Prime Location Near University
403 Belknap St Superior, WI
For Sale
Contact for pricing
Turn-key restaurant or retail opportunity near a thriving university.
Property Size3,800 SF
Lot Size0.43 Acres
Price / SF$235.53
Days on Market500
Property Features for 403 Belknap St
General Information
Standard status
Active
Size
3,800 SF
Lot size
0.43 Acres
Property subtype
RETAIL
Listing Agency:
Greg Follmer Commercial Real Estate
(218) 310-0013
Listed By:
Greg Follmer · License #27078
(218) 310-0013
Source:
Moodyscre
Added: Mar 18, 2025
Changed: Jul 6
Last Checked: Jul 21 at 6:48AM
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 Greg Follmer Commercial Real Estate
Investment Insights
Based on property information with market context.
This property is situated directly across the street from the University of Wisconsin-Superior campus. Currently operating as a restaurant, it presents a turn-key opportunity for a new owner. The 3,800 square foot property could also be transformed into a sports bar, retail space, or office to suit various business needs. The location benefits from high visibility.
Key Highlights
- High‑visibility location directly across from a thriving university campus.
- Opportunity for a turn‑key restaurant operation.
- Suitable for transformation into various business types (sports bar, retail, office).
Financial Insights For Retail
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 | $68.4k | $18.00 |
| − Vacancy | −$1.8k | −$0.47 |
| EGI | $66.6k | $17.53 |
| − OpEx | −$20.0k | −$5.26 |
| NOI | $46.6k | $12.27 |
3,800 SF · lease $18.00/SF/yr · vacancy 2.60% · expense 30.00%
Alternative Uses
Best Use
Specialty Retail
$1.20M
$1.05M – $1.40M
NOI $83,868 @ 7.0% cap · market cap 9.37%
Second Best
Retail
$666.2K
$582.9K – $777.3K
NOI $46,635 @ 7.0% cap · market cap 5.21%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Turn key restaurant - Turn-key restaurant or retail opportunity near a thriving university.
Where is this turn key restaurant located?
The property is located at 403 Belknap St Superior, WI.
What is the asking price?
The asking price for this property is $895,000.
What are key features of this property?
This property features: High‑visibility location directly across from a thriving university campus.; Opportunity for a turn‑key restaurant operation.; Suitable for transformation into various business types (sports bar, retail, office).
