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    Established Restaurant & Bar Opportunity Title is generated by Realmo AI

    508 CENTRAL AVENUE, Florence, WI 54121

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    Claim this Listing
    For Sale
    $150,000

    Restaurant and bar with equipment, seating, and parking included.

    Type:General Commercial
    Property size:
    4,030 SF
    Price / SF:
    $37/SF
    Added:
    Oct 31, 2022
    Days on Market:
    1315
    Last Refresh:
    May 13 at 8:23 pm

    Property Features for 508 CENTRAL AVENUE

    General Information

    Standard status
    Active
    Size
    4,030 SF
    Property subtype
    General Commercial

    Building Details

    Year Built
    1950

    We can help!

    Listing Contact
    Mike Gotstein

    Listing agent Mike Gotstein

    Listing office Coldwell Banker Real Estate Group

    Listing date Oct 31, 2022

    Source Xome

    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 Coldwell Banker Real Estate Group

    HighLights

    • Established restaurant & bar location with 30+ year history.
    • Includes all kitchen and bar equipment, tables, and chairs.
    • High seating capacity: bar (26‑30), dining room (80+), party room (40).
    • Located on ATV/Snowmobile trail in the center of Florence.
    • Real estate includes 4000+ sq ft building and adjacent parking lot (20+ spaces).
    • Zoned G‑2 Commercial with central air, electric, and gas cooling.

    Overview

    The Dina Mia Restaurant & Bar, located in Florence, has a history of operating for over 30 years as a traditional Wisconsin Supper Club. Although currently closed, it previously offered a full menu, specializing in made-to-order pizzas, Italian cuisine, steaks, and seafood. The property includes a wrap-around bar with seating for 26 to 30 patrons, a dining room with seating for over 80, and an adjacent party room that can accommodate an additional 40 seats. The sale includes all kitchen and bar equipment, as well as tables and chairs. The real estate encompasses a building with over 4,000 square feet and an adjacent parking lot with over 20 spaces. The business is situated on the ATV/Snowmobile trail in the center of Florence.
    Property Profile Location Intelligence

    Current Use by Public Records

    Conventional restaurants

    Suggested Use

    Real Estate Agency Restaurant Law Firm Spa & Massage Center Building Supply Hair Salon Big Box & Wholesale Store Auto Repair Shop Nail Salon Pharmacy

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Florence
    County
    Florence
    State
    Wisconsin
    Longitude
    -88.250745
    Latitude
    45.922476

    Nearby Similar for Sale

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      4,030 SF

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    • $649,900
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      Established Restaurant on US Highway

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      695 US2 Highway, Florence T-WI, WI 54121
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    • $649,900
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      Established Restaurant on US Highway

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    FAQs

    What type of property is this?
    Conventional restaurant - Restaurant and bar with equipment, seating, and parking included.
    Where is this conventional restaurant located?
    The property is located at 508 CENTRAL AVENUE Florence, WI.
    What is the asking price?
    The asking price for this property is $150,000.
    What are key features of this property?
    This property features: Established restaurant & bar location with 30+ year history.; Includes all kitchen and bar equipment, tables, and chairs.; High seating capacity: bar (26‑30), dining room (80+), party room (40).
    (715) 324-5868
    We can help!
    Listing Contact
    Mike Gotstein
    Request Owner's contact information
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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