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    200 MAIN ST N Butternut, WI 54514

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    Claim this Listing
    Pending
    $34,900

    COMMERCIAL - Butternut, WI

    Property size:
    2,559 SF
    Lot size:
    0.17 Acres
    Added:
    Nov 14, 2025
    Days on Market:
    172
    Last Refresh:
    May 5 at 6:06 am

    Property Features for 200 MAIN ST N

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Bathrooms
    2
    Rooms
    Bathroom 1, Bathroom 2
    Standard status
    Pending
    APN
    106-00045-0000
    Size
    2,559 SF
    Lot size
    0.17 Acres

    Taxes and HOA fees

    Tax Year
    2025
    Tax Description
    Lot 1 Block 4, Village of Butternut Creek. 21-41N-1W
    Tax Annual Amount
    788

    Utilities

    Sewer type
    Public Sewer
    Heating system
    Natural Gas, Forced Air
    Water source
    Public

    Building Details

    Year built
    1930
    Flooring type
    Mixed
    Building materials
    Masonry, Concrete, Stone
    Roof type
    Shingle, Composition

    We can help!

    Listing Contact
    DEBRA WEINBERGER

    Listing agent DEBRA WEINBERGER License #2377090

    Listing office BIRCHLAND REALTY, INC - PARK FALLS PO Box 388, Phillips, WI

    Listing date Nov 14, 2025

    MLS# 215117

    Copyright © 2026 Greater Northwoods MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Former Bar Site in Butternut

    This commercial site, formerly Steve's Corner Bar, is located on a 50x150' level lot at the corner of County F and North Main St in Butternut. The 2,559 square-foot building is constructed of concrete block and rock, and features a recently reshingled roof on the front part of the building. The property is serviced by municipal water and sewer and has electric service (currently disconnected). The front of the building consists of a bar and a small kitchen area, along with two half baths. The back area includes a dance hall and gaming area. There is an unfinished upper storage area in the back with limited access. The building is primarily on a slab, with a partial basement. Parking is available in front of the building, and street parking is also available. The property is being sold "AS IS". The 2025 taxes are $788. It is identified as Lot 1 Block 4, Village of Butternut Creek (21-41N-1W).
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Bars & Pubs

    Suggested Use

    Restaurant Building Supply Spa & Massage Center Auto Repair Shop Hair Salon Nail Salon Hotel & Motel Accounting Firm Grocery & Convenience Store Garden Center

    Zoning and permitted uses should be independently verified with local authorities.

    Similar Places Nearby

    • Ridge Runners — 113 S Main St, Butternut, WI 54514
    • Cruise Inn Spring Creek — 83966 Co Hwy F, Butternut, WI 54514
    • Double D’s Pub & Pizza — 109 2nd St, Butternut, WI 54514
    • Carl's Place — 220 W Michigan St, Butternut, WI 54514

    Location Insight

    • Map
    • Local Demand
    City
    Butternut
    County
    Ashland
    State
    Wisconsin
    Longitude
    -90.4925693
    Latitude
    46.0149752

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    FAQs

    What type of property is this?
    Bar & Pub - Commercial site with bar, dance hall, and kitchen area.
    Where is this bar & pub located?
    The property is located at 200 MAIN ST N Butternut, WI.
    What is the asking price?
    The asking price for this property is $34,900.
    What are key features of this property?
    This property features: Priced to sell at $34,900.; Located on a corner lot (50x150') at the intersection of County F and North Main St.; Boasts 2,559 square feet of finished area.
    (715) 762-3276
    We can help!
    Listing Contact
    DEBRA WEINBERGER
    Real Estate License ID: 2377090
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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