Restaurant with Outdoor
For Sale
$795,000
17001 W Greenfield Ave, New Berlin, WI 53151
A full-service dining setup includes a bar, commercial kitchen equipment, and an additional prep kitchen in the basement.
Property Size1,615 SF
Price / SF$492.26
Days on Market70
Property Features for 17001 W Greenfield Ave
General Information
Standard status
Active
Size
1,615 SF
Total Parking Spaces
22
Property subtype
Commercial
Zoning
Commercial
Taxes and HOA fees
Annual Taxes
$5,943
Building Details
Building Size
1,615 SF
Year Built
1930
Listing Agency:
Keller Williams Realty-Milwaukee Southwest
(262) 599-8980
Listed By:
LETS GO! Realty Group*
(262) 278-0411
Source:
Birchwoodpropertiesllc
Added: Aug 27
Changed: Nov 4
Last Checked: Nov 4 at 2:23AM
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 Keller Williams Realty-Milwaukee Southwest
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Investment Insights
Based on property information with market context.
This 1,615-square-foot restaurant was built in 1930 and includes indoor dining for 50–60 guests, a bar, and deck seating for 25. The sale includes the restaurant equipment, including a Montague Cooking Suite, kitchen equipment, tables, chairs, and a POS system. The property also has two bathrooms, an onsite garden, and a full basement with a walk-in cooler, second prep kitchen, and storage. The roof and windows have been updated, and a beer and liquor license is included.
Located on the New Berlin–Brookfield border, the property fronts Greenfield Avenue, which carries a daily traffic count of 20K+ average cars according to the Wisconsin DOT. The I-94/Moorland exit and Brookfield Corners area are minutes away. Parking includes 22 spaces, with additional alley parking.
Located on the New Berlin–Brookfield border, the property fronts Greenfield Avenue, which carries a daily traffic count of 20K+ average cars according to the Wisconsin DOT. The I-94/Moorland exit and Brookfield Corners area are minutes away. Parking includes 22 spaces, with additional alley parking.
Key Highlights
- Indoor seating for 50–60, plus deck seating for 25
- 1,615‑square‑foot restaurant built in 1930
- 22 parking spaces and additional alley parking
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$35,029
Cap Rate
4.41%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$700,580
$700.6K
Cap Rate 7%
$500,414
$500.4K
Cap Rate 9%
$389,211
$389.2K
Market Conditions
NOI Build-Up for 1,615 SF
Gross rent
$48.5K $30.00/SF
− Vacancy
−$1.7K −$1.08/SF
EGI
$46.7K $28.92/SF
− OpEx
−$11.7K −$7.23/SF
NOI
$35.0K $21.69/SF
Area
Waukesha County, WI
Vacancy
3.60%
Lease Rate
$30.00 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$700,580
Cap Rate 7%
$500,414
Cap Rate 9%
$389,211
Alternative Uses
Best Use
Specialty Retail
$500.4K
$437.9K – $583.8K
NOI $35,029 @ 7.0% cap · market cap 4.41%
Second Best
—
—
no second resolved use
Theoretical Best
Flex RnD
$824.2K
$721.2K – $961.6K
NOI $57,697 @ 7.0% cap · market cap 7.26%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
226
Businesses Nearby
7k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 100%
BP
Shops & Services
6,872 visits/mo
0.3 miles
Demographics for 53151, WI
32,535
Population
14,324
Households
2.3
Avg Household Size
47
Median Age
47%
College-Educated
98%
High-School Grad
17.5 sq mi
ZIP Area
1,859
Density / Sq Mi
$99,248
Median Household Income
$59,197
Median Earnings
$1,424
Median Rent
$351,300
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in Midwest region
Frequently Asked Questions
What type of property is this?
Conventional restaurant - A full-service dining setup includes a bar, commercial kitchen equipment, and an additional prep kitchen in the basement.
Where is this conventional restaurant located?
The property is located at 17001 W Greenfield Ave New Berlin, WI.
What is the asking price?
The asking price for this property is $795,000.
What are key features of this property?
This property features: Indoor seating for 50–60, plus deck seating for 25; 1,615‑square‑foot restaurant built in 1930; 22 parking spaces and additional alley parking
