Building Details

Stories 2

Listing Agency: First Weber Hedeman Group

Listed By: Joel Hedeman · License #5649390158310 Show Phone

Source: Soldinmadison

Added: Jul 18 Changed: Oct 16 Last Checked: Oct 7 at 1:50PM

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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 First Weber Hedeman Group

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Investment Insights

Based on property information with market context.

Riley Tavern is an established, turnkey hospitality operation offering tavern service along with multiple event and entertainment areas. The outdoor space includes a covered front porch, a 75 x 90 green space, and a detached event space with roll-up garage doors and an additional covered patio. Indoor amenities include a game room and an indoor garden-themed room.

The property also features event and gathering accommodations, and the second floor includes two beds, two baths, offices, and a living area.

The business is presented as ready for new ownership, with the combination of tavern space and dedicated event facilities designed to support year-round use.

Key Highlights

• Established Riley Tavern operating since 1948 with tavern operations and gathering‑focused spaces
• Outdoor space includes a covered front porch, a 75 x 90 green space, and a detached event space with roll‑up garage doors
• Detached event area also features another covered patio, plus a game room and an indoor garden‑themed room

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$77,379

Cap Rate

8.80%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,547,580 $1.5M

Cap Rate 7%

$1,105,414 $1.1M

Cap Rate 9%

$859,767 $859.8K

Is this asking price fair?

Market Conditions

NOI Build-Up for 6,059 SF

Gross rent

$109.1K $18.00/SF

− Vacancy

−$5.9K −$0.97/SF

EGI

$103.2K $17.03/SF

− OpEx

−$25.8K −$4.26/SF

NOI

$77.4K $12.77/SF

Area

Dane County, WI

Vacancy

5.40%

Lease Rate

$18.00 /SF/Yr

Expense Ratio

25.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,547,580

Cap Rate 7%

$1,105,414

Cap Rate 9%

$859,767

Alternative Uses

Best Use

Specialty Retail

$1.11M

$967.2K – $1.29M (±1% cap)

NOI $77,379 @ 7.0% cap · market cap 8.80%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$1.41M

$1.23M – $1.64M (±1% cap)

NOI $98,559 @ 7.0% cap · market cap 11.21%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Bars & Pubs

Suggested Use

Top Pick Parking Lot & Garage Garden Center Gym & Fitness Center Bar & Pub

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

Turnkey business

Opportunity

Location Intelligence

Trade Area within ½ mile

11

Businesses Nearby

Well-served

Demand for This Use

Explore this area Business Placement

Demographics for 53593, WI

28,232

Population

12,583

Households

2.2

Avg Household Size

37

Median Age

68%

College-Educated

99%

High-School Grad

76.2 sq mi

ZIP Area

370

Density / Sq Mi

$135,699

Median Household Income

$74,356

Median Earnings

$1,530

Median Rent

$464,700

Median Home Value

Market

Vacancy Rate% for Retail in Midwest region

8% 2020

7.3% 2021

6.5% 2022

6% 2023

5.7% 2024

6.3% 2025

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Similar Off Market Nearby

• Riley Tavern — 8205 Klevenville-Riley Rd, Verona, WI 53593

Frequently Asked Questions

What type of property is this?

Bar & Pub - Riley Tavern includes tavern operations plus covered outdoor event space and event rooms suited for gatherings.

Where is this bar & pub located?

The property is located at 8205 Klevenville Riley Rd Verona, WI.

What is the asking price?

The asking price for this property is $879,000.

What are key features of this property?

This property features: Established Riley Tavern operating since 1948 with tavern operations and gathering‑focused spaces; Outdoor space includes a covered front porch, a 75 x 90 green space, and a detached event space with roll‑up garage doors; Detached event area also features another covered patio, plus a game room and an indoor garden‑themed room