Multi-Level Restaurant Building with Two Bar
For Sale
$2,999,000
3552 Market LANE, Kenosha, WI 53144
Restaurant building on 2.61 acres with extensive kitchen and prep areas, dual operations, and two custom bar areas.
Property Size11,930 SF
Lot Size2.61 Acres
Price / SF$251.38
Days on Market291
Property Features for 3552 Market LANE
General Information
Standard status
Active
Size
11,930 SF
Total Parking Spaces
135
Lot size
2.61 Acres
Property subtype
General Commercial
Additional Details
Furnished
No
Liquor License
Yes
Taxes and HOA fees
Annual Taxes
$35,697
Amenities
tall ceilings
extensive kitchen and prep areas
multiple walk-in coolers
two custom bar areas
multi-level dining layout
large glass overhead doors
Central Air
3
G2
135 Parking Spaces.
1 to 4.99
Building Details
Year Built
2020
Buildings
1
Listing Agency:
@properties
(262) 705-4907
Listed By:
Jake Hansen · License #5400694
(262) 705-4907
Source:
Xome
Added: Nov 6, 2025
Changed: Aug 23
Last Checked: Aug 23 at 3:18AM
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 @properties
Investment Insights
Based on property information with market context.
Exceptional multi-level restaurant building totaling 12,000 sq ft on 2.61 acres, with approximately 135 parking stalls. The property is currently home to Oakfire Pizza and Sazon Tacos & Tequila and is set up for dual operations with extensive kitchen and prep areas designed to support both concepts. Interior features include tall ceilings, multiple walk-in coolers, and two custom bar areas.
The dining layout includes large glass overhead doors that bring in significant natural light. The site is located on Kenosha’s north side near a major intersection and is surrounded by strong anchor businesses, supporting steady traffic.
An active liquor license is included. Name and furnishings are excluded, and the seller is open to negotiating goodwill.
The dining layout includes large glass overhead doors that bring in significant natural light. The site is located on Kenosha’s north side near a major intersection and is surrounded by strong anchor businesses, supporting steady traffic.
An active liquor license is included. Name and furnishings are excluded, and the seller is open to negotiating goodwill.
Key Highlights
- Exceptional 12,000 sq ft multi‑level restaurant building
- 2.61 acres with approximately 135 parking stalls
- Set up for dual operations with extensive kitchen and prep areas
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
$151,714
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
5.06%
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%
$3,034,280
$3.0M
Cap Rate 7%
$2,167,343
$2.2M
Cap Rate 9%
$1,685,711
$1.7M
Market Conditions
NOI Build-Up for 11,930 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
$214.7K $18.00/SF
− Vacancy
−$12.5K −$1.04/SF
EGI
$202.3K $16.96/SF
− OpEx
−$50.6K −$4.24/SF
NOI
$151.7K $12.72/SF
Area
Kenosha County, WI
Vacancy
5.80%
Lease Rate
$18.00 /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%
$3,034,280
Cap Rate 7%
$2,167,343
Cap Rate 9%
$1,685,711
Alternative Uses
Best Use
Industrial
$11.44M
$10.01M – $13.34M
NOI $800,674 @ 7.0% cap · market cap 26.70%
Second Best
Specialty Retail
$2.17M
$1.90M – $2.53M
NOI $151,714 @ 7.0% cap · market cap 5.06%
Theoretical Best
Warehouse
$13.89M
$12.15M – $16.20M
NOI $972,247 @ 7.0% cap · market cap 32.42%
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
3
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 53144, WI
26,702
Population
10,731
Households
2.5
Avg Household Size
37
Median Age
32%
College-Educated
91%
High-School Grad
43.4 sq mi
ZIP Area
615
Density / Sq Mi
$71,111
Median Household Income
$42,017
Median Earnings
$1,136
Median Rent
$248,200
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.
Frequently Asked Questions
What type of property is this?
Conventional restaurant - Restaurant building on 2.61 acres with extensive kitchen and prep areas, dual operations, and two custom bar areas.
Where is this conventional restaurant located?
The property is located at 3552 Market LANE Kenosha, WI.
What is the asking price?
The asking price for this property is $2,999,000.
What are key features of this property?
This property features: Exceptional 12,000 sq ft multi‑level restaurant building; 2.61 acres with approximately 135 parking stalls; Set up for dual operations with extensive kitchen and prep areas
