Established Tavern with Event
For Sale
$879,000
8205 Klevenville Riley Road, Verona, WI 53593
Business/Comm, Verona, WI
Property Size6,059 SF
Lot Size0.72 Acres
Price / SF$145.07
Days on Market127
Property Features for 8205 Klevenville Riley Road
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
COMM
Interior features
Public rest rooms, Private Restrooms, Inside storage, Outside storage
Lot features
Free standing
Directions
Hwy 18/151 to NE on Hwy PD, N on Cty J, W on Klevenville Riley Rd.
Subdivision
SPRINGDALE - T
Standard status
Active
APN
0607-024-0245-1
Size
6,059 SF
Lot size
0.72 Acres
Taxes and HOA fees
Tax Year
2024
Tax Annual Amount
10173
Amenities
covered front porch
green space
covered patio
game room
indoor garden themed room
detached event space with roll up garage doors
Building Details
Number of units
2
Roof type
Composition
Additional Structures
Storage
Listing Agency:
First Weber Hedeman Group
(608) 325-2000
Listed By:
Joel Hedeman · License #5649390158310
(608) 325-2000
Added: Apr 28
Changed: Aug 31
Last Checked: Sep 1 at 4:06PM
MLS# 2011541
Copyright © 2026 REALTORS® Association of South Central 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 6,059-square-foot tavern property occupies 0.72 acres and includes a primary hospitality building plus a detached event structure. The improvements provide public and private restrooms, interior and exterior storage, a covered front porch, and multiple areas suited to dining, entertainment, and private functions. The detached building includes roll-up garage doors, a covered patio, a game room, and an indoor garden-themed room. Upstairs, the tavern contains two beds, two baths, offices, and a living area.
The property is located in Verona, Wisconsin, adjacent to the Military Ridge bike trail and positioned between Madison, Verona, and Mount Horeb. The COMM zoning designation and combination of tavern, event, and outdoor areas support a range of hospitality and gathering uses described for the property. A composition roof serves the buildings.
The property is located in Verona, Wisconsin, adjacent to the Military Ridge bike trail and positioned between Madison, Verona, and Mount Horeb. The COMM zoning designation and combination of tavern, event, and outdoor areas support a range of hospitality and gathering uses described for the property. A composition roof serves the buildings.
Key Highlights
- 6,059‑square‑foot tavern property on 0.72 acres
- Detached event space with roll‑up garage doors and covered patio
- Covered front porch and 75 x 90 green space
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
$77,379
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
8.80%
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%
$1,547,580
$1.5M
Cap Rate 7%
$1,105,414
$1.1M
Cap Rate 9%
$859,767
$859.8K
Market Conditions
NOI Build-Up for 6,059 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
$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 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%
$1,547,580
Cap Rate 7%
$1,105,414
Cap Rate 9%
$859,767
Alternative Uses
Best Use
Specialty Retail
$1.11M
$967.2K – $1.29M
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
NOI $98,559 @ 7.0% cap · market cap 11.21%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
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
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Riley Tavern — 8205 Klevenville-Riley Rd, Verona, WI 53593
Frequently Asked Questions
What type of property is this?
Bar & Pub - Commercially zoned tavern with indoor and outdoor gathering areas, guest facilities, storage, and an adjoining bike trail setting.
Where is this bar & pub located?
The property is located at 8205 Klevenville Riley Road 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: 6,059‑square‑foot tavern property on 0.72 acres; Detached event space with roll‑up garage doors and covered patio; Covered front porch and 75 x 90 green space
