Two-Unit Restaurant
For Sale
$445,000
1908-1910 Tower Ave, Superior, WI 54880
Restaurant property with one leased unit, one available space, and built-in commercial kitchen improvements.
Property Size2,640 SF
Price / SF$168.56
Days on Market8
Property Features for 1908-1910 Tower Ave
General Information
Standard status
Active
Size
2,640 SF
Total Parking Spaces
12
Occupancy
50%
Building Details
Year Built
1958
Buildings
1
Construction
block
Tenancy
Multi
Listing Agency:
RE/MAX Results Duluth
(218) 722-2810
Listed By:
Thomas C Acton
Source:
Tayloronken
Added: Aug 23
Changed: Aug 29
Last Checked: Aug 29 at 10:53AM
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 RE/MAX Results Duluth
Investment Insights
Based on property information with market context.
Built in 1958, this 2,640-square-foot block restaurant building contains two separate units. The south half is vacant, while the opposite unit is leased to Williams Asian Foods. Both spaces have newer gas forced-air furnaces and central air conditioning. The building also features a rubber roof, updated electrical service, a recently replaced sewer lateral, and approximately 12 rear parking spaces.
The restaurant improvements include an Ansul fire-suppression system, prep stations, a dishwasher, and a walk-in cooler. The bathroom has been updated, and the floors received an epoxy coating. The tenant pays all utilities, while ownership pays sewage, garbage, and stormwater expenses. Located at 1908-1910 Tower Ave in Superior, Wisconsin, the property combines an operating restaurant tenancy with additional space for occupancy by a new owner or tenant.
The restaurant improvements include an Ansul fire-suppression system, prep stations, a dishwasher, and a walk-in cooler. The bathroom has been updated, and the floors received an epoxy coating. The tenant pays all utilities, while ownership pays sewage, garbage, and stormwater expenses. Located at 1908-1910 Tower Ave in Superior, Wisconsin, the property combines an operating restaurant tenancy with additional space for occupancy by a new owner or tenant.
Key Highlights
- 2,640‑square‑foot restaurant building constructed in 1958
- Two separate units: one leased to Williams Asian Foods and one vacant
- Commercial kitchen features include an Ansul system, prep stations, dishwasher, and walk‑in cooler
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
$32,399
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
7.28%
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%
$647,980
$648.0K
Cap Rate 7%
$462,843
$462.8K
Cap Rate 9%
$359,989
$360.0K
Market Conditions
NOI Build-Up for 2,640 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
$47.5K $18.00/SF
− Vacancy
−$1.2K −$0.47/SF
EGI
$46.3K $17.53/SF
− OpEx
−$13.9K −$5.26/SF
NOI
$32.4K $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 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%
$647,980
Cap Rate 7%
$462,843
Cap Rate 9%
$359,989
Alternative Uses
Best Use
Specialty Retail
$832.4K
$728.3K – $971.1K
NOI $58,266 @ 7.0% cap · market cap 13.09%
Second Best
Retail
$462.8K
$405.0K – $540.0K
NOI $32,399 @ 7.0% cap · market cap 7.28%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
50%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
756
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 54880, WI
30,400
Population
14,325
Households
2.1
Avg Household Size
39
Median Age
28%
College-Educated
94%
High-School Grad
166.1 sq mi
ZIP Area
183
Density / Sq Mi
$66,942
Median Household Income
$40,813
Median Earnings
$901
Median Rent
$176,700
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.
Frequently Asked Questions
What type of property is this?
Conventional restaurant - Restaurant property with one leased unit, one available space, and built-in commercial kitchen improvements.
Where is this conventional restaurant located?
The property is located at 1908-1910 Tower Ave Superior, WI.
What is the asking price?
The asking price for this property is $445,000.
What are key features of this property?
This property features: 2,640‑square‑foot restaurant building constructed in 1958; Two separate units: one leased to Williams Asian Foods and one vacant; Commercial kitchen features include an Ansul system, prep stations, dishwasher, and walk‑in cooler
