Turnkey Tavern and Event
For Sale
$879,000
8205 Klevenville Riley Rd, Verona, WI 53593
Riley Tavern includes tavern operations plus covered outdoor event space and event rooms suited for gatherings.
Property Size6,059 SF
Price / SF$145.07
Days on Market44
Property Features for 8205 Klevenville Riley Rd
General Information
Standard status
Active
Size
6,059 SF
Additional Details
Business Included
Yes
Building Details
Year Built
999
Stories
2
Listing Agency:
First Weber Hedeman Group
(608) 325-2000
Listed By:
Joel Hedeman · License #5649390158310
Source:
Soldinmadison
Added: Jul 18
Changed: Aug 23
Last Checked: Aug 29 at 11:45AM
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 First Weber Hedeman Group
Investment Insights
Based on property information with market context.
Riley Tavern is an established, turnkey hospitality operation offering tavern service along with multiple event and entertainment areas. The outdoor space includes a covered front porch, a 75 x 90 green space, and a detached event space with roll-up garage doors and an additional covered patio. Indoor amenities include a game room and an indoor garden-themed room.
The property also features event and gathering accommodations, and the second floor includes two beds, two baths, offices, and a living area.
The business is presented as ready for new ownership, with the combination of tavern space and dedicated event facilities designed to support year-round use.
The property also features event and gathering accommodations, and the second floor includes two beds, two baths, offices, and a living area.
The business is presented as ready for new ownership, with the combination of tavern space and dedicated event facilities designed to support year-round use.
Key Highlights
- Established Riley Tavern operating since 1948 with tavern operations and gathering‑focused spaces
- Outdoor space includes a covered front porch, a 75 x 90 green space, and a detached event space with roll‑up garage doors
- Detached event area also features another covered patio, plus a game room and an indoor garden‑themed room
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
$77,379
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
8.80%
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%
$1,547,580
$1.5M
Cap Rate 7%
$1,105,414
$1.1M
Cap Rate 9%
$859,767
$859.8K
Market Conditions
NOI Build-Up for 6,059 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
$109.1K $18.00/SF
− Vacancy
−$5.9K −$0.97/SF
EGI
$103.2K $17.03/SF
− OpEx
−$25.8K −$4.26/SF
NOI
$77.4K $12.77/SF
Area
Dane County, WI
Vacancy
5.40%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
25.00%
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%
$1,547,580
Cap Rate 7%
$1,105,414
Cap Rate 9%
$859,767
Alternative Uses
Best Use
Specialty Retail
$1.11M
$967.2K – $1.29M
NOI $77,379 @ 7.0% cap · market cap 8.80%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.41M
$1.23M – $1.64M
NOI $98,559 @ 7.0% cap · market cap 11.21%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
11
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 53593, WI
28,232
Population
12,583
Households
2.2
Avg Household Size
37
Median Age
68%
College-Educated
99%
High-School Grad
76.2 sq mi
ZIP Area
370
Density / Sq Mi
$135,699
Median Household Income
$74,356
Median Earnings
$1,530
Median Rent
$464,700
Median Home Value
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Riley Tavern — 8205 Klevenville-Riley Rd, Verona, WI 53593
Frequently Asked Questions
What type of property is this?
Bar & Pub - Riley Tavern includes tavern operations plus covered outdoor event space and event rooms suited for gatherings.
Where is this bar & pub located?
The property is located at 8205 Klevenville Riley Rd Verona, WI.
What is the asking price?
The asking price for this property is $879,000.
What are key features of this property?
This property features: Established Riley Tavern operating since 1948 with tavern operations and gathering‑focused spaces; Outdoor space includes a covered front porch, a 75 x 90 green space, and a detached event space with roll‑up garage doors; Detached event area also features another covered patio, plus a game room and an indoor garden‑themed room
