Turnkey Tavern and Apartment
For Sale
$259,900
3823 E 2nd St, Superior, WI 54880
COMMERCIAL - Superior, WI
Property Size3,148 SF
Lot Size0.14 Acres
Price / SF$82.56
Days on Market20
Property Features for 3823 E 2nd St
General Information
Property type
Commercial Sale
Property subtype
Other
Bathrooms
2
Half bathrooms
2
Rooms
Bathroom 1, Bathroom 2, Basement
Security features
Security System
Interior features
Security System, Bar Area, Kitchen Area, Restrooms, Smoke Detectors, Billboards
Basement
Concrete
Directions
From Belknap St and E 2nd St - Easterly to Tipsy Beaver Bar
Subdivision
LSAR
Standard status
Active
Size
3,148 SF
Lot size
0.14 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
2316
Utilities
Heating system
Forced Air, Natural Gas
Cooling system
Wall Unit(s)
Building Details
Year built
1909
Number of units
3
Roof type
Shingle
Listing Agency:
RE/MAX Results · RE/MAX International
(952) 829-2900
Listed By:
Mike Raivala · License #2063400
(952) 829-2900
Added: Jul 11
Changed: Jul 30
Last Checked: Jul 30 at 3:06PM
MLS# 6123850
Copyright © 2026 Lake Superior Association of REALTORS®. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This well-established, successful local tavern has been operated by the seller for six years and is offered as a turnkey operation. The sale includes furnishings, signs, and a security system, along with equipment associated with the on-site entertainment and beverage service. The premises feature five Wisconsin gaming machines, two electronic dart games, and a walk-in cooler/dispenser for beverage storage and service. The cooler/dispenser setup also supports the sale of draft house pizzas, along with a soda dispensing system.
The property is located at 3823 E 2nd St in Superior, WI, and is described as being in a high-traffic location.
In addition to the tavern space, the upper level contains two apartments, providing steady revenue. Most of the gaming machines are leased, as is the soda dispensing system.
The property is located at 3823 E 2nd St in Superior, WI, and is described as being in a high-traffic location.
In addition to the tavern space, the upper level contains two apartments, providing steady revenue. Most of the gaming machines are leased, as is the soda dispensing system.
Key Highlights
- Well‑established tavern operated by the Seller for 6 years
- Includes five Wisconsin gaming machines plus two electronic dart games and numerous amusement machines
- Two apartments on the upper level provide steady revenue
Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $44.2k | $14.04 |
| − Vacancy | −$2.2k | −$0.70 |
| EGI | $42.0k | $13.34 |
| − OpEx | −$18.9k | −$6.00 |
| NOI | $23.1k | $7.34 |
3,148 SF · lease $14.04/SF/yr · vacancy 5.00% · expense 45.00%
Alternative Uses
Best Use
Specialty Retail
$992.5K
$868.5K – $1.16M
NOI $69,478 @ 7.0% cap · market cap 26.73%
Second Best
Multifamily LT 5
$374.8K
$328.0K – $437.3K
NOI $26,238 @ 7.0% cap · market cap 10.10%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
152
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 54880, WI
30,400
Population
14,325
Households
2.1
Avg Household Size
39
Median Age
28%
College-Educated
94%
High-School Grad
166.1 sq mi
ZIP Area
183
Density / Sq Mi
$66,942
Median Household Income
$40,813
Median Earnings
$901
Median Rent
$176,700
Median Home Value
Market
Vacancy Rate% for Multifamily in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- The Tipsy Beaver Bar — 3823 E 2nd St, Superior, WI 54880
- Gronks Grill & Bar — 4909 E 2nd St, Superior, WI 54880
Frequently Asked Questions
What type of property is this?
Bar & Pub - Turnkey local tavern with gaming machines and upper-level apartments for added recurring revenue.
Where is this bar & pub located?
The property is located at 3823 E 2nd St Superior, WI.
What is the asking price?
The asking price for this property is $259,900.
What are key features of this property?
This property features: Well‑established tavern operated by the Seller for 6 years; Includes five Wisconsin gaming machines plus two electronic dart games and numerous amusement machines; Two apartments on the upper level provide steady revenue
