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Turnkey Tavern and Apartment Income
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
Listed By: Mike Raivala · License #2063400
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.

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 (±1% cap)
NOI $69,478 @ 7.0% cap · market cap 26.73%
Second Best
Multifamily LT 5
$374.8K
$328.0K – $437.3K (±1% cap)
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

Current Use

The Tipsy Beaver Bar Bar & Pub

Suggested Use

Top Pick Parking Lot & Garage Auto Parts Store Restaurant Big Box & Wholesale Store Grocery & Convenience Store Auto Repair Shop

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

2
Residential units
Turnkey business
Opportunity

Location Intelligence

Trade Area within ½ mile

152
Businesses Nearby
Balanced
Demand for This Use

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

6.5% 2022
7.5% 2023
7.8% 2024
8% 2025
Rey
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
More about this property
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