Turnkey Restaurant Opportunity For
For Sale
$395,000
520 S Pearl Street, New London, WI 54961
Well-maintained restaurant with equipment, client list, and liquor license.
Property Size4,300 SF
Lot Size0.54 Acres
Price / SF$91.86
Days on Market210
Property Features for 520 S Pearl Street
General Information
Standard status
Active
Size
4,300 SF
Lot size
0.54 Acres
Taxes and HOA fees
Annual Taxes
$5,700
Listing Agency:
Century 21 Ace Realty
(920) 841-5374
Listed By:
Sandra DuFrane · License #9052028
(920) 841-5374
Source:
Exprealty
Added: Jan 26
Changed: Aug 24
Last Checked: Aug 24 at 1:21PM
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 Century 21 Ace Realty
Investment Insights
Based on property information with market context.
The property features a well-maintained 4300 square foot restaurant building, offered for sale including equipment and client list. The restaurant has been in operation for many years, serving breakfasts, lunches, and dinners. The seating capacity is nearly 200 patrons, suitable for banquets, meetings, and showers. A full bar with a liquor license is included. The sale includes grills, fryers, toasters, dishes, tables, chairs, coolers, freezers, salad bars, and decor. Inventory will be transferred by Bill of Sale. The list price includes Waupaca County tax IDs 33 12 77270 and 33 12 77261.
Key Highlights
- Fully equipped and operational 4300 sq ft restaurant, ready for immediate takeover.
- Includes a full bar with a liquor license.
- Seating capacity for nearly 200 patrons, suitable for banquets and events.
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
$31,286
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
7.92%
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%
$625,720
$625.7K
Cap Rate 7%
$446,943
$446.9K
Cap Rate 9%
$347,622
$347.6K
Market Conditions
NOI Build-Up for 4,300 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
$42.8K $9.96/SF
− Vacancy
−$1.1K −$0.26/SF
EGI
$41.7K $9.70/SF
− OpEx
−$10.4K −$2.43/SF
NOI
$31.3K $7.28/SF
Area
Waupaca County, WI
Vacancy
2.60%
Lease Rate
$9.96 /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%
$625,720
Cap Rate 7%
$446,943
Cap Rate 9%
$347,622
Alternative Uses
Best Use
Specialty Retail
$446.9K
$391.1K – $521.4K
NOI $31,286 @ 7.0% cap · market cap 7.92%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$805.4K
$704.8K – $939.7K
NOI $56,381 @ 7.0% cap · market cap 14.27%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
399
Businesses Nearby
38k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Groceries 70%
Shops & Services 21%
Dining 9%
Skogen's Festival Foods
Groceries
26,353 visits/mo
0.5 miles
BP
Shops & Services
3,529 visits/mo
0.2 miles
Little Caesars Pizza
Dining
3,178 visits/mo
0.4 miles
Community First Credit Union
Shops & Services
3,064 visits/mo
0.4 miles
Associated Bank
Shops & Services
1,522 visits/mo
0.3 miles
Demographics for 54961, WI
14,122
Population
6,249
Households
2.3
Avg Household Size
43
Median Age
18%
College-Educated
91%
High-School Grad
124.1 sq mi
ZIP Area
114
Density / Sq Mi
$71,337
Median Household Income
$43,960
Median Earnings
$841
Median Rent
$196,600
Median Home Value
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Restaurant - Well-maintained restaurant with equipment, client list, and liquor license.
Where is this restaurant located?
The property is located at 520 S Pearl Street New London, WI.
What is the asking price?
The asking price for this property is $395,000.
What are key features of this property?
This property features: Fully equipped and operational 4300 sq ft restaurant, ready for immediate takeover.; Includes a full bar with a liquor license.; Seating capacity for nearly 200 patrons, suitable for banquets and events.
