Leased Bar and
For Sale
$379,000
6098 S State Highway 35, Superior, WI 54880
CommercialSale, Superior, WI
Property Size2,762 SF
Lot Size7.87 Acres
Price / SF$137.22
Days on Market326
Property Features for 6098 S State Highway 35
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
Commercial, Forestry
Rooms
Basement
Elementary school district
Superior
Middle school district
Superior
High school district
Superior
Directions
Hwy 35 South of Superior to 1/4 mile before County Hwy B on East side of road
Standard status
Active
APN
TS-030-00512-00
Size
2,762 SF
Lot size
7.87 Acres
Taxes and HOA fees
Tax Year
2024
Tax Annual Amount
2670
Utilities
Sewer type
Holding Tank, Septic Tank
Heating system
Forced Air
Cooling system
Central Air, Ductless
Water source
Private, Well
Amenities
horseshoe pits
fire pit area
Building Details
Year built
1950
Building materials
Steel, VinylSiding
Listing Agency:
Dane Arthur Real Estate Agency/Birchwood
(715) 354-9773
Listed By:
Steven Swoboda · License #50191-90
(715) 296-0200
Added: Oct 24, 2025
Changed: Sep 13
Last Checked: Sep 14 at 8:06AM
MLS# 1596674
Copyright © 2026 REALTORS® Association of Northwestern Wisconsin. 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 2,762-square-foot bar and restaurant property dates to 1950 and is currently leased. The building uses steel and vinyl siding, with forced-air heat and central air conditioning supplemented by ductless cooling. A newly finished two-bedroom apartment adds residential space, and the property includes a basement.
Set on 7.87 acres along S State Highway 35 in Superior, the site provides extensive outdoor space with horseshoe pits, a fire pit area, and wooded back acreage. Ample parking supports the existing operation and outdoor activities. Private well service and septic and holding-tank systems serve the property.
Set on 7.87 acres along S State Highway 35 in Superior, the site provides extensive outdoor space with horseshoe pits, a fire pit area, and wooded back acreage. Ample parking supports the existing operation and outdoor activities. Private well service and septic and holding-tank systems serve the property.
Key Highlights
- 2,762‑square‑foot bar and restaurant property currently leased
- 7.87‑acre site at 6098 S State Highway 35, Superior, WI 54880
- Newly finished 2 bedroom apartment
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
$27,965
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
7.38%
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%
$559,300
$559.3K
Cap Rate 7%
$399,500
$399.5K
Cap Rate 9%
$310,722
$310.7K
Market Conditions
NOI Build-Up for 2,762 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
$49.7K $18.00/SF
− Vacancy
−$5.0K −$1.80/SF
EGI
$44.7K $16.20/SF
− OpEx
−$16.8K −$6.07/SF
NOI
$28.0K $10.13/SF
Area
Douglas County, WI
Vacancy
10.00%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
37.50%
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%
$559,300
Cap Rate 7%
$399,500
Cap Rate 9%
$310,722
Alternative Uses
Best Use
Specialty Retail
$870.8K
$762.0K – $1.02M
NOI $60,959 @ 7.0% cap · market cap 16.08%
Second Best
Mixed Use
$399.5K
$349.6K – $466.1K
NOI $27,965 @ 7.0% cap · market cap 7.38%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
11
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 54880, WI
30,400
Population
14,325
Households
2.1
Avg Household Size
39
Median Age
28%
College-Educated
94%
High-School Grad
166.1 sq mi
ZIP Area
183
Density / Sq Mi
$66,942
Median Household Income
$40,813
Median Earnings
$901
Median Rent
$176,700
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
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
- Piglet's Grill & Cantina — 6098 WI-35, Superior, WI 54880
Frequently Asked Questions
What type of property is this?
Bar & Pub - Operating hospitality property with a finished two-bedroom apartment, outdoor gathering areas, and substantial land area.
Where is this bar & pub located?
The property is located at 6098 S State Highway 35 Superior, WI.
What is the asking price?
The asking price for this property is $379,000.
What are key features of this property?
This property features: 2,762‑square‑foot bar and restaurant property currently leased; 7.87‑acre site at 6098 S State Highway 35, Superior, WI 54880; Newly finished 2 bedroom apartment
