Bar Property with Recreational
For Sale
$344,900
N4889 County Road D, Marion, WI 54950
Y, Marion, WI
Property Size4,233 SF
Lot Size3.30 Acres
Price / SF$81.48
Days on Market362
Property Features for N4889 County Road D
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
Commercial
Directions
From Clintonville; Turn right on Hemlock, Left on N 12th St, Turn left on CTH D, destination on left
Standard status
Active
APN
036061100020
Size
4,233 SF
Lot size
3.30 Acres
Taxes and HOA fees
Tax Year
2024
Tax Annual Amount
2189
Amenities
outdoor volleyball and horseshoes
Building Details
Year built
1940
Architectural style
Other
Listing Agency:
Keller Williams Realty-Milwaukee Southwest
(262) 599-8980
Listed By:
Amy Ryback
(414) 759-5616
Added: Sep 5, 2025
Changed: Aug 19
Last Checked: Sep 1 at 9:06AM
MLS# 1934098
Copyright © 2026 Metro MLS. 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 commercial bar property in Marion, Wisconsin, includes 4,233 square feet on 3.3 acres and dates to 1940. The interior is furnished with furniture, fixtures, and equipment, while the site includes outdoor volleyball and horseshoe areas. A river crosses the rear portion of the property, adding a notable natural feature to the grounds.
The property is positioned along County Road D and benefits from seasonal activity associated with nearby snowmobile and ATV trails, including the ATV Run. Improvements include a 2021 stage and DJ booth, 2024 exterior work, air conditioning and furnace service for the hall, and 2023 sump pump components and furnace work below the bar. Commercial zoning applies.
The property is positioned along County Road D and benefits from seasonal activity associated with nearby snowmobile and ATV trails, including the ATV Run. Improvements include a 2021 stage and DJ booth, 2024 exterior work, air conditioning and furnace service for the hall, and 2023 sump pump components and furnace work below the bar. Commercial zoning applies.
Key Highlights
- 4,233‑square‑foot bar property on 3.3 acres
- Furnished interior includes furniture, fixtures, and equipment
- 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
8.93%
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
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
10
Businesses Nearby
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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Frequently Asked Questions
What type of property is this?
Bar & Pub - Furnished commercial bar with outdoor recreation amenities and access to seasonal snowmobile and ATV trail traffic.
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; Furnished interior includes furniture, fixtures, and equipment; Outdoor volleyball and horseshoe areas
