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    8101 Greenfield Ave West Allis, WI 53214

    Sponsored
    For Sale
    $775,000

    Historic West Allis bar & restaurant, huge potential.

    Property size:
    6,531 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    391
    This exceptional opportunity presents the chance to acquire The State Fair Inn, a historic West Allis establishment located at 8101 W Greenfield Ave, WI 53214. This 6,531 square foot, three-story building sits on a 0.18-acre lot and boasts a prime location directly across Greenfield Avenue from the Wisconsin State Fair Grounds, attracting 1.6 million annual visitors. Originally constructed by the Schlitz Family in 1900 and offered for sale for the first time since 1921, this fee-simple property is zoned C-2. The ground floor currently operates as a turnkey bar and restaurant, complete with all furniture, fixtures, and equipment (inventory negotiable). The upper two floors offer significant value-add potential, suitable for conversion into a bed and breakfast, rooming house, or apartments. With 13 parking spaces and an asking price of $775,000 ($118.66/sq ft), this property presents a unique blend of established business and redevelopment opportunity. The property includes APN numbers 4520265000 & 452026000. This owner/user investment opportunity is classified as a value-add.

    Property Features for 8101 Greenfield Ave

    General Information

    Property type
    Restaurants
    Square Feet
    6,531 SF
    Lot Size
    7,841 SF

    Building Details

    Year Built
    1900
    Buildings
    1
    Stories
    3

    HighLights

    • Ground floor bar and restaurant with existing operations; second and third floors available for renovation.
    • Includes existing equipment and fixtures; inventory available for separate negotiation.
    Property Profile Location Intelligence

    Current Use by Public Records

    Bars

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Building Supply Gym & Fitness

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

    Location Insight

    • Map
    • Local Demand
    City
    West Allis
    County
    Milwaukee
    State
    Wisconsin
    Longitude
    -88.012889167869
    Latitude
    43.016649279416

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    FAQs

    What type of property is this?
    Restaurant - Historic West Allis bar & restaurant, huge potential.
    Where is this restaurant located?
    The property is located at 8101 Greenfield Ave West Allis, WI.
    What is the asking price?
    The asking price for this property is $775,000.
    What are key features of this property?
    This property features: Ground floor bar and restaurant with existing operations; second and third floors available for renovation.; Includes existing equipment and fixtures; inventory available for separate negotiation.;
    Request Owner's contact information
    8101 Greenfield Ave West Allis, WI 53214
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    Realmo Value Estimation

    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.

    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.

    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
    8101 Greenfield Ave West Allis, WI 53214
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