Established Golf Course and
For Sale
Contact for pricing
W7665 Sylvester Rd, Holmen, WI 54636
Successful 18-hole golf course and supper club for sale.
Property Size10,000 SF
Price / SF$430
Days on Market1818
Property Features for W7665 Sylvester Rd
General Information
Standard status
Active
Size
10,000 SF
Property subtype
Special Purpose
Zoning
Commercial
Building Details
Year Built
1973
Stories
2
Listing Agency:
Coldwell Banker Commercial River Valley Onalaska
(608) 784-9930
Listed By:
Chuck Olson · License #WI
Source:
Crexi
Added: Sep 1, 2021
Changed: Aug 8
Last Checked: Aug 23 at 7:08AM
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 Coldwell Banker Commercial River Valley Onalaska
Investment Insights
Based on property information with market context.
An opportunity exists to acquire an established 18-hole golf course and supper club, which has been in operation for over 50 years. The property includes full kitchens, banquet rooms, and bars. The golf course and supper club are situated in the coulee region of Wisconsin. The property size is 10000 square feet.
Key Highlights
- Established 18‑hole golf course with a 50+ year reputation and customer base.
- Includes a supper club with full kitchens, banquet rooms, and bars.
- Opportunity to own and operate a successful business.
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
$153,090
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
3.56%
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%
$3,061,800
$3.1M
Cap Rate 7%
$2,187,000
$2.2M
Cap Rate 9%
$1,701,000
$1.7M
Market Conditions
NOI Build-Up for 10,000 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
$216.0K $21.60/SF
− Vacancy
−$11.9K −$1.19/SF
EGI
$204.1K $20.41/SF
− OpEx
−$51.0K −$5.10/SF
NOI
$153.1K $15.31/SF
Area
La Crosse County, WI
Vacancy
5.50%
Lease Rate
$21.60 /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%
$3,061,800
Cap Rate 7%
$2,187,000
Cap Rate 9%
$1,701,000
Alternative Uses
Best Use
Specialty Retail
$2.19M
$1.91M – $2.55M
NOI $153,090 @ 7.0% cap · market cap 3.56%
Second Best
—
—
no second resolved use
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
11
Businesses Nearby
Explore this area
Business Placement
Demographics for 54636, WI
16,338
Population
6,517
Households
2.5
Avg Household Size
39
Median Age
35%
College-Educated
97%
High-School Grad
83.0 sq mi
ZIP Area
197
Density / Sq Mi
$91,156
Median Household Income
$47,699
Median Earnings
$1,145
Median Rent
$290,600
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?
Golf course & driving range - Successful 18-hole golf course and supper club for sale.
Where is this golf course & driving range located?
The property is located at W7665 Sylvester Rd Holmen, WI.
What is the asking price?
The asking price for this property is $4,300,000.
What are key features of this property?
This property features: Established 18‑hole golf course with a 50+ year reputation and customer base.; Includes a supper club with full kitchens, banquet rooms, and bars.; Opportunity to own and operate a successful business.
