Three-Level Bar & Pub
For Sale
Contact for pricing
442 WATER ST, Eau Claire, WI 54703
Includes a commercial kitchen, operating business, furnishings, and an upper-level apartment.
Property Size7,600 SF
Price / SF$157.89
Days on Market54
Property Features for 442 WATER ST
General Information
Standard status
Active
Size
7,600 SF
Property subtype
Retail, Mixed Use
Occupancy
100%
Additional Details
Furnished
Yes
Business Included
Yes
Equipment Included
Yes
Building Details
Year Built
2005
Buildings
1
Stories
2
Units
1
Tenancy
Single
Listing Agency:
Donnellan Real Estate
Listed By:
David Donnellan · License #WI 79500-94
(715) 577-9027
Source:
Crexi
Added: Jul 29
Changed: Sep 18
Last Checked: Sep 19 at 7:52AM
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 Donnellan Real Estate
Investment Insights
Based on property information with market context.
Located at 442 Water Street in Eau Claire’s Water Street district, this 7,600 SF bar and pub property spans three levels and was built in 2005. The offering combines the real estate with the operating business and substantially all business assets, including a commercial kitchen, bar equipment, furniture, fixtures, and equipment. An upper-level four-bedroom apartment is also included.
The property occupies a signalized corner across from public parking and near the University of Wisconsin-Eau-Claire campus, which has approximately 10,000 students. The business has operated continuously since 2005, while the retained trade name allows a new owner to introduce a different identity or operating concept.
The property occupies a signalized corner across from public parking and near the University of Wisconsin-Eau-Claire campus, which has approximately 10,000 students. The business has operated continuously since 2005, while the retained trade name allows a new owner to introduce a different identity or operating concept.
Key Highlights
- 7,600 SF building arranged across three levels
- Built in 2005
- Commercial kitchen, bar equipment, and FF&E included
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
$105,262
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
8.77%
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%
$2,105,240
$2.1M
Cap Rate 7%
$1,503,743
$1.5M
Cap Rate 9%
$1,169,578
$1.2M
Market Conditions
NOI Build-Up for 7,600 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
$144.1K $18.96/SF
− Vacancy
−$3.7K −$0.49/SF
EGI
$140.3K $18.47/SF
− OpEx
−$35.1K −$4.62/SF
NOI
$105.3K $13.85/SF
Area
Eau Claire County, WI
Vacancy
2.60%
Lease Rate
$18.96 /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%
$2,105,240
Cap Rate 7%
$1,503,743
Cap Rate 9%
$1,169,578
Alternative Uses
Best Use
Specialty Retail
$1.50M
$1.32M – $1.75M
NOI $105,262 @ 7.0% cap · market cap 8.77%
Second Best
Mixed Use
$1.35M
$1.18M – $1.57M
NOI $94,392 @ 7.0% cap · market cap 7.87%
Theoretical Best
Industrial
$8.58M
$7.51M – $10.01M
NOI $600,415 @ 7.0% cap · market cap 50.03%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
949
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 54703, WI
44,593
Population
19,120
Households
2.3
Avg Household Size
35
Median Age
31%
College-Educated
95%
High-School Grad
81.1 sq mi
ZIP Area
550
Density / Sq Mi
$68,801
Median Household Income
$37,521
Median Earnings
$986
Median Rent
$224,600
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Retail in Midwest region
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Frequently Asked Questions
What type of property is this?
Bar & Pub - Includes a commercial kitchen, operating business, furnishings, and an upper-level apartment.
Where is this bar & pub located?
The property is located at 442 WATER ST Eau Claire, WI.
What is the asking price?
The asking price for this property is $1,200,000.
What are key features of this property?
This property features: 7,600 SF building arranged across three levels; Built in 2005; Commercial kitchen, bar equipment, and FF&E included
