Brick Drive-Through Restaurant
For Sale
$749,900
802 George St, De Pere, WI 54115
Standalone restaurant property with an existing operation, two-lane vehicle service, and recent building updates.
Property Size3,904 SF
Price / SF$192.09
Days on Market44
Property Features for 802 George St
General Information
Standard status
Active
Size
3,904 SF
Building Details
Year Built
1977
Listing Agency:
Resource One Realty, LLC
(920) 536-0125
Listed By:
James D. Depas · License #91700983
Source:
Smartteamhomes
Added: Jul 20
Changed: Aug 30
Last Checked: Aug 31 at 7:38PM
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 Resource One Realty, LLC
Investment Insights
Based on property information with market context.
The 3,904-square-foot standalone building was constructed in 1977 and features all-brick exterior construction, a two-lane drive-through, on-site parking, and prominent signage. Recent improvements include a roof replacement in 2022, a tankless water heater installed in 2023, a sump pump with backup added in 2024, and updated signage completed in 2024. Great Harvest Bread is included in the sale, providing an operating restaurant component within the property.
The property is located at 802 George St in De Pere, across from a private elementary school, near St. Norbert College, and steps from the Mulva Cultural Center. Its downtown setting and visibility along Main Street add to the building’s established commercial presence.
The property is located at 802 George St in De Pere, across from a private elementary school, near St. Norbert College, and steps from the Mulva Cultural Center. Its downtown setting and visibility along Main Street add to the building’s established commercial presence.
Key Highlights
- 3,904‑square‑foot standalone restaurant building constructed in 1977
- Two‑lane drive‑through with on‑site parking
- All‑brick building with prominent signage
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
$51,334
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
6.85%
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%
$1,026,680
$1.0M
Cap Rate 7%
$733,343
$733.3K
Cap Rate 9%
$570,378
$570.4K
Market Conditions
NOI Build-Up for 3,904 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
$70.3K $18.00/SF
− Vacancy
−$1.8K −$0.47/SF
EGI
$68.4K $17.53/SF
− OpEx
−$17.1K −$4.38/SF
NOI
$51.3K $13.15/SF
Area
Brown County, WI
Vacancy
2.60%
Lease Rate
$18.00 /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%
$1,026,680
Cap Rate 7%
$733,343
Cap Rate 9%
$570,378
Alternative Uses
Best Use
Specialty Retail
$733.3K
$641.7K – $855.6K
NOI $51,334 @ 7.0% cap · market cap 6.85%
Second Best
Retail
$562.2K
$491.9K – $655.9K
NOI $39,352 @ 7.0% cap · market cap 5.25%
Theoretical Best
Warehouse
$3.26M
$2.86M – $3.81M
NOI $228,516 @ 7.0% cap · market cap 30.47%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
594
Businesses Nearby
9k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 73%
Dining 27%
Citgo
Shops & Services
2,507 visits/mo
0.1 miles
Associated Bank
Shops & Services
2,375 visits/mo
0.3 miles
Great Harvest Bread Co.
Dining
2,316 visits/mo
0.1 miles
Take 5 Oil Change
Shops & Services
762 visits/mo
0.1 miles
BP
Shops & Services
630 visits/mo
0.4 miles
Demographics for 54115, WI
48,710
Population
20,415
Households
2.4
Avg Household Size
37
Median Age
40%
College-Educated
96%
High-School Grad
124.0 sq mi
ZIP Area
393
Density / Sq Mi
$92,023
Median Household Income
$46,843
Median Earnings
$1,071
Median Rent
$307,800
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?
Drive through restaurant - Standalone restaurant property with an existing operation, two-lane vehicle service, and recent building updates.
Where is this drive through restaurant located?
The property is located at 802 George St De Pere, WI.
What is the asking price?
The asking price for this property is $749,900.
What are key features of this property?
This property features: 3,904‑square‑foot standalone restaurant building constructed in 1977; Two‑lane drive‑through with on‑site parking; All‑brick building with prominent signage
