school district
High school district
Directions
Standard status
APN
Size
Lot size
Tenancy & Operations
Currently Operating
Business Included
Additional Details
Automotive Uses
Taxes and HOA fees
Tax Year
Tax Description
Tax Annual Amount
Legal Description
Utilities
Sewer type
Heating system
Cooling system
Water source
Water front features
Water front
Amenities
lakeside deck
dock
commercial kitchen
owner's residence
Building Details
Year built
Building materials
Listing Agency:
Area North Realty Inc
(715) 634-3522
Listed By:
Elliott Hough · License WI 90925-94
(715) 979-1267
Added: Nov 13
Last Checked: Nov 13 at 11:06PM
MLS# 1606636
Copyright © 2026 REALTORS® Association of Northwestern Wisconsin. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
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Investment Insights
Based on property information with market context.
This 3,256-square-foot mixed-use property combines a restaurant and bar with an updated second-floor residence. The dining and bar areas connect with a commercial kitchen equipped with appliances and substantial cooler capacity. The residence includes a bedroom, living room, full bathroom, laundry, stainless steel appliances, granite countertops, and a private deck. Restaurant operating equipment is included in the sale.
The property occupies a 0.28-acre lakefront site on Lake Nebagamon. A large deck faces the water, and the site also has a full dock system and a fueling station. Street parking and recreational vehicle access are available. Built in 1940, the building has forced-air heat, ductless and central air conditioning, private well water, and public sewer.
The property occupies a 0.28-acre lakefront site on Lake Nebagamon. A large deck faces the water, and the site also has a full dock system and a fueling station. Street parking and recreational vehicle access are available. Built in 1940, the building has forced-air heat, ductless and central air conditioning, private well water, and public sewer.
Key Highlights
- 3,256‑square‑foot mixed‑use property on a 0.28‑acre lakefront site
- Restaurant and bar with commercial kitchen appliances and cooler capacity
- Second‑floor residence with bedroom, living room, full bath, laundry, and private deck
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$71,861
Cap Rate
7.77%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,437,220
$1.4M
Cap Rate 7%
$1,026,586
$1.0M
Cap Rate 9%
$798,456
$798.5K
Market Conditions
NOI Build-Up for 3,256 SF
Gross rent
$98.1K $30.12/SF
− Vacancy
−$2.3K −$0.69/SF
EGI
$95.8K $29.43/SF
− OpEx
−$24.0K −$7.36/SF
NOI
$71.9K $22.07/SF
Area
Douglas County, WI
Vacancy
2.30%
Lease Rate
$30.12 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,437,220
Cap Rate 7%
$1,026,586
Cap Rate 9%
$798,456
Alternative Uses
Best Use
Specialty Retail
$1.03M
$898.3K – $1.20M
NOI $71,861 @ 7.0% cap · market cap 7.77%
Second Best
Mixed Use
$471.0K
$412.1K – $549.5K
NOI $32,967 @ 7.0% cap · market cap 3.56%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Current Use
Lease Details
Turnkey business
Opportunity
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
81
Businesses Nearby
2k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 100%
Cenex
Shops & Services
1,631 visits/mo
0.2 miles
Demographics for 54849, WI
1,967
Population
1,276
Households
1.5
Avg Household Size
50
Median Age
32%
College-Educated
96%
High-School Grad
86.7 sq mi
ZIP Area
23
Density / Sq Mi
$77,353
Median Household Income
$46,726
Median Earnings
$838
Median Rent
$254,200
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in Midwest region
Frequently Asked Questions
What type of property is this?
Mixed-use property - Waterfront dining space includes a second-floor residence, dock system, and on-site fuel service.
Where is this mixed-use property located?
The property is located at 11580 E Waterfront Drive Lake Nebagamon, WI.
What is the asking price?
The asking price for this property is $925,000.
What are key features of this property?
This property features: 3,256‑square‑foot mixed‑use property on a 0.28‑acre lakefront site; Restaurant and bar with commercial kitchen appliances and cooler capacity; Second‑floor residence with bedroom, living room, full bath, laundry, and private deck
