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    234 Leonard St West Salem, WI 54669

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    For Sale
    $945,000

    Manufacturing,Retail - West Salem, WI

    Property size:
    3,561 SF
    Lot size:
    0.34 Acres
    Added:
    Feb 26, 2026
    Days on Market:
    48
    Last Refresh:
    Apr 15 at 6:06 pm

    Property Features for 234 Leonard St

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Zoning
    Commercial
    Interior features
    Fixtures, Handicap Equipped, Rest Rooms
    Exterior features
    220 Volt Power
    Accessibility
    Accessible Approach with Ramp
    Standard status
    Active
    APN
    016000030000
    Size
    3,561 SF
    Lot size
    0.34 Acres

    Taxes and HOA fees

    Tax Year
    2025
    Tax Annual Amount
    7689.07

    Utilities

    Heating system
    Forced Air, Natural Gas
    Cooling system
    Central Air

    Building Details

    Year built
    1980
    Floors in Building
    1
    Building materials
    Brick, Steel Siding
    Roof type
    Metal, Rubber
    Architectural style
    Other

    We can help!

    Listing Contact
    Jessica Sands
    Jessica Sands

    Listing agent Jessica Sands License #92735-94

    Listing office RE/MAX Results 757 Sandlake Rd, Onalaska, WI 54650, Onalaska, WI

    Listing date Feb 26, 2026

    MLS# 1951677 Listing URL

    Copyright © 2026 Metro MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Established Winery with Growth Potential

    This established boutique winery in West Salem, WI, presents a unique opportunity to acquire a fully operational business. The winery manufactures and sells its own wines, serves appetizers, and hosts intimate events, fostering a loyal and growing customer base. The business boasts an impressive selection of 53 wines and is well-positioned for continued success, supported by strong brand recognition and repeat clientele. Significant upside potential exists for a new owner to expand into wholesale distribution, enhance the food program, and introduce larger-scale events to further increase revenue and visibility. The property, zoned for commercial use, occupies a 0.34-acre lot and includes a 3,561 square foot building. This is a rare chance to step into a turnkey hospitality and production business with proven performance and exciting growth possibilities. The current owners are retiring, creating an exceptional opportunity for the next visionary proprietor.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Vineyards

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    West Salem
    County
    La Crosse
    State
    Wisconsin
    Longitude
    -91.081673
    Latitude
    43.898787

    FAQs

    What type of property is this?
    Vineyard - Turnkey winery with manufacturing, retail, and event hosting.
    Where is this vineyard located?
    The property is located at 234 Leonard St West Salem, WI.
    What is the asking price?
    The asking price for this property is $945,000.
    What are key features of this property?
    This property features: Fully operational, turnkey winery with proven performance and established brand recognition.; Impressive selection of 53 wines catering to a loyal and growing customer base.; Significant upside potential for expansion into wholesale distribution and enhanced food program.
    (608) 451-2354
    We can help!
    Listing Contact
    Jessica Sands
    Jessica Sands
    Real Estate License ID: 92735-94
    Learn More
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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.

    More about this property
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