Bar and Restaurant with
For Sale
Under Contract
$354,900
14633 E Mail Road, Wascott, WI 54838
CommercialSale, Wascott, WI
Property Size3,160 SF
Lot Size1.61 Acres
Price / SF$112.31
Days on Market64
Property Features for 14633 E Mail Road
General Information
Property type
Commercial Sale
Property subtype
Other
Exterior features
Lighting
Elementary school district
Northwood
Middle school district
Northwood
High school district
Northwood
Directions
From Hwy 53 turn East in Gordon onto County Hwy Y. Follow 7 miles, Right on McCumber Road. Road will turn into E Mail Road. Property will be on the Right.
Standard status
Active Under Contract
APN
WA-032-00062-00
Size
3,160 SF
Lot size
1.61 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
Lot 1 CSM 934 Vol 6 Page 296-7 Subj to ease across N 20" of Parcel for access to adjacent campground.
Tax Annual Amount
2352
Legal Description
Lot 1 CSM 934 Vol 6 Page 296-7 Subj to ease across N 20" of Parcel for access to adjacent campground.
Utilities
Sewer type
Septic Tank
Heating system
Forced Air
Cooling system
Ductless
Water source
Well
Building Details
Year built
1994
Building materials
Log
Listing Agency:
Re/Max 4 Seasons, LLC
(715) 635-6500
Listed By:
Sara Haakenson · License #50283-94
(218) 730-8317
Added: Jun 26
Changed: Aug 19
Last Checked: Aug 28 at 6:06PM
MLS# 1602696
Copyright © 2026 REALTORS® Association of Northwestern Wisconsin. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 3,160-square-foot bar and restaurant was built in 1994 on 1.61 acres. The interior includes bar seating for 14, table seating for 42 in the bar area, a separate dining room, and space for music and local events. The commercial kitchen includes an updated Ansul/exhaust system, commercial dishwasher, fryers, smoker, and other kitchen equipment. A recently updated, year-round two-bedroom cabin adds flexible on-site living or rental use. The property also includes lighting, log construction, forced-air heat, ductless cooling, a well, and a septic tank.
Outdoor access is a central property feature, with ATV/UTV route access, Douglas County roads open for use, and snowmobile trail access leading to the property. An adjacent seasonal campground operates with 78 campsites, while an LP Gas filling station on the property adds another operating component to the site.
Outdoor access is a central property feature, with ATV/UTV route access, Douglas County roads open for use, and snowmobile trail access leading to the property. An adjacent seasonal campground operates with 78 campsites, while an LP Gas filling station on the property adds another operating component to the site.
Key Highlights
- 3,160‑square‑foot bar and restaurant on 1.61 acres
- Bar seating for 14 plus table seating for 42 in the bar area
- Separate dining room and space for music and local events
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
$12,772
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
3.60%
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%
$255,440
$255.4K
Cap Rate 7%
$182,457
$182.5K
Cap Rate 9%
$141,911
$141.9K
Market Conditions
NOI Build-Up for 3,160 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
$18.6K $5.88/SF
− Vacancy
−$334 −$0.11/SF
EGI
$18.2K $5.77/SF
− OpEx
−$5.5K −$1.73/SF
NOI
$12.8K $4.04/SF
Area
Douglas County, WI
Vacancy
1.80%
Lease Rate
$5.88 /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%
$255,440
Cap Rate 7%
$182,457
Cap Rate 9%
$141,911
Alternative Uses
Best Use
Specialty Retail
$996.3K
$871.8K – $1.16M
NOI $69,743 @ 7.0% cap · market cap 19.65%
Second Best
Retail
$554.0K
$484.8K – $646.4K
NOI $38,781 @ 7.0% cap · market cap 10.93%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Turnkey business
Opportunity
Yes
Commercial hood
Location Intelligence
Demographics for 54838, WI
1,481
Population
1,685
Households
0.9
Avg Household Size
59
Median Age
29%
College-Educated
95%
High-School Grad
241.0 sq mi
ZIP Area
6
Density / Sq Mi
$75,000
Median Household Income
$39,554
Median Earnings
$917
Median Rent
$235,700
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?
Bar & Pub - Hospitality property combining bar service, dining areas, a commercial kitchen, and an updated year-round cabin.
Where is this bar & pub located?
The property is located at 14633 E Mail Road Wascott, WI.
What is the asking price?
The asking price for this property is $354,900.
What are key features of this property?
This property features: 3,160‑square‑foot bar and restaurant on 1.61 acres; Bar seating for 14 plus table seating for 42 in the bar area; Separate dining room and space for music and local events
