Building Details

Building Size 4,233 SF

Year Built 1940

Listing Agency: Keller Williams Realty-Milwaukee Southwest a***@kw.com Show Phone

Listed By: Amy Ryback Show Phone

Source: Therealtycompanyllc

Added: Sep 5, 2025 Changed: Aug 11 Last Checked: Aug 11 at 1:50PM

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Investment Insights

Based on property information with market context.

This commercial bar property includes a 4,233-square-foot building on 3.3 acres in Pella, WI. The interior is furnished and includes the furniture, fixtures, and equipment used in the operation. Outdoor improvements include a stage, DJ booth, volleyball area, and horseshoe facilities. The property was built in 1940 and is zoned Commercial.

Located at N4889 County Road D in Marion, WI, the property connects with seasonal recreational traffic from a nearby snowmobile trail and ATV trail, including a stop on the ATV Run. A river extends through the rear of the property. Recent updates include the outside area in 2024, A/C and furnace work for the hall, a 2023 sump pump component update, and a furnace below the bar.

Key Highlights

• 4,233 SF bar property on 3.3 acres
• Furniture, fixtures, and equipment included
• Outdoor volleyball and horseshoe areas

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

8.80%

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 (±1% cap)

NOI $30,798 @ 7.0% cap · market cap 8.80%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$792.9K

$693.8K – $925.0K (±1% cap)

NOI $55,502 @ 7.0% cap · market cap 15.86%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Current Use

Bars & Pubs

Suggested Use

Top Pick Hair Salon Building Supply Nail Salon Pharmacy Grocery & Convenience Store Furniture & Home Goods

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

79

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

8% 2020

7.3% 2021

6.5% 2022

6% 2023

5.7% 2024

6.3% 2025

Questions? Ask Rey

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What type of property is this? Where is this bars & pubs located? What is the asking price? Find similar properties ... What are key features of this property?

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Similar Off Market Nearby

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Frequently Asked Questions

What type of property is this?

Bar & Pub - Commercial bar with furnishings, equipment, and outdoor recreation amenities.

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 $350,000.

What are key features of this property?

This property features: 4,233 SF bar property on 3.3 acres; Furniture, fixtures, and equipment included; Outdoor volleyball and horseshoe areas