Two-Level Tavern
For Sale
$550,000
318 Pearl St, La Crosse, WI 54601
Downtown tavern with a second bar area, transferable liquor license, and surrounding retail and restaurant activity.
Property Size2,600 SF
Price / SF$211.54
Days on Market61
Property Features for 318 Pearl St
General Information
Standard status
Active
Size
2,600 SF
Additional Details
Liquor License
Yes
Taxes and HOA fees
Annual Taxes
$6,645
Listing Agency:
Gerrard-Hoeschler, REALTORS
(608) 792-8451
Listed By:
Brian McCarty · License #80000-94
(608) 792-8451
Source:
Exprealty
Added: Jun 11
Changed: Aug 10
Last Checked: Aug 10 at 8:33AM
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 Gerrard-Hoeschler, REALTORS
Investment Insights
Based on property information with market context.
This 2,600-square-foot tavern occupies two levels on historic Pearl Street in downtown La Crosse. The upper level was reconfigured from an apartment into an additional bar area during a complete remodel completed in the mid-2000s. A transferable liquor license is included with the property.
The site is situated in a high-foot-traffic area surrounded by retail shops and restaurants. Its existing tavern configuration and second-level bar provide a ready framework for continued bar operations and other uses supported by the property’s commercial setting.
The site is situated in a high-foot-traffic area surrounded by retail shops and restaurants. Its existing tavern configuration and second-level bar provide a ready framework for continued bar operations and other uses supported by the property’s commercial setting.
Key Highlights
- 2,600‑square‑foot tavern property at 318 Pearl St
- Upper apartment converted to an additional bar area
- Complete remodel completed in the mid‑2000s
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
$39,803
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
7.24%
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%
$796,060
$796.1K
Cap Rate 7%
$568,614
$568.6K
Cap Rate 9%
$442,256
$442.3K
Market Conditions
NOI Build-Up for 2,600 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
$56.2K $21.60/SF
− Vacancy
−$3.1K −$1.19/SF
EGI
$53.1K $20.41/SF
− OpEx
−$13.3K −$5.10/SF
NOI
$39.8K $15.31/SF
Area
La Crosse County, WI
Vacancy
5.50%
Lease Rate
$21.60 /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%
$796,060
Cap Rate 7%
$568,614
Cap Rate 9%
$442,256
Alternative Uses
Best Use
Specialty Retail
$568.6K
$497.5K – $663.4K
NOI $39,803 @ 7.0% cap · market cap 7.24%
Second Best
Retail
$373.6K
$326.9K – $435.9K
NOI $26,153 @ 7.0% cap · market cap 4.76%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Liquor license
Location Intelligence
Trade Area within ½ mile
2,075
Businesses Nearby
70k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 50%
Dining 27%
Hotels & Casinos 23%
Kwik Trip
Shops & Services
24,826 visits/mo
0.3 miles
Qdoba Mexican Grill
Dining
7,110 visits/mo
0.1 miles
Home2 Suites by Hilton La Crosse
Hotels & Casinos
6,354 visits/mo
0.1 miles
Burger King
Dining
5,025 visits/mo
0.4 miles
SUBWAY
Dining
4,352 visits/mo
0.0 miles
Demographics for 54601, WI
51,090
Population
22,652
Households
2.3
Avg Household Size
32
Median Age
40%
College-Educated
96%
High-School Grad
75.4 sq mi
ZIP Area
678
Density / Sq Mi
$60,078
Median Household Income
$31,143
Median Earnings
$998
Median Rent
$220,200
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.
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Frequently Asked Questions
What type of property is this?
Bar & Pub - Downtown tavern with a second bar area, transferable liquor license, and surrounding retail and restaurant activity.
Where is this bar & pub located?
The property is located at 318 Pearl St La Crosse, WI.
What is the asking price?
The asking price for this property is $550,000.
What are key features of this property?
This property features: 2,600‑square‑foot tavern property at 318 Pearl St; Upper apartment converted to an additional bar area; Complete remodel completed in the mid‑2000s
