Waterfront Restaurant and
For Sale
$1,950,000
2542 8 1/4 Ave, Chetek, WI 54728
Year-round hospitality property with lakefront dining, entertainment areas, guest accommodations, and an extensive dock system.
Property Size5,768 SF
Price / SF$338.07
Days on Market47
Property Features for 2542 8 1/4 Ave
General Information
Standard status
Active
Size
5,768 SF
Additional Details
Business Included
Yes
Patio
Yes
Amenities
seasonal Tiki bar
stage
extensive dock system
Building Details
Year Built
1979
Listing Agency:
Keller Williams Realty Diversified
Listed By:
Joshua R Amys · License #85884-94
(715) 642-0567
Source:
Searchhousesnow
Added: Sep 19
Changed: Oct 25
Last Checked: Oct 7 at 1:25PM
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 Keller Williams Realty Diversified
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Investment Insights
Based on property information with market context.
This established year-round restaurant and bar at 2542 8 1/4 Ave in Chetek, WI, brings together five parcels and a broad mix of hospitality improvements. The property includes an updated commercial kitchen, multiple indoor bar, dining, and entertainment areas, plus an upper seating loft. Outdoor amenities include a seasonal Tiki bar, lakefront patio, stage, substantial seating, and an extensive dock system along the Chetek Chain of Lakes.
Three guest accommodations expand the offering beyond the restaurant: one adjacent four-season cabin and two waterfront lodging units. A neighboring building currently used for storage provides additional interior space, while two separate parcels support employee, guest, and overflow parking. Built in 1979, the property combines restaurant operations, lodging, waterfront recreation, and event-oriented gathering areas in one assembled holding.
Three guest accommodations expand the offering beyond the restaurant: one adjacent four-season cabin and two waterfront lodging units. A neighboring building currently used for storage provides additional interior space, while two separate parcels support employee, guest, and overflow parking. Built in 1979, the property combines restaurant operations, lodging, waterfront recreation, and event-oriented gathering areas in one assembled holding.
Key Highlights
- Five parcels assembled for restaurant, lodging, storage, and parking uses
- Year‑round restaurant and bar with updated commercial kitchen and upper seating loft
- Lakefront patio, seasonal Tiki bar, stage, extensive seating, and dock system
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$79,598
Cap Rate
4.08%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,591,960
$1.6M
Cap Rate 7%
$1,137,114
$1.1M
Cap Rate 9%
$884,422
$884.4K
Market Conditions
NOI Build-Up for 5,768 SF
Gross rent
$138.4K $24.00/SF
− Vacancy
−$11.1K −$1.92/SF
EGI
$127.4K $22.08/SF
− OpEx
−$47.8K −$8.28/SF
NOI
$79.6K $13.80/SF
Area
Barron County, WI
Vacancy
8.00%
Lease Rate
$24.00 /SF/Yr
Expense Ratio
37.50%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,591,960
Cap Rate 7%
$1,137,114
Cap Rate 9%
$884,422
Alternative Uses
Best Use
Mixed Use
$1.14M
$995.0K – $1.33M
NOI $79,598 @ 7.0% cap · market cap 4.08%
Second Best
Specialty Retail
$722.3K
$632.0K – $842.7K
NOI $50,562 @ 7.0% cap · market cap 2.59%
Theoretical Best
Warehouse
$4.63M
$4.06M – $5.41M
NOI $324,410 @ 7.0% cap · market cap 16.64%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Current Use
Lease Details
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
21
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 54728, WI
6,166
Population
3,491
Households
1.8
Avg Household Size
50
Median Age
22%
College-Educated
96%
High-School Grad
125.6 sq mi
ZIP Area
49
Density / Sq Mi
$71,538
Median Household Income
$40,310
Median Earnings
$897
Median Rent
$214,200
Median Home Value
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Market
Vacancy Rate% for Retail in Midwest region
Frequently Asked Questions
What type of property is this?
Conventional restaurant - Year-round hospitality property with lakefront dining, entertainment areas, guest accommodations, and an extensive dock system.
Where is this conventional restaurant located?
The property is located at 2542 8 1/4 Ave Chetek, WI.
What is the asking price?
The asking price for this property is $1,950,000.
What are key features of this property?
This property features: Five parcels assembled for restaurant, lodging, storage, and parking uses; Year‑round restaurant and bar with updated commercial kitchen and upper seating loft; Lakefront patio, seasonal Tiki bar, stage, extensive seating, and dock system
