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    995 22Nd St Chetek, WI 54728

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    995 22Nd St Chetek, WI 54728

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    • Theaters & concert halls
    For Sale
    $699,000
    View Listing →
    Turn-Key Drive-In Theater Business For Sale
    $699,000

    Turn-Key Drive-In Theater Business

    20-acre drive-in theater with restaurant and living quarters.

    995 22nd St, Chetek, WI 54728
    View Listing
    Property ID
    US92-2267832
    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.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Stardust Drive in Movie Theater / Cinema / Theater & Performing Art Venue

    Property Details for 995 22Nd St

    Year built
    2008
    Property type
    Theaters & concert halls
    Property subtype
    Campgrounds

    Description

    Discover the Stardust Drive-In Theater —a captivating 20-acre turn-key business nestled in Wisconsin’s vacationland. With a stellar 4.6-star rating from nearly 500 reviews and a whopping 27,000 social media followers, this established venue is a community favorite. Featuring state-of-the-art networking equipment and wi-fi, high-definition digital projection, and excellent FM stereo sound. The property also boasts a fully functioning restaurant with liquor, beer, and wine licenses, a spacious storage building (30’ x 60’). The cozy single-family home has radiant floor heating throughout, including the garage. This location offers direct access to ATV and snowmobile trails, the nearby chain o’ lakes, and red cedar river. And don’t forget this properties quirky attraction—the verified World’s Largest Floating Bobber! For more details, contact Trillium Commercial at 715-456-5923 . Own a piece of cinematic history and create memories under the starry Chetek sky!

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Chetek
    County
    Barron
    State
    Wisconsin
    Longitude
    -91.7037991
    Latitude
    45.3499608

    Comparable in this City

    • $875,000
      1,656 SF

      Resort and Campground on Potato Lake

      Turnkey resort, campground, bar, and restaurant on 2.45 acres.
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    • $329,000
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      Chetek Commercial Building - Move-In Ready

      Prime Commercial Space, 1.88 Acres, Vacant
      202 Kleve St, Chetek, WI 54728
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    • Contact for pricing
      0.07 Acres

      Commercial Land in Downtown Chetek

      Affordable commercial land in a bustling resort town.
      106 Knapp St, Chetek, WI 54728
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    • $119,900
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      Chetek Steel Storage Condominiums

      Upscale 1500 SF storage units with lake access potential.
      2788 7 5/8 Ave, Chetek, WI 54728
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    • $749,000
      1,514 SF

      Stardust Drive-In: Chetek, WI

      Turnkey Drive-In Theater & Restaurant
      995 22Nd St, Chetek, WI 54728
      View Details
    • Contact for pricing

      Commercial Land in Downtown Chetek

      Affordable commercial land in a bustling resort town.
      106 Knapp St, Chetek, WI 54728
      View Details

    Similar Nearby for Sale

    • $875,000
      1,656 SF

      Resort and Campground on Potato Lake

      Turnkey resort, campground, bar, and restaurant on 2.45 acres.
      N1211 N Potato Lake Rd, Chetek, WI 54728
      View Details
    • $1,175,000
      71.00 Acres

      Prime Chetek Commercial Property

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      1009 1/4 Ave, Chetek, WI 54728
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    • $119,900
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      Upscale Storage Condominium Units Available

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      2788 7 5/8 Ave, Chetek, WI 54728
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    • $500,000
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      Heated Commercial/Industrial Space in Chetek

      Spacious, heated commercial/industrial property in downtown Chetek with income potential.
      521 Knapp St, Chetek, WI 54728
      View Details
    • $329,000
      1,641 SF

      Chetek Commercial Building - Move-In Ready

      Prime Commercial Space, 1.88 Acres, Vacant
      202 Kleve St, Chetek, WI 54728
      View Details
    • $39,900

      Chetek, WI Land For Sale

      Condominium lots for storage buildings with lake access.
      2788 7 5/8 Ave, Chetek, WI 54728
      View Details
    View Listing
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    Chetek, WI 54728
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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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