Restaurant and Bar with Upstairs
For Sale
$625,000
2932 FOND DU LAC ROAD, Oshkosh, WI 54902
The property includes a large parking area, new roof and siding, and an upper-level area currently used for storage.
Property Size3,812 SF
Lot Size1.31 Acres
Price / SF$163.96
Days on Market399
Property Features for 2932 FOND DU LAC ROAD
General Information
Standard status
Active
Size
3,812 SF
Lot size
1.31 Acres
Property subtype
General Commercial
Taxes and HOA fees
Annual Taxes
$6,397
Amenities
Central Air, Gas
3
SR-5
On Site.
1 to 4.99
Building Details
Year Built
1974
Listing Agency:
Century 21 Ace Realty
Listed By:
Jenny Doemel
(920) 739-2121
Source:
Xome
Added: Aug 1, 2025
Changed: Aug 31
Last Checked: Aug 31 at 2:56PM
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 Century 21 Ace Realty
Investment Insights
Based on property information with market context.
This 3,812-square-foot restaurant and bar property occupies 1.31 acres and includes an upstairs apartment currently used for storage. The building dates to 1974 and has central air and gas service. Recent improvements include a new roof and new siding.
A large on-site parking lot serves the property. The combination of restaurant and bar space, an upper-level apartment area, and substantial land creates a clearly defined commercial configuration for continued restaurant use.
A large on-site parking lot serves the property. The combination of restaurant and bar space, an upper-level apartment area, and substantial land creates a clearly defined commercial configuration for continued restaurant use.
Key Highlights
- 3,812‑square‑foot restaurant and bar property
- 1.31‑acre site with a large on‑site parking lot
- New roof and siding
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
$51,388
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
8.22%
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%
$1,027,760
$1.0M
Cap Rate 7%
$734,114
$734.1K
Cap Rate 9%
$570,978
$571.0K
Market Conditions
NOI Build-Up for 3,812 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
$72.3K $18.96/SF
− Vacancy
−$3.8K −$0.99/SF
EGI
$68.5K $17.97/SF
− OpEx
−$17.1K −$4.49/SF
NOI
$51.4K $13.48/SF
Area
Winnebago County, WI
Vacancy
5.20%
Lease Rate
$18.96 /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%
$1,027,760
Cap Rate 7%
$734,114
Cap Rate 9%
$570,978
Alternative Uses
Best Use
Specialty Retail
$734.1K
$642.4K – $856.5K
NOI $51,388 @ 7.0% cap · market cap 8.22%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$822.8K
$719.9K – $959.9K
NOI $57,594 @ 7.0% cap · market cap 9.22%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
80
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 54902, WI
22,309
Population
10,800
Households
2.1
Avg Household Size
40
Median Age
27%
College-Educated
94%
High-School Grad
35.0 sq mi
ZIP Area
637
Density / Sq Mi
$64,548
Median Household Income
$41,592
Median Earnings
$859
Median Rent
$163,900
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 - The property includes a large parking area, new roof and siding, and an upper-level area currently used for storage.
Where is this conventional restaurant located?
The property is located at 2932 FOND DU LAC ROAD Oshkosh, WI.
What is the asking price?
The asking price for this property is $625,000.
What are key features of this property?
This property features: 3,812‑square‑foot restaurant and bar property; 1.31‑acre site with a large on‑site parking lot; New roof and siding
