Prime Location Near University
For Sale
Contact for pricing
403 Belknap St, Superior, WI
Turn-key restaurant or retail opportunity near a thriving university.
Property Size3,800 SF
Lot Size0.43 Acres
Price / SF$235.53
Days on Market591
Property Features for 403 Belknap St
General Information
Standard status
Active
Size
3,800 SF
Lot size
0.43 Acres
Property subtype
RETAIL
Listing Agency:
Greg Follmer Commercial Real Estate
Listed By:
Greg Follmer · License #27078
(218) 310-0013
Source:
Moodyscre
Added: Mar 18, 2025
Changed: Oct 25
Last Checked: Oct 28 at 10:12AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Greg Follmer Commercial Real Estate
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This property is situated directly across the street from the University of Wisconsin-Superior campus. Currently operating as a restaurant, it presents a turn-key opportunity for a new owner. The 3,800 square foot property could also be transformed into a sports bar, retail space, or office to suit various business needs. The location benefits from high visibility.
Key Highlights
- High‑visibility location directly across from a thriving university campus.
- Opportunity for a turn‑key restaurant operation.
- Suitable for transformation into various business types (sports bar, retail, office).
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$46,635
Cap Rate
5.21%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$932,700
$932.7K
Cap Rate 7%
$666,214
$666.2K
Cap Rate 9%
$518,167
$518.2K
Market Conditions
NOI Build-Up for 3,800 SF
Gross rent
$68.4K $18.00/SF
− Vacancy
−$1.8K −$0.47/SF
EGI
$66.6K $17.53/SF
− OpEx
−$20.0K −$5.26/SF
NOI
$46.6K $12.27/SF
Area
Douglas County, WI
Vacancy
2.60%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$932,700
Cap Rate 7%
$666,214
Cap Rate 9%
$518,167
Alternative Uses
Best Use
Specialty Retail
$1.20M
$1.05M – $1.40M
NOI $83,868 @ 7.0% cap · market cap 9.37%
Second Best
Retail
$666.2K
$582.9K – $777.3K
NOI $46,635 @ 7.0% cap · market cap 5.21%
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
Location Intelligence
Trade Area within ½ mile
404
Businesses Nearby
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Business Placement
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?
Turn key restaurant - Turn-key restaurant or retail opportunity near a thriving university.
Where is this turn key restaurant located?
The property is located at 403 Belknap St Superior, WI.
What is the asking price?
The asking price for this property is $895,000.
What are key features of this property?
This property features: High‑visibility location directly across from a thriving university campus.; Opportunity for a turn‑key restaurant operation.; Suitable for transformation into various business types (sports bar, retail, office).
