Turn-Key Restaurant
For Sale
$750,000
2230 NORTHLAND AVE, Appleton, WI 54911
Turn-key restaurant for sale in North Appleton with a fully operating setup.
Property Size3,806 SF
Price / SF$197.06
Days on Market128
Property Features for 2230 NORTHLAND AVE
General Information
Standard status
Active
Size
3,806 SF
Property subtype
General Commercial
Taxes and HOA fees
Annual Taxes
$10,477
Amenities
Central Air, Gas
3
C2
0.5 to .99
Building Details
Year Built
2004
Listing Agency:
DeWitt Londre LLC
(920) 378-0808
Listed By:
Ryan Londre · License #94-40727
(920) 378-0808
Source:
Xome
Added: Apr 4
Changed: Aug 8
Last Checked: Aug 9 at 5:23AM
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 DeWitt Londre LLC
Investment Insights
Based on property information with market context.
This is an absolute turn-key restaurant for sale, offered with an immediately operational setup. The property size is listed at 3,806 square feet.
The restaurant is located in North Appleton, positioned between 441 and Ballard Street.
The listing is presented as turn-key, meaning the space is being marketed ready for use as a restaurant.
The restaurant is located in North Appleton, positioned between 441 and Ballard Street.
The listing is presented as turn-key, meaning the space is being marketed ready for use as a restaurant.
Key Highlights
- Turn‑key restaurant setup for sale in North Appleton
- C2 zoning
- Central air with gas cooling
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
$57,427
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
7.66%
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%
$1,148,540
$1.1M
Cap Rate 7%
$820,386
$820.4K
Cap Rate 9%
$638,078
$638.1K
Market Conditions
NOI Build-Up for 3,806 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
$79.9K $21.00/SF
− Vacancy
−$3.4K −$0.88/SF
EGI
$76.6K $20.12/SF
− OpEx
−$19.1K −$5.03/SF
NOI
$57.4K $15.09/SF
Area
Outagamie County, WI
Vacancy
4.20%
Lease Rate
$21.00 /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%
$1,148,540
Cap Rate 7%
$820,386
Cap Rate 9%
$638,078
Alternative Uses
Best Use
Specialty Retail
$820.4K
$717.8K – $957.1K
NOI $57,427 @ 7.0% cap · market cap 7.66%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.05M
$918.2K – $1.22M
NOI $73,456 @ 7.0% cap · market cap 9.79%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
570
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 54911, WI
26,964
Population
11,171
Households
2.4
Avg Household Size
37
Median Age
35%
College-Educated
94%
High-School Grad
8.4 sq mi
ZIP Area
3,210
Density / Sq Mi
$66,747
Median Household Income
$38,591
Median Earnings
$1,010
Median Rent
$199,100
Median Home Value
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Conventional restaurant - Turn-key restaurant for sale in North Appleton with a fully operating setup.
Where is this conventional restaurant located?
The property is located at 2230 NORTHLAND AVE Appleton, 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: Turn‑key restaurant setup for sale in North Appleton; C2 zoning; Central air with gas cooling
