Landmark Restaurant
For Sale
$750,000
1658 MAIN ST, Green Bay, WI 54302
Restaurant property with a spacious dining area, fully equipped commercial kitchen, upstairs living unit, storage, and on-site parking.
Property Size12,105 SF
Price / SF$61.96
Days on Market186
Property Features for 1658 MAIN ST
General Information
Standard status
Active
Size
12,105 SF
Property subtype
General Commercial
Additional Details
Business Included
Yes
Taxes and HOA fees
Annual Taxes
$5,748
Amenities
Gas
3
commerical
0.5 to .99
Building Details
Year Built
1936
Listing Agency:
EXP Realty LLC
(866) 848-6990
Listed By:
Zaid Jazrawi · License #91937825
(312) 399-5659
Source:
Xome
Added: Mar 6
Changed: Sep 1
Last Checked: Sep 7 at 4:54AM
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 EXP Realty LLC
Investment Insights
Based on property information with market context.
This restaurant property offers a spacious dining area with classic character, a fully equipped commercial kitchen, and ample storage. In addition to the restaurant space, there is an upstairs living unit, providing extra residential space within the building.
The property is offered for sale as the long-running home of Kroll's East, a well-known establishment in the Green Bay area.
With on-site parking and dedicated kitchen facilities already in place, the building is configured for restaurant operations while also accommodating the included upstairs living unit.
The property is offered for sale as the long-running home of Kroll's East, a well-known establishment in the Green Bay area.
With on-site parking and dedicated kitchen facilities already in place, the building is configured for restaurant operations while also accommodating the included upstairs living unit.
Key Highlights
- Landmark restaurant property in Green Bay, home to Kroll's East
- Spacious dining area with classic character
- Fully equipped commercial kitchen
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
$53,920
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
7.19%
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%
$1,078,400
$1.1M
Cap Rate 7%
$770,286
$770.3K
Cap Rate 9%
$599,111
$599.1K
Market Conditions
NOI Build-Up for 12,105 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
$78.4K $6.48/SF
− Vacancy
−$1.4K −$0.12/SF
EGI
$77.0K $6.36/SF
− OpEx
−$23.1K −$1.91/SF
NOI
$53.9K $4.45/SF
Area
Green Bay, WI
Vacancy
1.80%
Lease Rate
$6.48 /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%
$1,078,400
Cap Rate 7%
$770,286
Cap Rate 9%
$599,111
Alternative Uses
Best Use
Specialty Retail
$2.37M
$2.07M – $2.76M
NOI $165,596 @ 7.0% cap · market cap 22.08%
Second Best
Industrial
$770.3K
$674.0K – $898.7K
NOI $53,920 @ 7.0% cap · market cap 7.19%
Theoretical Best
Office A
$2.82M
$2.47M – $3.29M
NOI $197,554 @ 7.0% cap · market cap 26.34%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
487
Businesses Nearby
79k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 59%
Shops & Services 41%
McDonald's
Dining
22,232 visits/mo
0.3 miles
Shell
Shops & Services
9,747 visits/mo
0.4 miles
Starbucks
Dining
8,101 visits/mo
0.4 miles
Hardee's
Dining
6,715 visits/mo
0.4 miles
Dollar General
Shops & Services
6,704 visits/mo
0.2 miles
Demographics for 54302, WI
31,327
Population
13,390
Households
2.3
Avg Household Size
34
Median Age
19%
College-Educated
81%
High-School Grad
9.2 sq mi
ZIP Area
3,405
Density / Sq Mi
$55,772
Median Household Income
$37,257
Median Earnings
$881
Median Rent
$164,500
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 property with a spacious dining area, fully equipped commercial kitchen, upstairs living unit, storage, and on-site parking.
Where is this conventional restaurant located?
The property is located at 1658 MAIN ST Green Bay, WI.
What is the asking price?
The asking price for this property is $750,000.
What are key features of this property?
This property features: Landmark restaurant property in Green Bay, home to Kroll's East; Spacious dining area with classic character; Fully equipped commercial kitchen
