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    2423 Kossow Rd Vernon, WI 53186

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    For Sale
    $1,750,000

    Restaurant property with drive-thru, patio, and high visibility.

    Type:Retail
    Property size:
    1 SF
    Added:
    Dec 3, 2025
    Days on Market:
    121
    Last Refresh:
    Apr 1 at 8:44 pm

    Property Features for 2423 Kossow Rd

    General Information

    Standard status
    Active
    Size
    1 SF
    Property subtype
    Retail

    Building Details

    Year Built
    2007

    We can help!

    Listing Contact
    Paul Proano
    Paul Proano

    Listing agent Paul Proano License #475170890

    Listing office COLDWELL BANKER COMMERCIAL NRT

    Listing date Dec 3, 2025

    Source Cbcworldwide

    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 COLDWELL BANKER COMMERCIAL NRT

    Overview

    Restaurant Property in High-Traffic Area

    Located at 2423 Kossow Road in Waukesha, this property is a restaurant site currently home to Casa Tequila. Constructed in 2007, the building spans approximately 4,864 square feet on a 1.85-acre lot. The property features a dining room, full bar, and commercial kitchen, along with an expansive outdoor seating patio and drive-thru capability. Originally designed as a Steak n’ Shake, it includes 63 dedicated parking spaces. The property is positioned at the Goerke’s Corners interchange, providing direct access to I-94, Bluemound Road, and Moreland Boulevard. This location offers high visibility with traffic counts exceeding 35,000 vehicles per day. The property is surrounded by national retailers and service providers, including Target, Menards, CarMax, Blain’s Farm & Fleet, Sam’s Club, The Home Depot, Duluth Trading Company, and Chase Bank, along with dining options, financial institutions, and nearby Brookfield Corners anchored by Von Maur. The property benefits from its location in a retail and commercial hub with direct visibility and immediate access to I-94, Bluemound Road, and Moreland Boulevard. Adjacent to Menards, Target, CarMax, and Blain’s Farm & Fleet, the site benefits from customer traffic. Also located in the commercial corridor are Sam’s Club, The Home Depot, and Duluth Trading Company. Dining establishments such as Texas Roadhouse, Meiji Cuisine, Toppers Pizza, and Taco Bell provide additional customer draws, while family entertainment is available at Urban Air Trampoline and Adventure Park. Essential services such as Chase Bank, Wells Fargo, and multiple fitness and wellness operators diversify the area. Hotels located just across Bluemound Road add traffic from travelers and business guests. This property is suited for restaurant use.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Casa Tequila Restaurant

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

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

    Location Insight

    • Map
    • Local Demand
    City
    Vernon
    County
    Waukesha
    State
    Wisconsin
    Longitude
    -88.178
    Latitude
    43.0351

    FAQs

    What type of property is this?
    Restaurant - Restaurant property with drive-thru, patio, and high visibility.
    Where is this restaurant located?
    The property is located at 2423 Kossow Rd Vernon, WI.
    What is the asking price?
    The asking price for this property is $1,750,000.
    What are key features of this property?
    This property features: Prime location with **direct access to I‑94, Bluemound Road, and Moreland Boulevard**, offering outstanding visibility and high traffic counts (35,000+ vehicles per day).; Surrounded by powerhouse national retailers and popular dining establishments, driving consistent customer traffic.; Built in 2007 with ±4,864 square feet on ±1.85 acres, featuring a spacious dining room, full bar, and commercial kitchen.
    (312) 860-4043
    We can help!
    Listing Contact
    Paul Proano
    Paul Proano
    Real Estate License ID: 475170890
    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.

    More about this property
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