Restaurant Building with Outdoor
For Sale
$395,000
W6315 US Highway 18, Jefferson, WI 53549
Business/Comm, Jefferson, WI
Property Size3,700 SF
Lot Size0.79 Acres
Price / SF$106.76
Days on Market79
Property Features for W6315 US Highway 18
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
Business
Security features
Security System
Interior features
Public rest rooms, Private Restrooms, Signage available, Security system, Inside storage, Outside storage
Lot features
Free standing, Near Major Highway
Directions
From Hwy 26 in Jefferson go W on Hwy 18. Property near intersection of Hwy 18 & 89 S.
Subdivision
JEFFERSON - T
Standard status
Active
APN
014-0614-0921-002
Size
3,700 SF
Lot size
0.79 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
5106
Building Details
Year built
1945
Number of units
1
Roof type
Membrane
Additional Structures
Storage
Listing Agency:
RE/MAX Community Realty · RE/MAX International
(920) 648-7755
Listed By:
Barry Luce · License #9050496
(920) 222-9307
Added: Jun 15
Changed: Aug 31
Last Checked: Sep 1 at 7:06AM
MLS# 1964801
Copyright © 2026 REALTORS® Association of South Central Wisconsin. 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 3,700-square-foot restaurant building occupies 0.79 acres and was built in 1945. The main level contains a bar area with a 13x8-foot copper bar, dining space, kitchen facilities, public and private restrooms, and a large rear deck. A lower level adds a small party room and storage areas, while an outdoor shed provides additional storage. The property also includes available signage and a security system.
Located at W6315 US Highway 18 in Jefferson, Wisconsin, the property sits along a major highway between Madison and Milwaukee. A newer membrane roof is among the building improvements, and the Business zoning supports its commercial setting.
Located at W6315 US Highway 18 in Jefferson, Wisconsin, the property sits along a major highway between Madison and Milwaukee. A newer membrane roof is among the building improvements, and the Business zoning supports its commercial setting.
Key Highlights
- 3,700 SF restaurant building on 0.79 acres
- 13x8‑foot copper bar within the main‑floor bar area
- Main level includes dining, kitchen, public and private restrooms, and a large rear deck
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
$36,049
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
9.13%
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%
$720,980
$721.0K
Cap Rate 7%
$514,986
$515.0K
Cap Rate 9%
$400,544
$400.5K
Market Conditions
NOI Build-Up for 3,700 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
$50.2K $13.56/SF
− Vacancy
−$2.1K −$0.57/SF
EGI
$48.1K $12.99/SF
− OpEx
−$12.0K −$3.25/SF
NOI
$36.0K $9.74/SF
Area
Jefferson County, WI
Vacancy
4.20%
Lease Rate
$13.56 /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%
$720,980
Cap Rate 7%
$514,986
Cap Rate 9%
$400,544
Alternative Uses
Best Use
Specialty Retail
$515.0K
$450.6K – $600.8K
NOI $36,049 @ 7.0% cap · market cap 9.13%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$868.5K
$759.9K – $1.01M
NOI $60,792 @ 7.0% cap · market cap 15.39%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
4
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 53549, WI
10,199
Population
4,544
Households
2.2
Avg Household Size
43
Median Age
23%
College-Educated
92%
High-School Grad
71.1 sq mi
ZIP Area
143
Density / Sq Mi
$78,058
Median Household Income
$47,266
Median Earnings
$1,035
Median Rent
$247,200
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.
Frequently Asked Questions
What type of property is this?
Conventional restaurant - Business-zoned property includes bar, dining, kitchen, storage, and restroom areas.
Where is this conventional restaurant located?
The property is located at W6315 US Highway 18 Jefferson, WI.
What is the asking price?
The asking price for this property is $395,000.
What are key features of this property?
This property features: 3,700 SF restaurant building on 0.79 acres; 13x8‑foot copper bar within the main‑floor bar area; Main level includes dining, kitchen, public and private restrooms, and a large rear deck
