Established Restaurant and Real
For Sale
Contact for pricing
406 N Main St, Thiensville, WI 53092
Thiensville restaurant with real estate for sale.
Property Size2,640 SF
Price / SF$329.17
Days on Market169
Property Features for 406 N Main St
General Information
Standard status
Active
Size
2,640 SF
Class
B
Property subtype
Retail, Business for Sale
Investment Type
Owner/User
Building Details
Stories
2
Units
1
Tenancy
Single
Listing Agency:
Ogden & Company Inc
(262) 312-4865
Listed By:
Richard Reinders · License #110296 - 94
Source:
Crexi
Added: Feb 23
Changed: Aug 8
Last Checked: Aug 10 at 3:50PM
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 Ogden & Company Inc
Investment Insights
Based on property information with market context.
Chuck's Place Family Restaurant offers the opportunity to acquire an established dining business and commercial real estate in downtown Thiensville, Wisconsin. This restaurant has served the community as a breakfast and lunch destination, operating Wednesday through Sunday. The business has a 5-year historical average of approximately $806,000 in annual sales. The sale includes both the operating restaurant business and the underlying commercial real estate. The commercial kitchen comes fully equipped. Chuck's Place has built local loyalty and brand recognition. The current operating schedule focuses on the breakfast and lunch segments. Located in downtown Thiensville, the restaurant benefits from local foot traffic and the area's growing residential base. This is an opportunity for an experienced restaurateur or entrepreneur seeking an established operation with real estate ownership, consistent revenue history, and community ties. The turnkey nature allows for immediate operation while providing potential for expanded hours or menu offerings under new ownership. The property size is 2640 square feet.
Key Highlights
- Established restaurant business and prime commercial real estate included in sale.
- Proven revenue stream: 5‑year historical average of approximately $806,000 in annual sales.
- Prime downtown location on North Main Street in Thiensville.
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
$40,287
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
4.64%
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%
$805,740
$805.7K
Cap Rate 7%
$575,529
$575.5K
Cap Rate 9%
$447,633
$447.6K
Market Conditions
NOI Build-Up for 2,640 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
$57.0K $21.60/SF
− Vacancy
−$3.3K −$1.25/SF
EGI
$53.7K $20.35/SF
− OpEx
−$13.4K −$5.09/SF
NOI
$40.3K $15.26/SF
Area
Ozaukee County, WI
Vacancy
5.80%
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%
$805,740
Cap Rate 7%
$575,529
Cap Rate 9%
$447,633
Alternative Uses
Best Use
Specialty Retail
$575.5K
$503.6K – $671.5K
NOI $40,287 @ 7.0% cap · market cap 4.64%
Second Best
Retail
$487.5K
$426.6K – $568.8K
NOI $34,127 @ 7.0% cap · market cap 3.93%
Theoretical Best
Office A
$622.0K
$544.3K – $725.7K
NOI $43,541 @ 7.0% cap · market cap 5.01%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
359
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 53092, WI
21,052
Population
8,983
Households
2.3
Avg Household Size
50
Median Age
69%
College-Educated
98%
High-School Grad
20.3 sq mi
ZIP Area
1,037
Density / Sq Mi
$126,431
Median Household Income
$70,327
Median Earnings
$1,962
Median Rent
$440,200
Median Home Value
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Breakfast & diner - Thiensville restaurant with real estate for sale.
Where is this breakfast & diner located?
The property is located at 406 N Main St Thiensville, WI.
What is the asking price?
The asking price for this property is $869,000.
What are key features of this property?
This property features: Established restaurant business and prime commercial real estate included in sale.; Proven revenue stream: 5‑year historical average of approximately $806,000 in annual sales.; Prime downtown location on North Main Street in Thiensville.
