Restaurant with Attached
For Sale
$579,900
5506 State Highway 32, Gillett, WI 54124
Rebuilt restaurant property with commercial kitchen equipment, an attached residence, and a separate pole building.
Property Size4,112 SF
Lot Size1.00 Acre
Price / SF$141.03
Days on Market52
Property Features for 5506 State Highway 32
General Information
Standard status
Active
Size
4,112 SF
Lot size
1.00 Acre
Additional Details
Business Included
Yes
Equipment Included
Yes
Building Details
Year Built
2009
Buildings
2
Listing Agency:
Mark D Olejniczak Realty, Inc.
Listed By:
Patrick J. Austin · License #94-66581
(920) 595-0758
Source:
Moving2greenbay
Added: Sep 9
Changed: Oct 25
Last Checked: Oct 7 at 3:49PM
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 Mark D Olejniczak Realty, Inc.
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Investment Insights
Based on property information with market context.
This restaurant property was rebuilt in 2009 and includes 4,112 square feet of commercial improvements on 1 acre. The dining area accommodates over 100 guests, while the equipped kitchen includes a walk-in cooler, walk-in freezer, beer cooler, preparation area, dishwashing station, double pizza ovens sized for 14 pizzas, griddle, 4 fryers, broaster, ice machine, and stand-up freezer.
An attached 3-bedroom, 1-bath residence provides 1,200+ square feet and is suited to owner occupancy or rental use. The property also includes a 30x40 pole building, adding separate storage or workspace. Located at 5506 State Highway 32 in Gillett, Wisconsin, the offering combines a restaurant operation with residential and accessory-building improvements.
An attached 3-bedroom, 1-bath residence provides 1,200+ square feet and is suited to owner occupancy or rental use. The property also includes a 30x40 pole building, adding separate storage or workspace. Located at 5506 State Highway 32 in Gillett, Wisconsin, the offering combines a restaurant operation with residential and accessory-building improvements.
Key Highlights
- Restaurant property rebuilt in 2009 with 4,112 square feet of improvements
- 1‑acre property with seating for over 100 guests
- Commercial kitchen includes double pizza ovens, 4 fryers, griddle, broaster, and dishwashing station
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$42,559
Cap Rate
7.34%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$851,180
$851.2K
Cap Rate 7%
$607,986
$608.0K
Cap Rate 9%
$472,878
$472.9K
Market Conditions
NOI Build-Up for 4,112 SF
Gross rent
$74.0K $18.00/SF
− Vacancy
−$5.9K −$1.44/SF
EGI
$68.1K $16.56/SF
− OpEx
−$25.5K −$6.21/SF
NOI
$42.6K $10.35/SF
Area
Oconto County, WI
Vacancy
8.00%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
37.50%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$851,180
Cap Rate 7%
$607,986
Cap Rate 9%
$472,878
Alternative Uses
Best Use
Specialty Retail
$803.6K
$703.2K – $937.5K
NOI $56,252 @ 7.0% cap · market cap 9.70%
Second Best
Mixed Use
$608.0K
$532.0K – $709.3K
NOI $42,559 @ 7.0% cap · market cap 7.34%
Theoretical Best
Office A
$958.7K
$838.9K – $1.12M
NOI $67,108 @ 7.0% cap · market cap 11.57%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
Who owns this building?
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Open Analytics
Current Use
Lease Details
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
5
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 54124, WI
3,619
Population
1,765
Households
2.1
Avg Household Size
47
Median Age
12%
College-Educated
91%
High-School Grad
93.1 sq mi
ZIP Area
39
Density / Sq Mi
$64,688
Median Household Income
$40,510
Median Earnings
$765
Median Rent
$131,700
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Retail in Midwest region
Frequently Asked Questions
What type of property is this?
Conventional restaurant - Rebuilt restaurant property with commercial kitchen equipment, an attached residence, and a separate pole building.
Where is this conventional restaurant located?
The property is located at 5506 State Highway 32 Gillett, WI.
What is the asking price?
The asking price for this property is $579,900.
What are key features of this property?
This property features: Restaurant property rebuilt in 2009 with 4,112 square feet of improvements; 1‑acre property with seating for over 100 guests; Commercial kitchen includes double pizza ovens, 4 fryers, griddle, broaster, and dishwashing station
