Updated Hotel with Restaurant and
For Sale
$875,000
201 Steele St, Algoma, WI 54201
Guest-room furnishings are included, along with a four-bedroom, two-bath third-floor suite.
Property Size12,844 SF
Price / SF$68.13
Days on Market52
Property Features for 201 Steele St
General Information
Standard status
Active
Size
12,844 SF
Building Details
Year Built
1857
Listing Agency:
ERA Starr Realty
Listed By:
Heidi A. Neubauer · License #91834125
(920) 493-6289
Source:
Moving2greenbay
Added: Sep 9
Changed: Oct 26
Last Checked: Oct 7 at 4:47PM
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 ERA Starr Realty
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Investment Insights
Based on property information with market context.
This 12,844-square-foot hotel property combines guest accommodations with restaurant and bar facilities. The building dates to 1857, with most of the space added in 1905, and has been updated with modern amenities. Hotel room and suite furnishings are included. Accommodations can serve groups of up to 6 people, including a third-floor suite with 4 bedrooms, 2 bathrooms, and water views.
The property is located at 201 Steele St in Algoma, two blocks from Lake Michigan and Crescent Beach. Nearby attractions include a waterfront boardwalk, winery, brewery, art studios, boutique shops, and Door County. Bar and restaurant inventory is excluded from the offering but may be acquired separately through a Bill of Sale.
The property is located at 201 Steele St in Algoma, two blocks from Lake Michigan and Crescent Beach. Nearby attractions include a waterfront boardwalk, winery, brewery, art studios, boutique shops, and Door County. Bar and restaurant inventory is excluded from the offering but may be acquired separately through a Bill of Sale.
Key Highlights
- 12,844‑square‑foot hotel property with restaurant and bar facilities
- Original building dates to 1857; majority of space was built in 1905
- Third‑floor suite includes 4 bedrooms, 2 bathrooms, and water views
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$32,213
Cap Rate
3.68%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$644,260
$644.3K
Cap Rate 7%
$460,186
$460.2K
Cap Rate 9%
$357,922
$357.9K
Market Conditions
NOI Build-Up for 12,844 SF
Gross rent
$123.3K $9.60/SF
− Vacancy
−$55.5K −$4.32/SF
EGI
$67.8K $5.28/SF
− OpEx
−$35.6K −$2.77/SF
NOI
$32.2K $2.51/SF
Area
Kewaunee County, WI
Vacancy
45.00%
Lease Rate
$9.60 /SF/Yr
Expense Ratio
52.50%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$644,260
Cap Rate 7%
$460,186
Cap Rate 9%
$357,922
Alternative Uses
Best Use
Specialty Retail
$2.51M
$2.20M – $2.93M
NOI $175,706 @ 7.0% cap · market cap 20.08%
Second Best
Hotel Hospitality
$460.2K
$402.7K – $536.9K
NOI $32,213 @ 7.0% cap · market cap 3.68%
Theoretical Best
Office A
$2.99M
$2.62M – $3.49M
NOI $209,614 @ 7.0% cap · market cap 23.96%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
311
Businesses Nearby
5k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 68%
Home Improvements & Furnishings 32%
Mobil
Shops & Services
3,719 visits/mo
0.4 miles
DOOR COUNTY COOP
Home Improvements & Furnishings
1,769 visits/mo
0.1 miles
Demographics for 54201, WI
5,281
Population
2,603
Households
2
Avg Household Size
48
Median Age
19%
College-Educated
92%
High-School Grad
75.5 sq mi
ZIP Area
70
Density / Sq Mi
$65,772
Median Household Income
$39,787
Median Earnings
$823
Median Rent
$174,800
Median Home Value
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Market
Vacancy Rate% for Retail in Midwest region
Frequently Asked Questions
What type of property is this?
Hotel - Guest-room furnishings are included, along with a four-bedroom, two-bath third-floor suite.
Where is this hotel located?
The property is located at 201 Steele St Algoma, WI.
What is the asking price?
The asking price for this property is $875,000.
What are key features of this property?
This property features: 12,844‑square‑foot hotel property with restaurant and bar facilities; Original building dates to 1857; majority of space was built in 1905; Third‑floor suite includes 4 bedrooms, 2 bathrooms, and water views
