Established Bar and Pub with
For Sale
$899,000
8403 Antioch Rd, Salem, WI 53168
Operating hospitality business with a renovated commercial kitchen and updated building systems.
Property Size3,500 SF
Price / SF$256.86
Days on Market16
Property Features for 8403 Antioch Rd
General Information
Standard status
Active
Size
3,500 SF
Additional Details
Business Included
Yes
Equipment Included
Yes
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$7,497
Listing Agency:
@properties
(262) 705-4907
Listed By:
Jake Hansen · License #5400694
(262) 705-4907
Source:
Exprealty
Added: Jul 24
Changed: Aug 3
Last Checked: Aug 8 at 9:04AM
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 @properties
Investment Insights
Based on property information with market context.
This 3,500-square-foot bar and pub property at 8403 Antioch Rd includes the operating business, equipment, inventory, and associated business rights. The commercial kitchen has undergone extensive renovation, while the property also features updated coolers, HVAC, and insulation. The business has operated since 1880, providing a long-established presence in the Salem community.
An updated 1,000-square-foot apartment occupies the upper level and can support rental income or owner occupancy. The offering combines an operating hospitality business with an income-producing residential component and renovated commercial improvements.
An updated 1,000-square-foot apartment occupies the upper level and can support rental income or owner occupancy. The offering combines an operating hospitality business with an income-producing residential component and renovated commercial improvements.
Key Highlights
- Operating bar and pub business established in 1880
- 3,500‑square‑foot property at 8403 Antioch Rd
- Sale includes business, equipment, inventory, and business rights
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
$44,510
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
4.95%
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%
$890,200
$890.2K
Cap Rate 7%
$635,857
$635.9K
Cap Rate 9%
$494,556
$494.6K
Market Conditions
NOI Build-Up for 3,500 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
$63.0K $18.00/SF
− Vacancy
−$3.7K −$1.04/SF
EGI
$59.3K $16.96/SF
− OpEx
−$14.8K −$4.24/SF
NOI
$44.5K $12.72/SF
Area
Kenosha County, WI
Vacancy
5.80%
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%
$890,200
Cap Rate 7%
$635,857
Cap Rate 9%
$494,556
Alternative Uses
Best Use
Industrial
$3.36M
$2.94M – $3.92M
NOI $234,900 @ 7.0% cap · market cap 26.13%
Second Best
Specialty Retail
$635.9K
$556.4K – $741.8K
NOI $44,510 @ 7.0% cap · market cap 4.95%
Theoretical Best
Warehouse
$4.07M
$3.57M – $4.75M
NOI $285,236 @ 7.0% cap · market cap 31.73%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
1
Residential units
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
94
Businesses Nearby
6k
Monthly Visits Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 100%
Citgo
Shops & Services
6,438 visits/mo
0.2 miles
Demographics for 53168, WI
8,687
Population
4,072
Households
2.1
Avg Household Size
42
Median Age
30%
College-Educated
92%
High-School Grad
32.5 sq mi
ZIP Area
267
Density / Sq Mi
$104,712
Median Household Income
$56,262
Median Earnings
$1,268
Median Rent
$289,500
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?
Bar & Pub - Operating hospitality business with a renovated commercial kitchen and updated building systems.
Where is this bar & pub located?
The property is located at 8403 Antioch Rd Salem, WI.
What is the asking price?
The asking price for this property is $899,000.
What are key features of this property?
This property features: Operating bar and pub business established in 1880; 3,500‑square‑foot property at 8403 Antioch Rd; Sale includes business, equipment, inventory, and business rights
