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    Historic Mixed-Use Commercial Building Title is generated by Realmo AI

    146 S Main Street, Lodi, WI 53555

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    For Sale
    $215,000

    Beauty/barber,Office,Other,Retail - Lodi, WI

    Added:
    May 1, 2026
    Days on Market:
    35
    Last Refresh:
    Jun 4 at 5:06 pm

    Property Features for 146 S Main Street

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Zoning
    Comm
    Interior features
    Private Restrooms, Less than 440 volt, Inside storage
    Exterior features
    Alley
    Standard status
    Active
    APN
    11246 231.04

    Taxes and HOA fees

    Tax Year
    2025
    Tax Annual Amount
    3062

    Utilities

    Heating system
    Forced Air
    Cooling system
    Central Air

    Building Details

    Year built
    1881
    Floors in Building
    1
    Number of units
    1
    Building materials
    Brick, Stone
    Roof type
    Composition, Flat, Membrane, Rubber
    Architectural style
    Other

    We can help!

    Listing Contact
    Spencer Schumacher

    Listing agent Spencer Schumacher

    Listing office Spencer Real Estate Group 6733 Frank Lloyd Wright Ave, Middleton, WI

    Listing date May 1, 2026

    MLS# 2020189 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.

    HighLights

    • Prime downtown Lodi location with high visibility and traffic near Hwy 60 & 113.
    • Versatile space suitable for retail, office, or service‑based businesses.
    • Historic building (built in 1881) with architectural charm and modern updates.
    • Unique stained glass window depicting the First Amendment and spelling out Lodi.
    • Full basement with exterior access for valuable storage.
    • Forced air heating, central air, and municipal utilities.

    Overview

    Built in 1881, this historic commercial building combines character-rich architecture with modern updates designed for flexible occupancy. The property is well-suited for retail, office, or service-based businesses, with comfortable climate control provided by forced air heating and central air. A full basement with exterior access offers practical storage advantages. Additional architectural interest includes a stained glass window created for the Lodi Enterprise newspaper owner, depicting the First Amendment theme with letters spelling “Lodi.”

    Set in the heart of downtown Lodi near the intersection of Hwy 60 and 113, the building benefits from visibility and convenient access to surrounding areas, including Madison. The surrounding location is supported by on-site and nearby public parking, helping accommodate customers and employees.

    For buyers and operators seeking a versatile downtown footprint, this property offers a rare combination of historic presence and functional building systems. Its adaptable configuration supports a range of commercial concepts, while the basement access and year-round HVAC help reduce operational friction for day-to-day use. Municipal utilities further support straightforward occupancy and long-term flexibility.
    Property Profile Location Intelligence

    Current Use by Public Records

    Prairie Winds Flower ... (Bike/Boat/Book/etc) Store

    Suggested Use

    Real Estate Agency Law Firm Restaurant Dental Office Spa & Massage Center Hair Salon Nail Salon Gym & Fitness Center Pharmacy Auto Repair Shop

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

    Location Insight

    • Map
    • Local Demand
    City
    Lodi
    County
    Columbia
    State
    Wisconsin
    Longitude
    -89.526166
    Latitude
    43.312874

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      Main Street Commercial Building For Sale

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    FAQs

    What type of property is this?
    Retail space - Built in 1881 with modern updates, this downtown property supports retail, office, or service use with convenient parking.
    Where is this retail space located?
    The property is located at 146 S Main Street Lodi, WI.
    What is the asking price?
    The asking price for this property is $215,000.
    What are key features of this property?
    This property features: Prime downtown Lodi location with **high visibility and traffic near Hwy 60 & 113.**; Versatile space suitable for retail, office, or service‑based businesses.; Historic building (built in 1881) with architectural charm and modern updates.
    (608) 841-2221
    We can help!
    Listing Contact
    Spencer Schumacher
    Real Estate License ID: 5801790
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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.

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