Furnished Bar with Recreation
For Sale
$344,900
N4889 County Road D -, Marion, WI 54950
Furnished bar property with outdoor recreation features and seasonal access from nearby snowmobile and ATV trails.
Property Size4,233 SF
Lot Size3.30 Acres
Price / SF$81.48
Days on Market36
Property Features for N4889 County Road D -
General Information
Standard status
Active
Size
4,233 SF
Lot size
3.30 Acres
Additional Details
Business Included
Yes
Land Use
commercial, recreational
Amenities
outdoor volleyball
horseshoes
stage
DJ booth
Building Details
Year Built
1940
Listing Agency:
Keller Williams Realty-Milwaukee Southwest
(414) 759-5616
Listed By:
Amy L Ryback
Source:
Nikolicgroup
Added: Jul 28
Changed: Aug 31
Last Checked: Aug 31 at 7:10PM
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 Keller Williams Realty-Milwaukee Southwest
Investment Insights
Based on property information with market context.
This furnished bar property includes 4,233 square feet on 3.3 acres and is equipped with existing furniture, fixtures, and equipment. The improvements date to 1940 and include a bar and hall, with updates including a 2021 stage and DJ booth, 2024 exterior work, air conditioning and a furnace for the hall, plus 2023 sump pump components and a furnace below the bar.
Outdoor features include volleyball and horseshoes, while a river crosses the property. Seasonal activity is tied to the nearby snowmobile trail in winter and ATV trail access in summer, including a stop on the ATV Run. The acreage also provides room for additional outdoor uses, including the potential for campsites as described in the property information.
Outdoor features include volleyball and horseshoes, while a river crosses the property. Seasonal activity is tied to the nearby snowmobile trail in winter and ATV trail access in summer, including a stop on the ATV Run. The acreage also provides room for additional outdoor uses, including the potential for campsites as described in the property information.
Key Highlights
- 4,233‑square‑foot bar property on 3.3 acres
- Furniture, fixtures, and equipment included
- River crosses the property
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
$30,798
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
8.93%
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%
$615,960
$616.0K
Cap Rate 7%
$439,971
$440.0K
Cap Rate 9%
$342,200
$342.2K
Market Conditions
NOI Build-Up for 4,233 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
$42.2K $9.96/SF
− Vacancy
−$1.1K −$0.26/SF
EGI
$41.1K $9.70/SF
− OpEx
−$10.3K −$2.43/SF
NOI
$30.8K $7.28/SF
Area
Waupaca County, WI
Vacancy
2.60%
Lease Rate
$9.96 /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%
$615,960
Cap Rate 7%
$439,971
Cap Rate 9%
$342,200
Alternative Uses
Best Use
Specialty Retail
$440.0K
$385.0K – $513.3K
NOI $30,798 @ 7.0% cap · market cap 8.93%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$792.9K
$693.8K – $925.0K
NOI $55,502 @ 7.0% cap · market cap 16.09%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
5
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 54950, WI
3,086
Population
1,357
Households
2.3
Avg Household Size
44
Median Age
12%
College-Educated
90%
High-School Grad
81.8 sq mi
ZIP Area
38
Density / Sq Mi
$65,815
Median Household Income
$41,875
Median Earnings
$732
Median Rent
$151,900
Median Home Value
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Bar & Pub - Furnished bar property with outdoor recreation features and seasonal access from nearby snowmobile and ATV trails.
Where is this bar & pub located?
The property is located at N4889 County Road D - Marion, WI.
What is the asking price?
The asking price for this property is $344,900.
What are key features of this property?
This property features: 4,233‑square‑foot bar property on 3.3 acres; Furniture, fixtures, and equipment included; River crosses the property
