Equipped Restaurant and
For Sale
$768,000
151 Main St, Sullivan, WI 53178
Established dining operation with a full-service bar and recently updated mechanical systems.
Property Size3,000 SF
Price / SF$256
Days on Market76
Property Features for 151 Main St
General Information
Standard status
Active
Size
3,000 SF
Property subtype
Commercial
Additional Details
Business Included
Yes
Equipment Included
Yes
Building Details
Year Built
1900
Listing Agency:
Berkshire Hathaway HS Lake Country
Listed By:
Brian Fendry · License #4282090
(262) 439-8897
Source:
Viewhomesinwisconsin
Added: Jul 31
Changed: Oct 1
Last Checked: Oct 12 at 7:56PM
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 Berkshire Hathaway HS Lake Country
Investment Insights
Based on property information with market context.
Located at 151 Main St in Sullivan, WI, this conventional restaurant offering includes a full-service bar, installed equipment, and an established operating business. The current owner is retiring, providing a transition opportunity for a buyer seeking an existing restaurant and bar configuration.
The building was constructed in 1900, with mechanical systems updated over the last few years. The operation has developed a consistent customer following, and P&L statements are available to qualified buyers after execution of a Non-Disclosure Agreement. The offering combines an operating restaurant, bar infrastructure, equipment, and an established customer base.
The building was constructed in 1900, with mechanical systems updated over the last few years. The operation has developed a consistent customer following, and P&L statements are available to qualified buyers after execution of a Non-Disclosure Agreement. The offering combines an operating restaurant, bar infrastructure, equipment, and an established customer base.
Key Highlights
- Full‑service restaurant and bar operation
- Equipment is already in place
- Mechanical systems updated over the last few years
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$29,229
Cap Rate
3.81%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$584,580
$584.6K
Cap Rate 7%
$417,557
$417.6K
Cap Rate 9%
$324,767
$324.8K
Market Conditions
NOI Build-Up for 3,000 SF
Gross rent
$40.7K $13.56/SF
− Vacancy
−$1.7K −$0.57/SF
EGI
$39.0K $12.99/SF
− OpEx
−$9.7K −$3.25/SF
NOI
$29.2K $9.74/SF
Area
Jefferson County, WI
Vacancy
4.20%
Lease Rate
$13.56 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$584,580
Cap Rate 7%
$417,557
Cap Rate 9%
$324,767
Alternative Uses
Best Use
Specialty Retail
$417.6K
$365.4K – $487.2K
NOI $29,229 @ 7.0% cap · market cap 3.81%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$704.2K
$616.1K – $821.5K
NOI $49,291 @ 7.0% cap · market cap 6.42%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Open Analytics
Current Use
Lease Details
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
86
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 53178, WI
2,703
Population
1,184
Households
2.3
Avg Household Size
48
Median Age
24%
College-Educated
93%
High-School Grad
31.9 sq mi
ZIP Area
85
Density / Sq Mi
$94,522
Median Household Income
$47,986
Median Earnings
$847
Median Rent
$337,800
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Retail in Midwest region
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Frequently Asked Questions
What type of property is this?
Conventional restaurant - Established dining operation with a full-service bar and recently updated mechanical systems.
Where is this conventional restaurant located?
The property is located at 151 Main St Sullivan, WI.
What is the asking price?
The asking price for this property is $768,000.
What are key features of this property?
This property features: Full‑service restaurant and bar operation; Equipment is already in place; Mechanical systems updated over the last few years
