Waterfront Restaurant with
511 Wilmot Avenue, Twin Lakes, WI 53181
For Sale
New
Contact for pricing
Indoor and outdoor dining, a full kitchen, and bar service are complemented by boat access at a private pier.
Property Size6,000 SF
Price / SF$1.60
Days on Market4
Property Features for 511 Wilmot Avenue
General Information
Standard status
Size
Total Parking Spaces
Property subtype
Zoning
Additional Details
Patio
Amenities
lake-themed decor
lakeside tiki bar
private pier
storage
private rooms
Building Details
Building Size
Year Built
Listing Agency:
Compass Wisconsin-Lake Geneva
(262) 248-4492
Listed By:
Keefe & Associates Group* · License WI #5815690
(262) 649-8675
Source:
Howardandwilliams
Added: Nov 10
Changed: Nov 11
Last Checked: Nov 13 at 4:33PM
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 Compass Wisconsin-Lake Geneva
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This 6,000-square-foot restaurant, built in 2001, is positioned on the shore of Lake Mary in Twin Lakes. The dining setup accommodates 150 guests indoors and another 75 on a separate patio. Property features include a full kitchen, a full bar, and a tiki bar beside the lake, along with storage and private rooms that can serve as office or dining space.
A private pier has multiple boat slips, providing water access for restaurant visitors. Parking is available across the street. The property is zoned Commercial.
A private pier has multiple boat slips, providing water access for restaurant visitors. Parking is available across the street. The property is zoned Commercial.
Key Highlights
- 6,000‑square‑foot restaurant on Lake Mary
- Indoor seating for 150 and patio seating for 75
- Full kitchen, full bar, and lakeside tiki bar
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$76,302
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,526,040
$1.5M
Cap Rate 7%
$1,090,029
$1.1M
Cap Rate 9%
$847,800
$847.8K
Market Conditions
NOI Build-Up for 6,000 SF
Gross rent
$108.0K $18.00/SF
− Vacancy
−$6.3K −$1.04/SF
EGI
$101.7K $16.96/SF
− OpEx
−$25.4K −$4.24/SF
NOI
$76.3K $12.72/SF
Area
Kenosha County, WI
Vacancy
5.80%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,526,040
Cap Rate 7%
$1,090,029
Cap Rate 9%
$847,800
Alternative Uses
Best Use
Specialty Retail
$1.09M
$953.8K – $1.27M
NOI $76,302 @ 7.0% cap
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.31M
$1.15M – $1.53M
NOI $92,045 @ 7.0% cap
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
229
Businesses Nearby
11k
Monthly Visits Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 72%
Dining 28%
Dollar Tree
Shops & Services
5,649 visits/mo
0.5 miles
SUBWAY
Dining
2,949 visits/mo
0.3 miles
Associated Bank
Shops & Services
2,041 visits/mo
0.5 miles
Demographics for 53181, WI
7,696
Population
4,479
Households
1.7
Avg Household Size
43
Median Age
25%
College-Educated
94%
High-School Grad
13.7 sq mi
ZIP Area
562
Density / Sq Mi
$93,922
Median Household Income
$55,146
Median Earnings
$1,051
Median Rent
$270,700
Median Home Value
Market
Vacancy Rate% for Retail in Midwest region
Frequently Asked Questions
What type of property is this?
Conventional restaurant - Indoor and outdoor dining, a full kitchen, and bar service are complemented by boat access at a private pier.
Where is this conventional restaurant located?
The property is located at 511 Wilmot Avenue Twin Lakes, WI.
What are key features of this property?
This property features: 6,000‑square‑foot restaurant on Lake Mary; Indoor seating for 150 and patio seating for 75; Full kitchen, full bar, and lakeside tiki bar
