Mixed-Use Restaurant
For Sale
$1,100,000
901 FREMONT Street, Kiel, WI 53042
Commercial Sale, KIEL, WI
Property Size6,171 SF
Lot Size0.39 Acres
Price / SF$178.25
Days on Market79
Property Features for 901 FREMONT Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
Commercial
Parking features
On Street
Basement
Full
Elementary school district
Kiel Area
Middle school district
Kiel Area
High school district
Kiel Area
Directions
I-41 to Fond du Lac. Take exit 95/US-151 S Continue on US-151 N. Take Kiel Rd to County HH in Kiel, Destination on Right
Standard status
Active
APN
18182
Lot size
0.39 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
4833
Utilities
Sewer type
Public Sewer
Heating system
Forced Air, Zoned, Oil
Water source
Public
Building Details
Year built
1900
Floors in Building
1
Number of units
2
Building materials
Concrete, Vinyl Siding
Listing Agency:
Keller Williams Fox Cities · Keller Williams Realty
(920) 903-9031
Listed By:
Christopher J. Mokler
(920) 279-6104
Added: Jun 5
Changed: Aug 21
Last Checked: Aug 22 at 3:06PM
MLS# 50326863
Copyright © 2026 Realtor Association of Northeast 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 mixed-use property combines a first-floor restaurant with a second-floor residential apartment and additional basement space. The restaurant includes separate front and rear entrances, an open dining room, bar, private office, two bathrooms, and a commercial kitchen equipped with a walk-in freezer and cooler. The lower level contains partially finished dining and bar areas, a full bathroom, storage, and unfinished storage space.
The second-floor apartment has two bedrooms, two bathrooms, walk-in closets, and a laundry room. Site improvements include a paved parking area and an attached two-stall heated garage with a loading ramp connected to the kitchen. The property encompasses 0.39 acres and 6,171 total square feet at 901 Fremont Street in Kiel, Wisconsin. Public water and sewer serve the property, which is zoned Commercial.
The second-floor apartment has two bedrooms, two bathrooms, walk-in closets, and a laundry room. Site improvements include a paved parking area and an attached two-stall heated garage with a loading ramp connected to the kitchen. The property encompasses 0.39 acres and 6,171 total square feet at 901 Fremont Street in Kiel, Wisconsin. Public water and sewer serve the property, which is zoned Commercial.
Key Highlights
- 6,171 total square feet on a 0.39‑acre property
- First‑floor restaurant with open dining, bar, office, two bathrooms, and commercial kitchen
- Commercial kitchen includes a walk‑in freezer and walk‑in cooler
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
$94,666
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
8.61%
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%
$1,893,320
$1.9M
Cap Rate 7%
$1,352,371
$1.4M
Cap Rate 9%
$1,051,844
$1.1M
Market Conditions
NOI Build-Up for 6,171 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
$129.6K $21.00/SF
− Vacancy
−$3.4K −$0.55/SF
EGI
$126.2K $20.45/SF
− OpEx
−$31.6K −$5.11/SF
NOI
$94.7K $15.34/SF
Area
Manitowoc County, WI
Vacancy
2.60%
Lease Rate
$21.00 /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%
$1,893,320
Cap Rate 7%
$1,352,371
Cap Rate 9%
$1,051,844
Alternative Uses
Best Use
Specialty Retail
$1.35M
$1.18M – $1.58M
NOI $94,666 @ 7.0% cap · market cap 8.61%
Second Best
Mixed Use
$412.1K
$360.6K – $480.8K
NOI $28,849 @ 7.0% cap · market cap 2.62%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
210
Businesses Nearby
Explore this area
Business Placement
Demographics for 53042, WI
6,886
Population
3,034
Households
2.3
Avg Household Size
45
Median Age
19%
College-Educated
91%
High-School Grad
62.0 sq mi
ZIP Area
111
Density / Sq Mi
$86,118
Median Household Income
$52,964
Median Earnings
$824
Median Rent
$223,100
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?
Mixed-use property - Restaurant facilities, a two-bedroom apartment, basement space, and an attached heated garage occupy the property.
Where is this mixed-use property located?
The property is located at 901 FREMONT Street Kiel, WI.
What is the asking price?
The asking price for this property is $1,100,000.
What are key features of this property?
This property features: 6,171 total square feet on a 0.39‑acre property; First‑floor restaurant with open dining, bar, office, two bathrooms, and commercial kitchen; Commercial kitchen includes a walk‑in freezer and walk‑in cooler
