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    Property profile & analytics

    201 Steele St Algoma, WI 54201

    • Hotels
    • 8,316 SF
    For Sale
    View listing
    $875,000
    Value Estimations
    Cap Rate Potential
    7.2%
    Hotels
    Location Intelligence
    Property ID
    US92-0054254
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Hotels

    Property Details for 201 Steele St

    Year built
    1905
    Construction
    FRAME
    Property size
    8,316 SF
    Property type
    Hotels
    APN
    201-00330-0820
    APU
    201003300820

    Description

    This exceptional commercial property at 201 Steele Street in Algoma, Wisconsin presents a unique investment opportunity. The property, a thoughtfully renovated historic hotel, restaurant, and bar, boasts a total of 12,844 square feet situated on a 0.21-acre lot. Originally constructed in 1857 with the majority of the current structure dating back to 1905, this building offers a blend of historical charm and modern conveniences. The hotel features beautifully appointed rooms and suites, with a notable four-bedroom, two-bathroom suite on the third floor providing stunning waterfront views. Its prime location, just two blocks from Lake Michigan and Crescent Beach, provides unparalleled access to the waterfront boardwalk, beach, and the vibrant local scene, including a winery, brewery, art studios, and boutique shops. The nearby Door County region, known as the "Cape Cod of the Midwest," further enhances the property's appeal and potential for tourism. The property's bar and restaurant inventory is not included in the asking price of $875,000 but can be purchased separately via a Bill of Sale. All furnishings within the hotel rooms and suites are included in the sale. The seller is offering a 30-day transition assistance period to ensure a smooth transfer of ownership. Detailed financial information is available upon request and with a formal offer. This property is ideal for both short-term and long-term rental operations.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $290,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $350,000
      6.5%
      $320,000
      7%
      $300,000

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Algoma
    County
    Kewaunee
    State
    Wisconsin
    Longitude
    -87.4366
    Latitude
    44.6091
    CBSA code
    24580
    CBSA name
    GREEN BAY, WI METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $5,587
    $41,500
    $206,200
    $247,700
    -
    $0.00
    $0.00
    $307,800

    Comparable in this City

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      $285,000
      6,592 SF

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    • Value Estimation
      $900,000
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      42 Michigan St

      MOTEL • 5,268 SF
      42 Michigan St, Algoma, WI 54201
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    • Value Estimation
      $375,000
      5,288 SF

      1500 Lk St

      MOTEL • 5,288 SF
      1500 Lk St, Algoma, WI 54201-1402
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    • Value Estimation
      $325,000
      8,074 SF

      99 Michigan St

      MOTEL • 8,074 SF
      99 Michigan St, Algoma, WI 54201-1074
      View Details
    • Value Estimation
      $100,000
      5,928 SF

      820 Water St

      MOTEL • 5,928 SF
      820 Water St, Algoma, WI 54201-1104
      View Details
    • Value Estimation
      $420,000
      4,984 SF

      2221 Lk St

      MOTEL • 4,984 SF
      2221 Lk St, Algoma, WI 54201-2005
      View Details

    Similar Nearby for Sale

    • $875,000
      12,844 SF

      Historic Hotel, Restaurant, and Bar

      Updated historic hotel, restaurant, and bar in waterfront town.
      201 Steele St, Algoma, WI 54201
      View Details
    • $189,900
      2,193 SF

      Multi-Family Investment Opportunity in Algoma

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      Two-Family Home with River View

      Two-family home with potential, river view, and fenced yard.
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    • Contact for pricing
      27.13 Acres

      Algoma, WI Development Land

      27 Acres, Prime Commercial Location
      27 Acres Of Development Land, Algoma, WI 54201
      View Details
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    Algoma, WI 54201
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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