Mixed-Use Building with
New
For Sale
$499,900
108-184 W Main St, Stoughton, WI 53589
Upper-level apartment or office space complements a commercial area with basement storage.
Property Size4,246 SF
Price / SF$117.73
Days on Market6
Property Features for 108-184 W Main St
General Information
Standard status
Active
Size
4,246 SF
Amenities
display windows
tall ceilings
full basement
Building Details
Year Built
1890
Buildings
1
Listing Agency:
Preferred Realty Group
(608) 206-1209
Listed By:
Kelly Haase · License #3224794
Source:
Holtrealestateteam
Added: Aug 25
Changed: Aug 30
Last Checked: Aug 30 at 2:07PM
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 Preferred Realty Group
Investment Insights
Based on property information with market context.
This 4,246-square-foot mixed-use property dates to 1890 and combines a street-level commercial area with storefront display windows and tall ceilings. The building also includes an upper-level area suited to apartment or office use, along with a full basement for storage.
The property is located at 108-184 W Main St in downtown Stoughton, Wisconsin, with both pedestrian and drive-by exposure. Updates completed in 2023 include the water heater, water softener, chimney liner, heating and air-conditioning systems, roof, and plumbing.
The property is located at 108-184 W Main St in downtown Stoughton, Wisconsin, with both pedestrian and drive-by exposure. Updates completed in 2023 include the water heater, water softener, chimney liner, heating and air-conditioning systems, roof, and plumbing.
Key Highlights
- 4,246‑square‑foot mixed‑use property built in 1890
- Street‑level storefront with display windows and tall ceilings
- Upper‑level apartment or office area
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
$40,704
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
8.14%
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%
$814,080
$814.1K
Cap Rate 7%
$581,486
$581.5K
Cap Rate 9%
$452,267
$452.3K
Market Conditions
NOI Build-Up for 4,246 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
$63.7K $15.00/SF
− Vacancy
−$5.5K −$1.31/SF
EGI
$58.1K $13.70/SF
− OpEx
−$17.4K −$4.11/SF
NOI
$40.7K $9.59/SF
Area
Dane County, WI
Vacancy
8.70%
Lease Rate
$15.00 /SF/Yr
Expense Ratio
30.00%
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%
$814,080
Cap Rate 7%
$581,486
Cap Rate 9%
$452,267
Alternative Uses
Best Use
Mixed Use
$737.0K
$644.9K – $859.8K
NOI $51,589 @ 7.0% cap · market cap 10.32%
Second Best
Retail
$581.5K
$508.8K – $678.4K
NOI $40,704 @ 7.0% cap · market cap 8.14%
Theoretical Best
Office A
$986.7K
$863.4K – $1.15M
NOI $69,068 @ 7.0% cap · market cap 13.82%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
601
Businesses Nearby
Explore this area
Business Placement
Demographics for 53589, WI
19,888
Population
9,014
Households
2.2
Avg Household Size
45
Median Age
40%
College-Educated
96%
High-School Grad
85.0 sq mi
ZIP Area
234
Density / Sq Mi
$93,509
Median Household Income
$52,809
Median Earnings
$1,150
Median Rent
$318,300
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?
Mixed-use property - Upper-level apartment or office space complements a commercial area with basement storage.
Where is this mixed-use property located?
The property is located at 108-184 W Main St Stoughton, WI.
What is the asking price?
The asking price for this property is $499,900.
What are key features of this property?
This property features: 4,246‑square‑foot mixed‑use property built in 1890; Street‑level storefront with display windows and tall ceilings; Upper‑level apartment or office area
