Waterfront Restaurant and
New
For Sale
$1,950,000
2542 8 1/4 Avenue, Chetek, WI 54728
CommercialSale, Chetek, WI
Property Size5,768 SF
Lot Size1.90 Acres
Price / SF$338.07
Days on Market3
Property Features for 2542 8 1/4 Avenue
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
Recreational, Residential, Shoreline
Interior features
Furnished, HandicapAccess
Accessibility
Accessible Approach with Ramp
View
Lake
Elementary school district
Chetek-Weyerhaeuser Area
Middle school district
Chetek-Weyerhaeuser Area
High school district
Chetek-Weyerhaeuser Area
Directions
From the City of Chetek: Travel North on 2nd St about 1 mile. Turn right after the bridge onto Pinegrove Ave. Property on the left. 44 miles north of Eau Claire, 102 miles east of St. Paul, 220 miles north of Madison and 117 miles south of Duluth.
Standard status
Active
APN
012-4220-34-000
Size
5,768 SF
Lot size
1.90 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
Lengthy: Multiple Parcels
Tax Annual Amount
13721
Legal Description
Lengthy: Multiple Parcels
Utilities
Sewer type
Septic Tank, Private Sewer, Holding Tank
Heating system
Forced Air
Cooling system
Central Air
Water source
Well
Water front features
Lake
Water front
1
Building Details
Year built
1979
Flooring type
Carpet
Building materials
CementSiding, WoodSiding
Listing Agency:
Keller Williams Realty Diversified
(715) 514-4265
Listed By:
Joshua Amys · License #85884-94
(715) 642-0567
Added: Sep 16
Changed: Sep 18
Last Checked: Sep 18 at 11:06AM
MLS# 1605022
Copyright © 2026 REALTORS® Association of Northwestern Wisconsin. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 5,768-square-foot restaurant and bar operates year-round and includes an updated commercial kitchen, multiple indoor dining, bar, and entertainment areas, plus an upper seating loft. The property is furnished and includes central air, forced-air heat, accessible ramp approach, and cement and wood siding. Outdoor improvements include a seasonal Tiki bar, lakefront patio, stage, seating areas, and an extensive dock system overlooking the Chetek Chain of Lakes.
The offering combines five parcels totaling 1.895 acres. Three guest accommodations are included: an adjacent four-season cabin and two waterfront lodging units. A neighboring building currently provides storage and was previously used as a store, while two additional parcels support employee, guest, and overflow parking. The property is served by a well and private sewer systems that include septic and holding tanks.
The offering combines five parcels totaling 1.895 acres. Three guest accommodations are included: an adjacent four-season cabin and two waterfront lodging units. A neighboring building currently provides storage and was previously used as a store, while two additional parcels support employee, guest, and overflow parking. The property is served by a well and private sewer systems that include septic and holding tanks.
Key Highlights
- 5,768‑square‑foot year‑round restaurant and bar
- 1.895 acres across five parcels
- Updated commercial kitchen with indoor dining, bar, entertainment areas, and upper seating loft
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
$79,598
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
4.08%
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%
$1,591,960
$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
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
$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 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%
$1,591,960
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.
Property Analytics
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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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Conventional restaurant - Year-round dining and entertainment venue with lakefront outdoor areas, guest lodging, and supporting commercial improvements.
Where is this conventional restaurant located?
The property is located at 2542 8 1/4 Avenue 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: 5,768‑square‑foot year‑round restaurant and bar; 1.895 acres across five parcels; Updated commercial kitchen with indoor dining, bar, entertainment areas, and upper seating loft
