Renewed Historic
New
For Sale
$149,000
229 N Main St, Oconto Falls, WI 54156
Commercial Sale, Oconto Falls, WI
Property Size1,000 SF
Lot Size0.60 Acres
Price / SF$149
Days on Market2
Property Features for 229 N Main St
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
GC (General Commercial)
Elementary school district
Oconto Falls
Middle school district
Oconto Falls
High school district
Oconto Falls
Subdivision
Other Area
Standard status
Active
Size
1,000 SF
Lot size
0.60 Acres
Taxes and HOA fees
Tax Annual Amount
514
Building Details
Year built
1930
Listing Agency:
Harbour Real Estate Group LLC
(920) 743-5330
Listed By:
Nicole Georgia
(920) 493-8801
Added: Sep 2
Last Checked: Sep 3 at 8:06AM
MLS# 147805
Copyright © 2026 Door County MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 1,000-square-foot storefront property dates to 1930 and occupies a 0.6-acre parcel. Structural work and facade improvements have been completed, while the interior remains ready for a custom business buildout. The property is suited to an operator seeking control over the interior layout and finish rather than an already configured space.
Located at 229 N Main St in Oconto Falls, Wisconsin, the building is designated GC (General Commercial). Its storefront format, renewed exterior, and central Main Street address provide a clear commercial setting for a business establishing or expanding its presence in the community.
Located at 229 N Main St in Oconto Falls, Wisconsin, the building is designated GC (General Commercial). Its storefront format, renewed exterior, and central Main Street address provide a clear commercial setting for a business establishing or expanding its presence in the community.
Key Highlights
- 1,000 square feet of storefront space
- 0.6‑acre parcel
- Structural and facade renewal completed
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
$11,054
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
7.42%
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%
$221,080
$221.1K
Cap Rate 7%
$157,914
$157.9K
Cap Rate 9%
$122,822
$122.8K
Market Conditions
NOI Build-Up for 1,000 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
$16.8K $16.80/SF
− Vacancy
−$1.0K −$1.01/SF
EGI
$15.8K $15.79/SF
− OpEx
−$4.7K −$4.74/SF
NOI
$11.1K $11.05/SF
Area
Oconto County, WI
Vacancy
6.00%
Lease Rate
$16.80 /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%
$221,080
Cap Rate 7%
$157,914
Cap Rate 9%
$122,822
Alternative Uses
Best Use
Retail
$157.9K
$138.2K – $184.2K
NOI $11,054 @ 7.0% cap · market cap 7.42%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$233.1K
$204.0K – $272.0K
NOI $16,320 @ 7.0% cap · market cap 10.95%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
275
Businesses Nearby
14k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 100%
BP
Shops & Services
5,133 visits/mo
0.2 miles
Shell
Shops & Services
4,561 visits/mo
0.4 miles
Associated Bank
Shops & Services
1,716 visits/mo
0.1 miles
S&L Ford
Shops & Services
1,600 visits/mo
0.1 miles
Carquest Auto Parts # 14425
Shops & Services
349 visits/mo
0.4 miles
Demographics for 54156, WI
1,544
Population
1,770
Households
0.9
Avg Household Size
54
Median Age
17%
College-Educated
92%
High-School Grad
99.5 sq mi
ZIP Area
16
Density / Sq Mi
$49,722
Median Household Income
$32,961
Median Earnings
$782
Median Rent
$123,600
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?
Storefront property - The building combines a refreshed exterior with an interior ready for a customized commercial finish.
Where is this storefront property located?
The property is located at 229 N Main St Oconto Falls, WI.
What is the asking price?
The asking price for this property is $149,000.
What are key features of this property?
This property features: 1,000 square feet of storefront space; 0.6‑acre parcel; Structural and facade renewal completed
