Freestanding Restaurant and
For Sale
Contact for pricing
N88W16495 Main St, Menomonee Falls, WI 53051
Freestanding restaurant and bar building with a second-floor residential unit and on-site parking.
Property Size3,180 SF
Lot Size0.25 Acres
Price / SF$290.88
Days on Market172
Property Features for N88W16495 Main St
General Information
Standard status
Active
Size
3,180 SF
Total Parking Spaces
80
Lot size
0.25 Acres
Property subtype
Retail
Zoning
PD - Main Street Sub-District
Lease Type
NNN
Additional Details
Multifamily Units
1
Building Details
Stories
2
Listing Agency:
Colliers - Milwaukee, Wisconsin
Listed By:
John Kardelis · License #WI 94-47887
(414) 273-0880
Source:
Crexi
Added: Mar 20
Changed: Aug 24
Last Checked: Sep 5 at 6:05PM
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 Colliers - Milwaukee, Wisconsin
Investment Insights
Based on property information with market context.
This freestanding former bar/restaurant building is available for sale and includes a restaurant and bar space with a welcoming storefront. The property also has room for outdoor seating and features a residential unit on the second floor, providing flexible options for an owner-operator or additional income. The building sits on a 0.25-acre site.
Located in the heart of downtown Menomonee Falls along Main Street’s historic commercial corridor, the property benefits from visibility and convenient access to nearby municipal parking. On-site parking is also included.
The offering is designed for a hospitality or entertainment user, with an existing mixed-use setup that combines street-level dining with second-floor living space.
Located in the heart of downtown Menomonee Falls along Main Street’s historic commercial corridor, the property benefits from visibility and convenient access to nearby municipal parking. On-site parking is also included.
The offering is designed for a hospitality or entertainment user, with an existing mixed-use setup that combines street-level dining with second-floor living space.
Key Highlights
- Freestanding bar/restaurant building with 3,180 SF on a 0.25‑acre site in downtown Menomonee Falls
- Second‑floor residential unit included, offering on‑site living or additional income potential
- Main Street storefront with outdoor seating space
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
$68,974
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
7.46%
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%
$1,379,480
$1.4M
Cap Rate 7%
$985,343
$985.3K
Cap Rate 9%
$766,378
$766.4K
Market Conditions
NOI Build-Up for 3,180 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
$95.4K $30.00/SF
− Vacancy
−$3.4K −$1.08/SF
EGI
$92.0K $28.92/SF
− OpEx
−$23.0K −$7.23/SF
NOI
$69.0K $21.69/SF
Area
Waukesha County, WI
Vacancy
3.60%
Lease Rate
$30.00 /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%
$1,379,480
Cap Rate 7%
$985,343
Cap Rate 9%
$766,378
Alternative Uses
Best Use
Specialty Retail
$985.3K
$862.2K – $1.15M
NOI $68,974 @ 7.0% cap · market cap 7.46%
Second Best
—
—
no second resolved use
Theoretical Best
Flex RnD
$1.62M
$1.42M – $1.89M
NOI $113,609 @ 7.0% cap · market cap 12.28%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
432
Businesses Nearby
68k
Monthly Visits Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 96%
Dining 2%
Beauty & Spa 2%
Kwik Trip
Shops & Services
55,872 visits/mo
0.3 miles
Associated Bank
Shops & Services
4,098 visits/mo
0.2 miles
AutoZone
Shops & Services
3,415 visits/mo
0.2 miles
Oil Changers
Shops & Services
1,516 visits/mo
0.1 miles
Toppers Pizza
Dining
1,463 visits/mo
0.3 miles
Demographics for 53051, WI
38,562
Population
16,972
Households
2.3
Avg Household Size
44
Median Age
49%
College-Educated
96%
High-School Grad
33.3 sq mi
ZIP Area
1,158
Density / Sq Mi
$98,423
Median Household Income
$60,331
Median Earnings
$1,257
Median Rent
$341,700
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 - Freestanding restaurant and bar building with a second-floor residential unit and on-site parking.
Where is this bar & pub located?
The property is located at N88W16495 Main St Menomonee Falls, WI.
What is the asking price?
The asking price for this property is $925,000.
What are key features of this property?
This property features: Freestanding bar/restaurant building with 3,180 SF on a 0.25‑acre site in downtown Menomonee Falls; Second‑floor residential unit included, offering on‑site living or additional income potential; Main Street storefront with outdoor seating space
