Bar and Pub with
For Sale
$225,000
468 MAX ROAD, Pelican Lake, WI 54463
COMMERCIAL - Pelican Lake, WI
Property Size1,800 SF
Lot Size2.55 Acres
Price / SF$125
Days on Market127
Property Features for 468 MAX ROAD
General Information
Property type
Commercial Sale
Property subtype
Other
Standard status
Active
Size
1,800 SF
Lot size
2.55 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
1393
Utilities
Heating system
Forced Air
Cooling system
Central Air
Amenities
volleyball court with outside speaker system
Building Details
Year built
1900
Building materials
Wood, Metal
Roof type
Metal, Membrane
Listing Agency:
ABSOLUTE REALTORS
(715) 627-4885
Listed By:
LISA KUENZLI · License #4973194
(715) 610-2393
Added: Apr 1
Changed: Aug 4
Last Checked: Aug 5 at 9:06PM
MLS# 22601307
Copyright © 2026 Central Wisconsin MLS. 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 1,800-square-foot tavern at 468 Max Road includes a kitchen area, central air conditioning, forced-air heat, and an updated roof. The building also offers room for convenience-store or small-restaurant operations, with potential living quarters on the upper level. Construction includes wood and metal components, while the roof systems are metal and membrane.
Recreational features support activity across the seasons. The property includes a volleyball court with an exterior speaker system for summer use, along with pool and dart leagues during winter. The tavern has served the area for 38 years, and the sellers are preparing to retire. A 2.55-acre tax parcel and GIS map relates to both the tavern and an adjacent home, with the parcel division to occur if the bar is sold separately.
Recreational features support activity across the seasons. The property includes a volleyball court with an exterior speaker system for summer use, along with pool and dart leagues during winter. The tavern has served the area for 38 years, and the sellers are preparing to retire. A 2.55-acre tax parcel and GIS map relates to both the tavern and an adjacent home, with the parcel division to occur if the bar is sold separately.
Key Highlights
- 1,800‑square‑foot tavern with kitchen area
- Updated roof, central air conditioning, and forced‑air heat
- Space for a convenience store or small restaurant
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 | $23.8k | $13.20 |
| − Vacancy | −$618 | −$0.34 |
| EGI | $23.1k | $12.86 |
| − OpEx | −$6.9k | −$3.86 |
| NOI | $16.2k | $9.00 |
1,800 SF · lease $13.20/SF/yr · vacancy 2.60% · expense 30.00%
Alternative Uses
Best Use
Specialty Retail
$338.1K
$295.9K – $394.5K
NOI $23,668 @ 7.0% cap · market cap 10.52%
Second Best
Retail
$231.4K
$202.5K – $270.0K
NOI $16,200 @ 7.0% cap · market cap 7.20%
Theoretical Best
Industrial
$842.5K
$737.2K – $982.9K
NOI $58,974 @ 7.0% cap · market cap 26.21%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
7
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 54463, WI
714
Population
1,057
Households
0.7
Avg Household Size
60
Median Age
21%
College-Educated
95%
High-School Grad
91.4 sq mi
ZIP Area
8
Density / Sq Mi
$56,765
Median Household Income
$45,833
Median Earnings
$807
Median Rent
$231,500
Median Home Value
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Jennings Bar/Home of the Rock and Dick — 468 Max Rd, Pelican Lake, WI 54463
Frequently Asked Questions
What type of property is this?
Bar & Pub - Established tavern with food-service space, updated building systems, and recreational amenities for year-round community use.
Where is this bar & pub located?
The property is located at 468 MAX ROAD Pelican Lake, WI.
What is the asking price?
The asking price for this property is $225,000.
What are key features of this property?
This property features: 1,800‑square‑foot tavern with kitchen area; Updated roof, central air conditioning, and forced‑air heat; Space for a convenience store or small restaurant
