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    Mixed-Use Tavern with Apartments Title is generated by Realmo AI

    308 S Main Street, Blanchardville, WI 53516

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    For Sale
    $625,000

    Apartment building,Tavern - Blanchardville, WI

    Type:Apartment
    Added:
    Jan 20, 2026
    Days on Market:
    134
    Last Refresh:
    Jun 3 at 10:06 pm

    Property Features for 308 S Main Street

    General Information

    Property type
    Commercial Sale
    Property subtype
    Apartment
    Zoning
    Com
    Parking features
    Paved or Surfaced
    Interior features
    Public rest rooms, Less than 440 volt
    Standard status
    Active
    APN
    108-0039-2000

    Taxes and HOA fees

    Tax Year
    2025
    Tax Annual Amount
    3689

    Utilities

    Heating system
    Forced Air
    Cooling system
    Central Air

    Building Details

    Year built
    1913
    Floors in Building
    3
    Number of units
    5
    Building materials
    Brick
    Roof type
    Membrane, Rubber
    Architectural style
    Other

    We can help!

    Listing Contact
    Pam Krahenbuhl

    Listing agent Pam Krahenbuhl

    Listing office EXIT Professional Real Estate 912 17th Ave, MONROE, WI

    Listing date Jan 20, 2026

    MLS# 2004184 Listing URL

    Copyright © 2026 REALTORS® Association of South Central Wisconsin. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • Turn‑key bar business with established reputation for food, fun, and music.
    • Two updated, income‑generating apartments upstairs.
    • Enjoy the outdoor patio area for customers.
    • Additional income potential from two "hotel‑style" rooms.
    • Located downtown with ATV/rec trail access.
    • Includes pool area and gaming machine area.

    Overview

    This turn-key downtown bar and tavern operates as a successful, revenue-generating business with a complete interior setup for guests. The space includes a pool area, a gaming machine area, and plenty of seating for dining and entertainment. Outside, a patio offers a comfortable setting for customers to enjoy the outdoors and live music. The second floor features two nicely updated apartments that are currently occupied and generating income, providing an additional stream of revenue. Two further “hotel-style” rooms are also available to support more income potential through nightly rentals.

    The property is located in downtown Blanchardville, WI. The adjacent recreation activity is expected to support demand, as ATV/rec trails run into town. The result is a business-and-residential setup intended for both steady occupancy and short-term rental flexibility.

    For buyers, this is a strong fit for an owner-operator or an investor seeking diversified cash flow within one building. The combination of an operating tavern, occupied apartments, and nightly rental rooms can appeal to operators who want on-site business management while also benefiting from multiple income channels. With the turnkey nature of the tavern concept and the updated residential units, it offers a practical platform for continued operations and income growth.
    Property Profile Location Intelligence

    Current Use by Public Records

    Rachel & Ray's Pub/Hotel ... Nightclub

    Suggested Use

    Real Estate Agency Restaurant Law Firm Spa & Massage Center Hair Salon Nail Salon Auto Repair Shop Big Box & Wholesale Store Hotel & Motel Department Store

    Zoning and permitted uses should be independently verified with local authorities.

    Similar Places Nearby

    • Lady Dawn's Sports Bar & Grill — 307 S Main St, Blanchardville, WI 53516
    • Husies Bar & Grill — 211 S Main St, Blanchardville, WI 53516
    • Pabst Blue Ribbon — 307 s main st, blanchardville, wi 53516

    Location Insight

    • Map
    • Local Demand
    City
    Blanchardville
    County
    Lafayette
    State
    Wisconsin
    Longitude
    -89.862081
    Latitude
    42.809922

    FAQs

    What type of property is this?
    Bar & Pub - Turn-key downtown tavern with patio and income-producing apartments, plus additional nightly rental rooms.
    Where is this bar & pub located?
    The property is located at 308 S Main Street Blanchardville, 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: Turn‑key bar business with established reputation for food, fun, and music.; Two updated, income‑generating apartments upstairs.; Enjoy the outdoor patio area for customers.
    (608) 558-5007
    We can help!
    Listing Contact
    Pam Krahenbuhl
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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