Riverfront Restaurant with Brewing
For Sale
$649,000
255 S Main St, West Bend, WI 53095
Remodeled restaurant with updated kitchen and bathrooms, installed brewing equipment, and a dining deck overlooking the Milwaukee River.
Property Size5,500 SF
Price / SF$118
Days on Market40
Property Features for 255 S Main St
General Information
Standard status
Active
Size
5,500 SF
Property Condition
Severity
Repairs Needed
Evidence
a little bit of paint, a bit of carpet
Restaurant
Patio
Yes
Equipment Included
Yes
Additional Details
Business Included
Yes
Amenities
dining deck
Building Details
Year Built
1930
Listing Agency:
Homestead Realty, Inc
(920) 960-0555
Listed By:
Broc Nathan Fleischer · License #5838490
Source:
Nikolicgroup
Added: Jul 21
Changed: Aug 29
Last Checked: Aug 25 at 5:15AM
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 Homestead Realty, Inc
Investment Insights
Based on property information with market context.
This restaurant property at 255 S Main St in West Bend includes a remodeled interior, updated kitchen and bathroom areas, and brewing equipment already in place. The building dates to 1930, while the major remodeling was completed 20 years ago. Interior finishes include restaurant dining space with established decor, and the property includes a dining deck positioned over the Milwaukee River.
The sale includes the existing restaurant improvements and installed brewing equipment, providing a ready physical setup for continued restaurant and brewing operations. The property’s river-facing dining area adds an outdoor component to the existing indoor layout.
The sale includes the existing restaurant improvements and installed brewing equipment, providing a ready physical setup for continued restaurant and brewing operations. The property’s river-facing dining area adds an outdoor component to the existing indoor layout.
Key Highlights
- 5,500‑square‑foot restaurant property at 255 S Main St, West Bend, WI 53095
- Building constructed in 1930 and completely remodeled 20 years ago
- Updated kitchen and bathrooms
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
$59,648
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
9.19%
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%
$1,192,960
$1.2M
Cap Rate 7%
$852,114
$852.1K
Cap Rate 9%
$662,756
$662.8K
Market Conditions
NOI Build-Up for 5,500 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
$82.5K $15.00/SF
− Vacancy
−$3.0K −$0.54/SF
EGI
$79.5K $14.46/SF
− OpEx
−$19.9K −$3.61/SF
NOI
$59.6K $10.84/SF
Area
Washington County, WI
Vacancy
3.60%
Lease Rate
$15.00 /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%
$1,192,960
Cap Rate 7%
$852,114
Cap Rate 9%
$662,756
Alternative Uses
Best Use
Specialty Retail
$852.1K
$745.6K – $994.1K
NOI $59,648 @ 7.0% cap · market cap 9.19%
Second Best
Industrial
$286.1K
$250.4K – $333.8K
NOI $20,028 @ 7.0% cap · market cap 3.09%
Theoretical Best
Office A
$1.51M
$1.32M – $1.76M
NOI $105,842 @ 7.0% cap · market cap 16.31%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
880
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 53095, WI
27,269
Population
12,741
Households
2.1
Avg Household Size
45
Median Age
32%
College-Educated
96%
High-School Grad
70.4 sq mi
ZIP Area
387
Density / Sq Mi
$82,219
Median Household Income
$49,779
Median Earnings
$1,015
Median Rent
$286,500
Median Home Value
Market
Vacancy Rate% for Industrial in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Conventional restaurant - Remodeled restaurant with updated kitchen and bathrooms, installed brewing equipment, and a dining deck overlooking the Milwaukee River.
Where is this conventional restaurant located?
The property is located at 255 S Main St West Bend, WI.
What is the asking price?
The asking price for this property is $649,000.
What are key features of this property?
This property features: 5,500‑square‑foot restaurant property at 255 S Main St, West Bend, WI 53095; Building constructed in 1930 and completely remodeled 20 years ago; Updated kitchen and bathrooms
