Furnished Restaurant
New
For Sale
$725,000
627 E Main St, Waukesha, WI 53186
Furnished commercial space includes patio service windows and on-site parking.
Property Size2,200 SF
Lot Size1.00 Acre
Price / SF$329.55
Days on Market4
Property Features for 627 E Main St
General Information
Standard status
Active
Size
2,200 SF
Class
C
Lot size
1.00 Acre
Property subtype
Restaurant
Additional Details
Furnished
Yes
Pylon Signage
Yes
Patio
Yes
Building Details
Building Size
2,200 SF
Year Built
1948
Listing Agency:
Anderson Commercial Group
(414) 858-5205
Listed By:
Craig Friemoth · License #9479063
(414) 858-5205
Source:
Thebrokerlist
Added: Aug 28
Changed: Aug 30
Last Checked: Aug 30 at 5:42PM
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 Anderson Commercial Group
Investment Insights
Based on property information with market context.
This restaurant property offers +/- 2,200 SF of furnished, equipped commercial space designed for immediate occupancy and operation. The building was constructed in 1948, and the interior includes restaurant furnishings and equipment.
The property occupies nearly 1 acre at 627 E Main St in Waukesha, Wisconsin. Site features include parking, an outdoor patio with service windows, and prominent monument signage. The existing layout combines the building, customer-access features, and outdoor seating area on one commercial site.
The property occupies nearly 1 acre at 627 E Main St in Waukesha, Wisconsin. Site features include parking, an outdoor patio with service windows, and prominent monument signage. The existing layout combines the building, customer-access features, and outdoor seating area on one commercial site.
Key Highlights
- +/- 2,200 SF furnished and equipped restaurant space
- Nearly 1 acre of commercial property
- Outdoor patio with service windows
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
$47,718
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
6.58%
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%
$954,360
$954.4K
Cap Rate 7%
$681,686
$681.7K
Cap Rate 9%
$530,200
$530.2K
Market Conditions
NOI Build-Up for 2,200 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
$66.0K $30.00/SF
− Vacancy
−$2.4K −$1.08/SF
EGI
$63.6K $28.92/SF
− OpEx
−$15.9K −$7.23/SF
NOI
$47.7K $21.69/SF
Area
Waukesha County, WI
Vacancy
3.60%
Lease Rate
$30.00 /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%
$954,360
Cap Rate 7%
$681,686
Cap Rate 9%
$530,200
Alternative Uses
Best Use
Specialty Retail
$681.7K
$596.5K – $795.3K
NOI $47,718 @ 7.0% cap · market cap 6.58%
Second Best
—
—
no second resolved use
Theoretical Best
Flex RnD
$1.12M
$982.5K – $1.31M
NOI $78,597 @ 7.0% cap · market cap 10.84%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,340
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 53186, WI
32,332
Population
15,066
Households
2.1
Avg Household Size
38
Median Age
39%
College-Educated
95%
High-School Grad
12.6 sq mi
ZIP Area
2,566
Density / Sq Mi
$74,596
Median Household Income
$42,007
Median Earnings
$1,180
Median Rent
$277,800
Median Home Value
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Conventional restaurant - Furnished commercial space includes patio service windows and on-site parking.
Where is this conventional restaurant located?
The property is located at 627 E Main St Waukesha, WI.
What is the asking price?
The asking price for this property is $725,000.
What are key features of this property?
This property features: +/- 2,200 SF furnished and equipped restaurant space; Nearly 1 acre of commercial property; Outdoor patio with service windows
