Vacant Restaurant
4525 Calumet Ave Manitowoc, WI 54220
4525 Calumet Ave, Manitowoc, WI, 54220
$1,279,000
For Sale
$1,279,000
Vacant restaurant building of approximately 5,400 square feet previously operated as a Perkins, located in a major retail corridor.
Property Size5,400 SF
Price / SF$236.85
Days on Market51
Property Features for 4525 Calumet Ave
General Information
- Standard status
- Active
- Size
- 5,400 SF
- Property subtype
- Single-Tenant Vacant-User
Listing agency
Marcus & Millichap
(262) 364-1924
Listed by
Jeff R. Rowlett · License #License(s): WI: 74743-94, IL: 471.016866
(262) 364-1924
Source
Marcusmillichap
Added: Jun 1 Updated: Jul 20 at 6:02PM Checked: Jul 21 at 2:59AM
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 Marcus & Millichap
Investment Insights
Based on property information with market context.
Marcus & Millichap is pleased to present a vacant restaurant building for sale or lease. The building is approximately 5,400 square feet and was previously operated as a Perkins, offering a ready-to-occupy restaurant format for a new operator.
The property sits in a major retail corridor with strong visibility, ample parking, and proximity to national retailers, supporting convenient customer access.
This offering presents an established restaurant space within a high-activity commercial setting, with the core operational footprint already in place.
The property sits in a major retail corridor with strong visibility, ample parking, and proximity to national retailers, supporting convenient customer access.
This offering presents an established restaurant space within a high-activity commercial setting, with the core operational footprint already in place.
Key Highlights
- Vacant restaurant building with approximately 5,400 SF
- Previously operated as a Perkins restaurant
- Located in a major retail corridor with strong visibility
Local Financial Insights For Specialty 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 | $113.4k | $21.00 |
| − Vacancy | −$2.9k | −$0.55 |
| EGI | $110.5k | $20.45 |
| − OpEx | −$27.6k | −$5.11 |
| NOI | $82.8k | $15.34 |
5,400 SF · lease $21.00/SF/yr · vacancy 2.60% · expense 25.00%
Alternative Uses
Best Use
Specialty Retail
$1.18M
$1.04M – $1.38M
NOI $82,839 @ 7.0% cap · market cap 6.48%
Second Best
—
—
no second resolved use
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Perkins Restaurant & Bakery
Restaurant
Similar For Sale Nearby
FAQs
What type of property is this?
Conventional restaurant - Vacant restaurant building of approximately 5,400 square feet previously operated as a Perkins, located in a major retail corridor.
Where is this conventional restaurant located?
The property is located at 4525 Calumet Ave Manitowoc, WI.
What is the asking price?
The asking price for this property is $1,279,000.
What are key features of this property?
This property features: Vacant restaurant building with approximately 5,400 SF; Previously operated as a Perkins restaurant; Located in a major retail corridor with strong visibility
