Restaurant Storefront with Walk-Up
For Sale
$130,000
30 S Wisconsin St, Elkhorn, WI 53121
Conventional restaurant storefront offered for sale, previously a pizza shop with a full kitchen and walk-up/dining area.
Property Size648 SF
Price / SF$200.62
Days on Market120
Property Features for 30 S Wisconsin St
General Information
Standard status
Active
Size
648 SF
Taxes and HOA fees
Annual Taxes
$697
Listing Agency:
Shorewest Realtors, Inc.
(262) 728-3418
Listed By:
Carmen Kraayvanger · License #11175394
(262) 233-0689
Source:
Exprealty
Added: May 11
Changed: Sep 5
Last Checked: Sep 6 at 11:26AM
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 Shorewest Realtors, Inc.
Investment Insights
Based on property information with market context.
This commercial storefront is offered for sale as-is. The space was previously operated as a pizza shop and is equipped with a full kitchen and a walk-up/dining area, supporting food service and compatible retail concepts.
The property is located at 30 S Wisconsin St in Elkhorn, WI.
Interested parties should plan to review the space directly to confirm condition and to evaluate fit for their intended concept, as the property is being sold as-is.
The property is located at 30 S Wisconsin St in Elkhorn, WI.
Interested parties should plan to review the space directly to confirm condition and to evaluate fit for their intended concept, as the property is being sold as-is.
Key Highlights
- Conventional commercial storefront in the heart of Elkhorn, previously operated as a pizza shop
- Includes a full kitchen setup for food service concepts
- Features a walk‑up/dining area
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
$8,754
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
6.73%
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%
$175,080
$175.1K
Cap Rate 7%
$125,057
$125.1K
Cap Rate 9%
$97,267
$97.3K
Market Conditions
NOI Build-Up for 648 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
$12.3K $18.96/SF
− Vacancy
−$614 −$0.95/SF
EGI
$11.7K $18.01/SF
− OpEx
−$2.9K −$4.50/SF
NOI
$8.8K $13.51/SF
Area
Walworth County, WI
Vacancy
5.00%
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%
$175,080
Cap Rate 7%
$125,057
Cap Rate 9%
$97,267
Alternative Uses
Best Use
Specialty Retail
$125.1K
$109.4K – $145.9K
NOI $8,754 @ 7.0% cap · market cap 6.73%
Second Best
—
—
no second resolved use
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
551
Businesses Nearby
38k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 79%
Dining 21%
Casey's General Store
Shops & Services
10,262 visits/mo
0.5 miles
Speedway
Shops & Services
10,158 visits/mo
0.1 miles
Chase Bank
Shops & Services
5,720 visits/mo
0.1 miles
Burger King
Dining
5,592 visits/mo
0.2 miles
U.S. Bank
Shops & Services
2,289 visits/mo
0.1 miles
Demographics for 53121, WI
19,222
Population
8,397
Households
2.3
Avg Household Size
42
Median Age
33%
College-Educated
94%
High-School Grad
114.4 sq mi
ZIP Area
168
Density / Sq Mi
$83,635
Median Household Income
$45,112
Median Earnings
$1,031
Median Rent
$287,900
Median Home Value
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 - Conventional restaurant storefront offered for sale, previously a pizza shop with a full kitchen and walk-up/dining area.
Where is this conventional restaurant located?
The property is located at 30 S Wisconsin St Elkhorn, WI.
What is the asking price?
The asking price for this property is $130,000.
What are key features of this property?
This property features: Conventional commercial storefront in the heart of Elkhorn, previously operated as a pizza shop; Includes a full kitchen setup for food service concepts; Features a walk‑up/dining area
