Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    132 W Water Street Shullsburg, WI 53586

    View on Map
    Claim this Listing
    For Sale
    $499,000

    Retail,Grocery - Shullsburg, WI

    Added:
    Mar 16, 2026
    Days on Market:
    36
    Last Refresh:
    Apr 20 at 11:06 am

    Property Features for 132 W Water Street

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Zoning
    commercial
    Security features
    Security System
    Interior features
    3 phase electric, Display window, Security system
    Standard status
    Active
    APN
    281-0257-0000

    Taxes and HOA fees

    Tax Year
    2025
    Tax Annual Amount
    3090

    Utilities

    Utilities
    Electricity Available
    Heating system
    Forced Air
    Cooling system
    Central Air

    Building Details

    Year built
    1920
    Floors in Building
    1
    Number of units
    1
    Building materials
    Brick
    Roof type
    Membrane, Rubber
    Architectural style
    Other

    We can help!

    Listing Contact
    Larry Teasdale

    Listing agent Larry Teasdale

    Listing office Teasdale Realty & Auction Serv, LLC 6660 County Road E, Shullsburg, WI

    Listing date Mar 16, 2026

    MLS# 2017660 Listing URL

    Copyright © 2026 REALTORS® Association of South Central Wisconsin. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Thriving Grocery Store Business Opportunity

    This is an opportunity to own a thriving grocery store business with equipment and inventory in downtown Shullsburg. Half of the store is owned by the Oddfellows and has been rented for years by the grocery store. The other half, built in 1920, is being sold. Showings will begin on March 16, 2026.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Grocery and convenience stores

    Suggested Use

    Real Estate Agency Restaurant Law Firm Spa & Massage Center Hair Salon Nail Salon Building Supply Auto Repair Shop Gym & Fitness Center Big Box & Wholesale Store

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Shullsburg
    County
    Lafayette
    State
    Wisconsin
    Longitude
    -90.232189
    Latitude
    42.572124

    Nearby Similar for Sale

    • $469,900

      Turn-Key Campground Opportunity

      25-site campground near UTV trails in Shullsburg, Wisconsin.
      650 N Judgement Street, Shullsburg, WI 53586
      View Details
    • $289,900

      Shullsburg Retail/Office Corner Lot

      Corner lot in Shullsburg's Water Street Business District.
      613 W Water Street, Shullsburg, WI 53586
      View Details
    • $289,900

      Corner Lot in Business District

      Commercial or residential use property on corner lot.
      613 W Water Street, Shullsburg, WI 53586
      View Details
    • $499,000
      3,460 SF

      Shullsburg Grocery Store Opportunity

      Grocery store business for sale in downtown Shullsburg.
      132 W Water, Shullsburg, WI 53586-9436
      View Details
    • $469,900
      4,000 SF

      Turn-Key Campground Opportunity

      25-site campground in prime recreational area.
      650 N Judgement, Shullsburg, WI 53586
      View Details

    FAQs

    What type of property is this?
    Grocery and convenience store - Grocery store and equipment for sale in downtown Shullsburg.
    Where is this grocery and convenience store located?
    The property is located at 132 W Water Street Shullsburg, WI.
    What is the asking price?
    The asking price for this property is $499,000.
    What are key features of this property?
    This property features: Opportunity to own a thriving grocery store business.; Includes grocery store equipment and inventory.; Located in downtown Shullsburg.
    (608) 965-3558
    We can help!
    Listing Contact
    Larry Teasdale
    Real Estate License ID: 58045-90
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!