Freestanding Drive-Thru
For Sale
Contact for pricing
1780 22nd Ave., Kenosha, WI 53140
Freestanding second-generation restaurant with existing drive-thru infrastructure and ample parking on a 22nd Avenue retail corridor.
Property Size3,004 SF
Price / SF$332.89
Days on Market162
Property Features for 1780 22nd Ave.
General Information
Standard status
Active
Size
3,004 SF
Property subtype
Retail
Zoning
B-2 Community Business
Investment Type
Owner/User
Building Details
Year Built
1999
Year Renovated
1999
Buildings
1
Stories
1
Listing Agency:
EatZ & Associates
Listed By:
Ted Theodosiadis · License #475.130647
Source:
Crexi
Added: Mar 30
Changed: Aug 31
Last Checked: Sep 7 at 7:27AM
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 EatZ & Associates
Investment Insights
Based on property information with market context.
Freestanding drive-thru restaurant offering a second-generation quick-service layout, built in 1999. The property is approximately 3,004 square feet and includes existing drive-thru infrastructure along with ample parking to support fast customer flow. The site has previously operated as a Burger King, providing an established restaurant configuration for a new operator.
The property is located on 22nd Avenue in Kenosha, within ZIP 53140, and sits along an active retail corridor.
Offered for sale, this freestanding restaurant provides a self-contained commercial site in a dense consumer trade area, with the drive-thru improvements and layout already in place.
The property is located on 22nd Avenue in Kenosha, within ZIP 53140, and sits along an active retail corridor.
Offered for sale, this freestanding restaurant provides a self-contained commercial site in a dense consumer trade area, with the drive-thru improvements and layout already in place.
Key Highlights
- Freestanding second‑generation restaurant built in 1999 with 3,004 SF of space.
- 0.87‑acre site with existing drive‑thru infrastructure for drive‑up service.
- Located along the active 22nd Avenue retail corridor for strong street frontage and access.
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
$38,202
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
3.82%
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%
$764,040
$764.0K
Cap Rate 7%
$545,743
$545.7K
Cap Rate 9%
$424,467
$424.5K
Market Conditions
NOI Build-Up for 3,004 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
$54.1K $18.00/SF
− Vacancy
−$3.1K −$1.04/SF
EGI
$50.9K $16.96/SF
− OpEx
−$12.7K −$4.24/SF
NOI
$38.2K $12.72/SF
Area
Kenosha County, WI
Vacancy
5.80%
Lease Rate
$18.00 /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%
$764,040
Cap Rate 7%
$545,743
Cap Rate 9%
$424,467
Alternative Uses
Best Use
Specialty Retail
$545.7K
$477.5K – $636.7K
NOI $38,202 @ 7.0% cap · market cap 3.82%
Second Best
—
—
no second resolved use
Theoretical Best
Warehouse
$3.50M
$3.06M – $4.08M
NOI $244,814 @ 7.0% cap · market cap 24.48%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
313
Businesses Nearby
29k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 50%
Dining 33%
Home Improvements & Furnishings 11%
Beauty & Spa 6%
Taco Bell
Dining
6,148 visits/mo
0.4 miles
Dollar General
Shops & Services
5,244 visits/mo
0.3 miles
JC Licht Ace
Home Improvements & Furnishings
3,043 visits/mo
0.0 miles
Family Dollar
Shops & Services
2,963 visits/mo
0.4 miles
AutoZone
Shops & Services
2,491 visits/mo
0.5 miles
Demographics for 53140, WI
30,571
Population
14,065
Households
2.2
Avg Household Size
36
Median Age
28%
College-Educated
90%
High-School Grad
7.9 sq mi
ZIP Area
3,870
Density / Sq Mi
$56,803
Median Household Income
$34,154
Median Earnings
$1,018
Median Rent
$191,400
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?
Drive through restaurant - Freestanding second-generation restaurant with existing drive-thru infrastructure and ample parking on a 22nd Avenue retail corridor.
Where is this drive through restaurant located?
The property is located at 1780 22nd Ave. Kenosha, WI.
What is the asking price?
The asking price for this property is $1,000,000.
What are key features of this property?
This property features: Freestanding second‑generation restaurant built in 1999 with 3,004 SF of space.; 0.87‑acre site with existing drive‑thru infrastructure for drive‑up service.; Located along the active 22nd Avenue retail corridor for strong street frontage and access.
