Waterfront Restaurant
For Sale
$1,500,000
W299 S10545 Phantom Woods Rd, Mukwonago, WI 53149
Restaurant and bar with waterfront access, piers, a private boat launch, and indoor and outdoor seating.
Property Size3,943 SF
Days on Market33
Property Features for W299 S10545 Phantom Woods Rd
General Information
Standard status
Active
Size
3,943 SF
Property subtype
Restaurant
Additional Details
Patio
Yes
Amenities
piers
private boat launch
Building Details
Building Size
3,943 SF
Year Built
1960
Listing Agency:
Anderson Commercial Group
Listed By:
Craig Friemoth · License #9479063
(414) 858-5205
Source:
Thebrokerlist
Added: Sep 4
Changed: Oct 4
Last Checked: Oct 5 at 3:09PM
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 Anderson Commercial Group
Investment Insights
Based on property information with market context.
This restaurant and bar property combines a commercial dining operation with waterfront improvements and upper-level living space. The building includes a kitchen, indoor and outdoor seating, parking, and 3BR/1BA quarters of approximately 1,800 SF. The property was built in 1960.
Located along Phantom Woods Rd in Mukwonago, Wisconsin, the site offers approximately 240 feet of frontage on a recreational lake covering nearly 500 acres. Piers and a private boat launch support direct water access, while seasonal boat-slip rentals provide an additional use. The surrounding population exceeds 23,000 within 5 miles.
Located along Phantom Woods Rd in Mukwonago, Wisconsin, the site offers approximately 240 feet of frontage on a recreational lake covering nearly 500 acres. Piers and a private boat launch support direct water access, while seasonal boat-slip rentals provide an additional use. The surrounding population exceeds 23,000 within 5 miles.
Key Highlights
- Approximately +/- 240 feet of lake frontage on nearly 500 acres of water
- Piers and a private boat launch provide direct waterfront access
- Restaurant/bar setup with kitchen, indoor and outdoor seating
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$85,524
Cap Rate
5.70%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,710,480
$1.7M
Cap Rate 7%
$1,221,771
$1.2M
Cap Rate 9%
$950,267
$950.3K
Market Conditions
NOI Build-Up for 3,943 SF
Gross rent
$118.3K $30.00/SF
− Vacancy
−$4.3K −$1.08/SF
EGI
$114.0K $28.92/SF
− OpEx
−$28.5K −$7.23/SF
NOI
$85.5K $21.69/SF
Area
Waukesha County, WI
Vacancy
3.60%
Lease Rate
$30.00 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,710,480
Cap Rate 7%
$1,221,771
Cap Rate 9%
$950,267
Alternative Uses
Best Use
Specialty Retail
$1.22M
$1.07M – $1.43M
NOI $85,524 @ 7.0% cap · market cap 5.70%
Second Best
Mixed Use
$669.2K
$585.5K – $780.7K
NOI $46,843 @ 7.0% cap · market cap 3.12%
Theoretical Best
Flex RnD
$2.01M
$1.76M – $2.35M
NOI $140,867 @ 7.0% cap · market cap 9.39%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
95
Businesses Nearby
2k
Monthly Visits Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 100%
Lynch Ford Of Mukwonago
Shops & Services
1,691 visits/mo
0.5 miles
Demographics for 53149, WI
19,644
Population
7,585
Households
2.6
Avg Household Size
43
Median Age
40%
College-Educated
98%
High-School Grad
57.9 sq mi
ZIP Area
339
Density / Sq Mi
$112,653
Median Household Income
$53,449
Median Earnings
$1,100
Median Rent
$384,600
Median Home Value
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Conventional restaurant - Restaurant and bar with waterfront access, piers, a private boat launch, and indoor and outdoor seating.
Where is this conventional restaurant located?
The property is located at W299 S10545 Phantom Woods Rd Mukwonago, WI.
What is the asking price?
The asking price for this property is $1,500,000.
What are key features of this property?
This property features: Approximately +/- 240 feet of lake frontage on nearly 500 acres of water; Piers and a private boat launch provide direct waterfront access; Restaurant/bar setup with kitchen, indoor and outdoor seating
