Restaurant Building with
For Sale
$192,000
1429 S Main St, Oshkosh, WI 54902
Food-and-beverage-ready commercial space with on-site parking, a rear patio, and an existing liquor license.
Property Size1,116 SF
Price / SF$172.04
Days on Market42
Property Features for 1429 S Main St
General Information
Standard status
Active
Size
1,116 SF
Additional Details
Patio
Yes
Building Details
Year Built
1947
Listing Agency:
First Weber, Inc.
(920) 570-0777
Listed By:
Jennifer J. Flanigan
Source:
Moving2greenbay
Added: Jul 20
Changed: Aug 29
Last Checked: Aug 25 at 5:12AM
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, Inc.
Investment Insights
Based on property information with market context.
This 1,116-square-foot conventional restaurant property was built in 1947 and includes an attached parking lot and rear patio. The building is configured for food-and-beverage operations, while the existing liquor license supports continued restaurant or bar use. Prior occupants included Dairy Queen and Charley Biggs.
The property is located at 1429 S Main St in Oshkosh, near the Herd Arena and the water. Its downtown setting, on-site parking, and outdoor patio provide a practical foundation for a restaurant, bar, or other hospitality concept. The building can also be adapted for a different commercial direction, subject to applicable requirements.
The property is located at 1429 S Main St in Oshkosh, near the Herd Arena and the water. Its downtown setting, on-site parking, and outdoor patio provide a practical foundation for a restaurant, bar, or other hospitality concept. The building can also be adapted for a different commercial direction, subject to applicable requirements.
Key Highlights
- 1,116‑square‑foot restaurant building constructed in 1947
- Existing liquor license in place
- Attached on‑site parking lot
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
$15,044
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
7.84%
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%
$300,880
$300.9K
Cap Rate 7%
$214,914
$214.9K
Cap Rate 9%
$167,156
$167.2K
Market Conditions
NOI Build-Up for 1,116 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
$21.2K $18.96/SF
− Vacancy
−$1.1K −$0.99/SF
EGI
$20.1K $17.97/SF
− OpEx
−$5.0K −$4.49/SF
NOI
$15.0K $13.48/SF
Area
Winnebago County, WI
Vacancy
5.20%
Lease Rate
$18.96 /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%
$300,880
Cap Rate 7%
$214,914
Cap Rate 9%
$167,156
Alternative Uses
Best Use
Specialty Retail
$214.9K
$188.1K – $250.7K
NOI $15,044 @ 7.0% cap · market cap 7.84%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$240.9K
$210.8K – $281.0K
NOI $16,861 @ 7.0% cap · market cap 8.78%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
481
Businesses Nearby
152k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 45%
Groceries 32%
Shops & Services 19%
Electronics 2%
Pick 'n Save
Groceries
37,062 visits/mo
0.5 miles
McDonald's
Dining
29,650 visits/mo
0.5 miles
Taco Bell
Dining
16,406 visits/mo
0.4 miles
Starbucks
Dining
12,134 visits/mo
0.4 miles
Piggly Wiggly
Groceries
11,551 visits/mo
0.4 miles
Demographics for 54902, WI
22,309
Population
10,800
Households
2.1
Avg Household Size
40
Median Age
27%
College-Educated
94%
High-School Grad
35.0 sq mi
ZIP Area
637
Density / Sq Mi
$64,548
Median Household Income
$41,592
Median Earnings
$859
Median Rent
$163,900
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 - Food-and-beverage-ready commercial space with on-site parking, a rear patio, and an existing liquor license.
Where is this conventional restaurant located?
The property is located at 1429 S Main St Oshkosh, WI.
What is the asking price?
The asking price for this property is $192,000.
What are key features of this property?
This property features: 1,116‑square‑foot restaurant building constructed in 1947; Existing liquor license in place; Attached on‑site parking lot
