Building Details

Building Size 3,160 SF

Year Built 1994

Listing Agency: EXP Realty, LLC l***@exprealty.com Show Phone

Listed By: Lori Seipel · License #54041-94 Show Phone

Source: Loriseipel.exprealty

Added: Jul 10 Changed: Aug 8 Last Checked: Jul 28 at 3:41AM

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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 EXP Realty, LLC

Investment Insights

Based on property information with market context.

This well-established, turn-key bar and restaurant is set up for immediate operation and includes bar seating for 14 plus table seating for 42 in the bar area, along with a separate dining room. The commercial kitchen has been updated in recent years and is equipped with multiple newer appliances, including an updated Ansul/exhaust system, commercial dishwasher, fryers, smoker, and other kitchen equipment. The property also includes a recently updated 2-bedroom, year-round cabin.

Operational momentum is supported by direct access to ATV/UTV routes and convenient snowmobile trail access leading to the property. An adjacent seasonal campground operates at full occupancy with 78 campsites, and a LP Gas filling station is also located on-site.

Overall, the configuration combines an indoor hospitality venue with dedicated on-site recreational access and additional income-producing components, providing a fully functional hospitality business setup for a new owner.

Key Highlights

• 1994‑built bar and restaurant with 3,160 sq ft total building area
• Seating for 14 at the bar plus table seating for 42 in the bar area, plus a separate dining room
• Commercial kitchen with updates including newer appliances and an updated Ansul/exhaust system

Financial Insights

Estimated NOI and Cap Rate

NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).

NOI / Yr

$12,772

Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.

Cap Rate

3.60%

Suggested Prices Based on Cap Rates Cap rates vary significantly by property type, market, and asset quality. Typical U.S. stable-market ranges: Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+) Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand) Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically) Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher) Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk) Self-Storage — 5.5% to 7.5% Medical Office — 6.0% to 7.5% Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term Rules of thumb: Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%). Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C. Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI. Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.

Cap Rate 5%

$255,440 $255.4K

Cap Rate 7%

$182,457 $182.5K

Cap Rate 9%

$141,911 $141.9K

Market Conditions

NOI Build-Up for 3,160 SF Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent. EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs. OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements. NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.

Gross rent

$18.6K $5.88/SF

− Vacancy

−$334 −$0.11/SF

EGI

$18.2K $5.77/SF

− OpEx

−$5.5K −$1.73/SF

NOI

$12.8K $4.04/SF

Area

Douglas County, WI

Vacancy

1.80%

Lease Rate

$5.88 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates Cap rates vary significantly by property type, market, and asset quality. Typical U.S. stable-market ranges: Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+) Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand) Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically) Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher) Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk) Self-Storage — 5.5% to 7.5% Medical Office — 6.0% to 7.5% Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term Rules of thumb: Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%). Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C. Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI. Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.

Cap Rate 5%

$255,440

Cap Rate 7%

$182,457

Cap Rate 9%

$141,911

Alternative Uses

Best Use

Specialty Retail

$996.3K

$871.8K – $1.16M (±1% cap)

NOI $69,743 @ 7.0% cap · market cap 19.65%

Second Best

Retail

$554.0K

$484.8K – $646.4K (±1% cap)

NOI $38,781 @ 7.0% cap · market cap 10.93%

Theoretical Best

—

—

same as Best Use

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Property Profile

Current Use

Backwoods Guest House Vacation Rental BackWoods Bar & Grill Restaurant

Lease Details

Turnkey business

Opportunity

Yes

Commercial hood

Location Intelligence

Trade Area within ½ mile

Well-served

Demand for This Use

Explore this area Business Placement

Demographics for 54838, WI

1,481

Population

1,685

Households

0.9

Avg Household Size

59

Median Age

29%

College-Educated

95%

High-School Grad

241.0 sq mi

ZIP Area

6

Density / Sq Mi

$75,000

Median Household Income

$39,554

Median Earnings

$917

Median Rent

$235,700

Median Home Value

Market

Vacancy Rate% for Retail in Midwest region

8% 2020

7.3% 2021

6.5% 2022

6% 2023

5.7% 2024

6.3% 2025

Questions? Ask Rey

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What type of property is this? Where is this bars & pubs located? What is the asking price? Find similar properties ... What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Bar & Pub - Turn-key bar and restaurant with bar and dining room seating, a commercial kitchen, and additional on-site revenue features.

Where is this bar & pub located?

The property is located at 14633 E Mail Road Wascott Gordon, WI.

What is the asking price?

The asking price for this property is $354,900.

What are key features of this property?

This property features: 1994‑built bar and restaurant with 3,160 sq ft total building area; Seating for 14 at the bar plus table seating for 42 in the bar area, plus a separate dining room; Commercial kitchen with updates including newer appliances and an updated Ansul/exhaust system