Bar/Restaurant Opportunity Near
For Sale
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W6315 US-18, Jefferson, WI 53549
Bar/restaurant on major highway between Madison and Milwaukee.
Property Size3,700 SF
Price / SF$106.76
Days on Market1071
Property Features for W6315 US-18
General Information
Standard status
Active
Size
3,700 SF
Property subtype
Special Purpose
Zoning
Business
Building Details
Year Built
1945
Buildings
1
Stories
1
Units
1
Listing Agency:
RE/MAX Community Realty
Listed By:
Barry Luce · License #WI 90-50496
(920) 222-9307
Source:
Crexi
Added: Oct 2, 2023
Changed: Aug 25
Last Checked: Sep 5 at 1:20AM
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 RE/MAX Community Realty
Investment Insights
Based on property information with market context.
This bar and restaurant is located on a major highway between Madison and Milwaukee. The main floor features a bar area with a 13x8 copper bar, dining and kitchen areas, and a large deck. The lower level includes a small party room and storage areas. A new rubber roof was installed 4 years ago. An outdoor shed provides additional storage. The property is suitable for use as a bar or restaurant. The adjacent drive-in movie theater with 19.72 acres is also available for sale and the seller requests that either the theater sell first or in combination with this property. The building size is 3700 square feet.
Key Highlights
- Located on a major highway between Madison & Milwaukee.
- Includes a bar area with a 13x8’ copper bar, dining & kitchen areas.
- Large deck off the back.
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
Location Intelligence
Trade Area within ½ mile
1
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
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Frequently Asked Questions
What type of property is this?
Bar & Pub - Bar/restaurant on major highway between Madison and Milwaukee.
Where is this bar & pub located?
The property is located at W6315 US-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: Located on a major highway between Madison & Milwaukee.; Includes a bar area with a **13x8’ copper bar**, dining & kitchen areas.; Large deck off the back.
