Restaurant Bar with Liquor
For Sale
$695,000
121 N 10th St, De Pere, WI 54115
Bar and restaurant real estate with bar room, open concept layout, central air, and a liquor license included.
Property Size3,008 SF
Price / SF$231.05
Days on Market41
Property Features for 121 N 10th St
General Information
Standard status
Active
Size
3,008 SF
Total Parking Spaces
50
Additional Details
Business Included
Yes
Highway Access
Yes
Liquor License
Yes
Amenities
4 bathrooms
large open concept
bar room
extra bonus room for private parties
2 bonus rooms in basement
Building Details
Year Built
1989
Listing Agency:
Mark D Olejniczak Realty, Inc.
(920) 265-4367
Listed By:
Mark D. Olejniczak · License #9475751
Source:
Smartteamhomes
Added: Jul 21
Changed: Aug 13
Last Checked: Aug 29 at 12:21PM
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 Mark D Olejniczak Realty, Inc.
Investment Insights
Based on property information with market context.
For sale, the real estate and business known as Old #7, including the associated liquor license. The property features a large open concept main space with a bar room, plus an additional bonus room designed for private parties. The layout also includes multiple bathrooms and two bonus rooms in the basement.
The building has gas heat and central air conditioning, with an asphalt shingle roof. Approximately 50 parking stalls are available for patrons and staff. The property is described as being conveniently located and established, with quick access just minutes off the highway and Lambeau Field.
The sale is offered “As Is, Where Is.” The seller indicates approximately 1,000 square feet in the basement and includes a land contract option with a $195,000 down payment. Please allow 72 hours to present offers for any showing requests.
The building has gas heat and central air conditioning, with an asphalt shingle roof. Approximately 50 parking stalls are available for patrons and staff. The property is described as being conveniently located and established, with quick access just minutes off the highway and Lambeau Field.
The sale is offered “As Is, Where Is.” The seller indicates approximately 1,000 square feet in the basement and includes a land contract option with a $195,000 down payment. Please allow 72 hours to present offers for any showing requests.
Key Highlights
- Bar and restaurant real estate for sale, including the business known as Old #7
- 4 bathrooms with a large open concept layout plus bar room and a bonus room for private parties
- Gas heat, central air conditioning, and an asphalt shingle roof
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
$39,552
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
5.69%
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%
$791,040
$791.0K
Cap Rate 7%
$565,029
$565.0K
Cap Rate 9%
$439,467
$439.5K
Market Conditions
NOI Build-Up for 3,008 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
$54.1K $18.00/SF
− Vacancy
−$1.4K −$0.47/SF
EGI
$52.7K $17.53/SF
− OpEx
−$13.2K −$4.38/SF
NOI
$39.6K $13.15/SF
Area
Brown County, WI
Vacancy
2.60%
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%
$791,040
Cap Rate 7%
$565,029
Cap Rate 9%
$439,467
Alternative Uses
Best Use
Specialty Retail
$565.0K
$494.4K – $659.2K
NOI $39,552 @ 7.0% cap · market cap 5.69%
Second Best
—
—
no second resolved use
Theoretical Best
Warehouse
$2.52M
$2.20M – $2.93M
NOI $176,070 @ 7.0% cap · market cap 25.33%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Turnkey business
Opportunity
Yes
Highway access
Yes
Liquor license
Location Intelligence
Trade Area within ½ mile
376
Businesses Nearby
87k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 54%
Groceries 30%
Shops & Services 15%
Home Improvements & Furnishings 1%
McDonald's
Dining
26,411 visits/mo
0.1 miles
Aldi
Groceries
25,688 visits/mo
0.1 miles
Starbucks
Dining
8,311 visits/mo
0.1 miles
BP
Shops & Services
7,508 visits/mo
0.3 miles
Taco Bell
Dining
6,939 visits/mo
0.3 miles
Demographics for 54115, WI
48,710
Population
20,415
Households
2.4
Avg Household Size
37
Median Age
40%
College-Educated
96%
High-School Grad
124.0 sq mi
ZIP Area
393
Density / Sq Mi
$92,023
Median Household Income
$46,843
Median Earnings
$1,071
Median Rent
$307,800
Median Home Value
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
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Similar Off Market Nearby
- Brickhouse Craft Burgers & Brews — 500 Grant St, De Pere, WI 54115
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- Baba Louies — 419 Main Ave, De Pere, WI 54115
- Sidekicks Bar & Grill — 930 Main Ave, De Pere, WI 54115
- Old No 7 — 121 N 10th St, De Pere, WI 54115
Frequently Asked Questions
What type of property is this?
Bar & Pub - Bar and restaurant real estate with bar room, open concept layout, central air, and a liquor license included.
Where is this bar & pub located?
The property is located at 121 N 10th St De Pere, WI.
What is the asking price?
The asking price for this property is $695,000.
What are key features of this property?
This property features: Bar and restaurant real estate for sale, including the business known as Old #7; 4 bathrooms with a large open concept layout plus bar room and a bonus room for private parties; Gas heat, central air conditioning, and an asphalt shingle roof
