Turn-Key Restaurant & Event
For Sale
Contact for pricing
1550 N Farwell Ave, Milwaukee, WI
Restaurant and event space with parking in prime location.
Property Size6,186 SF
Lot Size0.14 Acres
Price / SF$238.44
Days on Market326
Property Features for 1550 N Farwell Ave
General Information
Standard status
Active
Size
6,186 SF
Lot size
0.14 Acres
Property subtype
RETAIL
Listing Agency:
Colliers - Milwaukee
(414) 276-9500
Listed By:
Russell Sagmoen
(414) 278-6810
Source:
Moodyscre
Added: Oct 20, 2025
Changed: Sep 6
Last Checked: Sep 9 at 11:44AM
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 Colliers - Milwaukee
Investment Insights
Based on property information with market context.
This is a turn-key restaurant and event space located on Farwell Avenue in the lower East Side. The property has a capacity of 300 people and includes a parking lot with approximately 25 spaces. It features an approximately 10-foot hood, a walk-in cooler, and a walk-in freezer. The property is 6,186 square feet. Note: This listing is confidential; please do not disturb the employees.
Key Highlights
- Prime lower East Side location along Farwell Ave.
- Rare turn‑key restaurant & event space.
- Includes parking lot with Approx. 25 spaces.
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
$75,884
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
5.14%
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%
$1,517,680
$1.5M
Cap Rate 7%
$1,084,057
$1.1M
Cap Rate 9%
$843,156
$843.2K
Market Conditions
NOI Build-Up for 6,186 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
$107.6K $17.40/SF
− Vacancy
−$6.5K −$1.04/SF
EGI
$101.2K $16.36/SF
− OpEx
−$25.3K −$4.09/SF
NOI
$75.9K $12.27/SF
Area
Milwaukee, WI
Vacancy
6.00%
Lease Rate
$17.40 /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%
$1,517,680
Cap Rate 7%
$1,084,057
Cap Rate 9%
$843,156
Alternative Uses
Best Use
Specialty Retail
$1.08M
$948.6K – $1.26M
NOI $75,884 @ 7.0% cap · market cap 5.14%
Second Best
Retail
$927.0K
$811.1K – $1.08M
NOI $64,888 @ 7.0% cap · market cap 4.40%
Theoretical Best
Office A
$1.49M
$1.30M – $1.73M
NOI $104,058 @ 7.0% cap · market cap 7.05%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
1,744
Businesses Nearby
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Business Placement
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Retail in Milwaukee, WI
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Frequently Asked Questions
What type of property is this?
Turn key restaurant - Restaurant and event space with parking in prime location.
Where is this turn key restaurant located?
The property is located at 1550 N Farwell Ave Milwaukee, WI.
What is the asking price?
The asking price for this property is $1,475,000.
What are key features of this property?
This property features: Prime lower East Side location along Farwell Ave.; Rare turn‑key restaurant & event space.; Includes parking lot with Approx. 25 spaces.
