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    Turnkey Restored Mixed-Use Building Title is generated by Realmo AI

    234 High Street, Mineral Point, WI 53565

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    Claim this Listing
    For Sale
    Under Contract
    $214,900

    Beauty/barber,Day care,Office,Retail,Service - Mineral Point, WI

    Added:
    Apr 30, 2026
    Days on Market:
    38
    Last Refresh:
    Jun 6 at 1:06 am

    Property Features for 234 High Street

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Zoning
    com
    Parking features
    Paved or Surfaced
    Interior features
    Private Restrooms, Reception area
    Standard status
    Active Under Contract
    APN
    251-0078

    Taxes and HOA fees

    Tax Year
    2025
    Tax Annual Amount
    3237

    Utilities

    Heating system
    Forced Air
    Cooling system
    Central Air

    Building Details

    Year built
    1900
    Floors in Building
    1
    Number of units
    1
    Building materials
    Stone
    Roof type
    Flat, Membrane, Rubber
    Architectural style
    Other

    We can help!

    Listing Contact
    Christina Weitzel

    Listing agent Christina Weitzel

    Listing office RE/MAX Preferred 229 High St, Baraboo, WI

    Listing date Apr 30, 2026

    MLS# 2020866 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

    • Turnkey, fully updated building with recent improvements.
    • Flexible space suitable for continuing the established day spa business or starting a new venture.
    • Finished lower level expands usable space.
    • Includes desirable features such as hardwood floors, track lighting, skylights, and a deck.
    • Central air conditioning and forced air heating for year‑round comfort.
    • Seller is open to including furnishings, business name, and website.

    Overview

    This beautifully restored building is presented as a turnkey opportunity with updates throughout and an immediately usable interior. Improvements include electrical, plumbing, and mechanicals, along with hardwood floors, tuckpointing, a rebuilt front entrance, track lighting, a deck, a cement pad, fresh paint, skylights, and a finished lower level. The result is a space that’s ready for day-to-day operations without requiring additional immediate work.

    The property is located at 234 High Street in Mineral Point, WI. It is currently operating as a successful day spa, with the building configured to support client-facing service use. The refreshed exterior elements and practical site additions such as the deck and cement pad help support an inviting, functional presentation for visitors.

    For buyers and operators, the current day spa setup provides a straightforward path to continue the established business. Alternatively, the property’s flexible layout and recent improvements make it a strong candidate for a new service concept that benefits from a polished, move-in ready buildout. The seller is open to including furnishings, the business name, and website with the sale, subject to agreement.
    Property Profile Location Intelligence

    Current Use by Public Records

    The Haven On High Alternative Medicine Practice massagebymickey Alternative Medicine Practice

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Accounting Firm

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

    Similar Places Nearby

    • Graceful Creations LLC — 123 Clowney St, Mineral Point, WI 53565

    Location Insight

    • Map
    • Local Demand
    City
    Mineral Point
    County
    Iowa
    State
    Wisconsin
    Longitude
    -90.180702
    Latitude
    42.859988

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    FAQs

    What type of property is this?
    Spa & wellness property - Move-in ready, recently restored interior with updated systems and finishes—currently operating as a day spa.
    Where is this spa & wellness property located?
    The property is located at 234 High Street Mineral Point, WI.
    What is the asking price?
    The asking price for this property is $214,900.
    What are key features of this property?
    This property features: Turnkey, fully updated building with recent improvements.; Flexible space suitable for continuing the established day spa business or starting a new venture.; Finished lower level expands usable space.
    (608) 393-3330
    We can help!
    Listing Contact
    Christina Weitzel
    Real Estate License ID: 8555494
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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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