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    Turn-Key Commercial Property on Hwy 42 Title is generated by Realmo AI

    8491 Hwy 42, Fish Creek, WI 54212

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    For Sale
    $649,000

    COMMERCIAL - Town of Gibraltar, WI

    Property size:
    2,649 SF
    Lot size:
    0.40 Acres
    Price / SF:
    $244/SF
    Added:
    May 7, 2026
    Days on Market:
    25
    Last Refresh:
    May 31 at 12:06 pm

    Property Features for 8491 Hwy 42

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Zoning
    GC (General Commercial)
    Standard status
    Active
    Size
    2,649 SF
    Lot size
    0.40 Acres

    Taxes and HOA fees

    Tax Annual Amount
    2351

    Building Details

    Year built
    1955

    We can help!

    Listing Contact
    Steve Jacobs

    Listing agent Steve Jacobs License #94-95707

    Listing office Harbour Real Estate Group LLC 1009 Egg Harbor Rd, Sturgeon Bay, WI

    Listing date May 7, 2026

    MLS# 147187

    Copyright © 2026 Door County MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • Prime location on Hwy 42 between Fish Creek and Egg Harbor in a highly desirable Door County corridor.
    • General Commercial zoning allows for flexible use: private residence, short‑term rentals, or a combination of both.
    • Turn‑key opportunity with recent major addition including a gourmet kitchen, living space, full bath, and bedroom.
    • Potential for income generation through short‑term rentals to offset ownership costs.
    • Previously used as a rental property in the front and retail space in the back.
    • Includes 6 parking spaces.

    Overview

    This turn-key commercial property is located on Hwy 42 between Fish Creek and Egg Harbor, in a sought-after Door County corridor. The General Commercial zoning provides flexibility for various uses, including a private residence, two income-producing short-term rentals, or a short-term rental in the back with on-site living in the front. The previous owner utilized the property as a rental in the front and retail space in the back, with 6 parking spaces available. A recent major addition includes a gourmet kitchen, an inviting living space, a full bath, and a bedroom. The property offers prime location and potential. The property size is 2649 square feet and the lot size is 0.4 acres.
    Property Profile Location Intelligence

    Current Use by Public Records

    Storefront properties

    Suggested Use

    Restaurant Real Estate Agency Big Box & Wholesale Store Gym & Fitness Center Hotel & Motel Food Market Bar & Pub Wine and Liquor Store Travel Agency Bed & Breakfast

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Fish Creek
    County
    Door
    State
    Wisconsin
    Longitude
    -87.248217
    Latitude
    45.088318

    FAQs

    What type of property is this?
    Storefront property - Rare opportunity with income potential in a prime Door County location.
    Where is this storefront property located?
    The property is located at 8491 Hwy 42 Fish Creek, WI.
    What is the asking price?
    The asking price for this property is $649,000.
    What are key features of this property?
    This property features: Prime location on Hwy 42 between Fish Creek and Egg Harbor in a highly desirable Door County corridor.; General Commercial zoning allows for flexible use: private residence, short‑term rentals, or a combination of both.; Turn‑key opportunity with recent major addition including a gourmet kitchen, living space, full bath, and bedroom.
    (920) 333-2855
    We can help!
    Listing Contact
    Steve Jacobs
    Real Estate License ID: 94-95707
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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