925 N 8th St - Rupps Downtown 8,972 SF Specialty Building Offered at $799,000 at a 7.23% Cap Rate in Sheboygan, WI 53081
INVESTMENT HIGHLIGHTS
- Price Reduced
EXECUTIVE SUMMARY
Step into the legacy of Rupp's Restaurant, an icon gracing Sheboygan, WI since 1939. Once a cigar shop and pool hall, now a culinary masterpiece. Crafted as 1 of 3 of the finest Tide Houses by the esteemed Miller Brewing Company, its walls resonate with the echoes of history, adorned with exquisite hammer and chisel woodworking. Behold the heart of this culinary gem: an open galley kitchen, then ascend to the upper mezzanine, a sanctuary overlooking the grand entrance below. With seating for 160 guests, an intimate bar, with its 13 seats, invites patrons to enjoy an Old Fashioned. Nestled amidst the Downtown Sheboygan Area, and within strolling distance of the Stephanie Weill Center. Between the vibrant city of Milwaukee and Green Bay, yet mere blocks from Lake Michigan.
FINANCIAL SUMMARY (ACTUAL - 2022) |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
-
|
-
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$1,194,428
|
$133.13
|
| Taxes |
-
|
-
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$689,761
|
$76.88
|
| Net Operating Income |
$504,667
|
$56.25
|
PROPERTY FACTS
| Price | $799,000 |
| Price Per SF | $89.05 |
| Sale Type | Investment or Owner User |
| Cap Rate | 7.23% |
| Sale Condition | Business Value Included |
| Property Type | Specialty |
| Property Subtype | Lodge/Meeting Hall |
| Building Class | B |
| Lot Size | 0.11 AC |
| Building Size | 8,972 SF |
| No. Stories | 2 |
| Year Built/Renovated | 1876/1980 |
| Opportunity Zone |
Yes |
| Zoning | Com - Commercial |
AMENITIES
- Signage
- Wheelchair Accessible
- Air Conditioning
- Smoke Detector
1 of 1
Walk Score®
Walker's Paradise (92)
Bike Score®
Very Bikeable (84)
PROPERTY TAXES
| Parcel Number | 59281106070 | Improvements Assessment | $417,900 (2024) |
| Land Assessment | $33,600 (2024) | Total Assessment | $451,500 (2024) |
