227 S 3rd St Palmyra, WI 53156
Estimated payment $2,792/month
About This Home
Built in 1857, this character-filled building presents a rare investment opportunity in the heart of downtown Palmyra. With its rich history and small-town charm, this property offers endless possibilitieswhether you envision keeping the tavern's welcoming atmosphere or transforming it into a fresh, modern destination. Conveniently located between Blue Spring Lake and Spring Lake, on the horse trails for those who travel on four legs and snowmobile trails for those who prefer two skis. It is an ideal gathering spot for locals and visitors alike. The upper level boasts 6 fully rented 1-BR studio apts, providing immediate rental income. Zoned for mixed use and currently holding a liquor license, this property is ready for its next chapter. Seller may entertain a lease but prefers to sell.
Listing Agent
Keller Williams Realty-Lake Country License #97498-94 Listed on: 09/10/2025
Property Details
Property Type
- Other
Est. Annual Taxes
- $7,304
Parking
- 20 Parking Spaces
Home Design
- Brick Exterior Construction
- Composition Roof
- Metal Roof
Interior Spaces
- 5,482 Sq Ft Home
- Storage
Basement
- Basement Fills Entire Space Under The House
- Block Basement Construction
Additional Features
- 0.55 Acre Lot
- Central Air
Community Details
- Office
Listing and Financial Details
- Exclusions: Soda dispensers and guns (leased). Sellers personal property not included will be clearly marked. Food and Liquor Inventory (willing to negotiate separate buyout via Bill Of Sale). Piano and a cooler that was taken out of service from original back bar.
- Assessor Parcel Number 17105162241056
Map
Home Values in the Area
Average Home Value in this Area
Tax History
| Year | Tax Paid | Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. | Land | Improvement |
|---|---|---|---|---|
| 2025 | $8,735 | $486,000 | $50,600 | $435,400 |
| 2024 | $7,304 | $486,000 | $50,600 | $435,400 |
| 2023 | $8,381 | $371,600 | $41,700 | $329,900 |
| 2022 | $7,681 | $371,600 | $41,700 | $329,900 |
| 2021 | $8,301 | $371,600 | $41,700 | $329,900 |
| 2020 | $8,337 | $371,600 | $41,700 | $329,900 |
| 2019 | $8,006 | $371,600 | $41,700 | $329,900 |
| 2018 | $8,379 | $371,600 | $41,700 | $329,900 |
| 2017 | $8,401 | $371,600 | $41,700 | $329,900 |
| 2016 | $8,842 | $392,800 | $41,700 | $351,100 |
| 2015 | $8,186 | $393,600 | $45,000 | $348,600 |
| 2014 | $8,017 | $393,600 | $45,000 | $348,600 |
| 2013 | $7,883 | $393,600 | $45,000 | $348,600 |
Property History
| Date | Event | Price | List to Sale | Price per Sq Ft |
|---|---|---|---|---|
| 09/10/2025 09/10/25 | For Sale | $425,000 | -- | $78 / Sq Ft |
Source: Metro MLS
MLS Number: 1934663
APN: 171-0516-2241-056
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Ask me questions while you tour the home.