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

    N2349 WIBU Road, Poynette, WI 53955

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    For Sale
    $599,000

    Other,Retail,Self storage,Service,Warehouse,Wholesale - Poynette, WI

    Lot size:
    2.76 Acres
    Added:
    May 12, 2026
    Days on Market:
    26
    Last Refresh:
    Jun 6 at 1:06 am

    Property Features for N2349 WIBU Road

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Zoning
    Comm/Res
    Interior features
    Residential unit(s)
    Standard status
    Active
    APN
    11002 179.02
    Lot size
    2.76 Acres

    Taxes and HOA fees

    Tax Year
    2025
    Tax Annual Amount
    1805

    Utilities

    Heating system
    Radiant

    Building Details

    Year built
    1948
    Floors in Building
    2
    Number of units
    1
    Building materials
    Block, Stucco
    Roof type
    Flat, Membrane, Rubber
    Architectural style
    Other

    We can help!

    Listing Contact
    Stuart Meland
    Stuart Meland

    Listing agent Stuart Meland

    Listing office Madcityhomes.Com 629 Hilltop Dr, Madison, WI

    Listing date May 12, 2026

    MLS# 2016278 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

    • "Million Dollar View" of the Baraboo Bluffs.
    • Unique Frank Lloyd Wright inspired design (cruise ship facade).
    • 2.76 acre lot with residential or commercial possibilities.
    • Historic building originally built in 1948.
    • Full basement with large windows, previously finished.
    • Block and Stucco construction.

    Overview

    This Frank Lloyd Wright-inspired structure was built in 1948, with the lower floor originally created for a radio station and the second floor designed as a residence. The building sits on a high hill and is described as having a “million dollar view” of the Baraboo Bluffs. A full basement with large windows was previously finished, and the overall property includes room to reimagine the space for multiple commercial and/or residential uses. Extensive cosmetic renovation is needed to restore the building’s character and bring it back to productive condition.

    The property is located on WIBU Road in Poynette, Wisconsin and is zoned Comm/Res. With its elevated setting, it offers a distinctive presence that may appeal to operators looking for a signature structure or a site-based concept.

    For investors, this is a renovation-forward opportunity with a broad possible use spectrum, particularly for tenants seeking flexible space rather than turnkey finishes. For developers, the option to remove the existing building and create a blank 2.76-acre canvas provides additional pathways for compatible redevelopment under the current Comm/Res zoning.
    Property Profile Location Intelligence

    Current Use by Public Records

    Wnno Radio Station WDLS Radio Station

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Poynette
    County
    Columbia
    State
    Wisconsin
    Longitude
    -89.4021
    Latitude
    43.4056

    Nearby Similar for Sale

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      Fully remodeled, turnkey event property with open-concept gathering space, modern amenities, and multiple outdoor ceremony locations.
      101 Bethel Drive, Poynette, WI 53955
      View Details
    • $700,000

      Mixed-Use Building with Multiple Units

      14,036 sf commercial property with storefronts and upper apartments, plus parking and open land for future growth.
      213 N Main Street, Poynette, WI 53955
      View Details

    FAQs

    What type of property is this?
    Single family property - Historic 1948 building with mixed-use potential, extensive cosmetic renovation needs, and expansive site flexibility.
    Where is this single family property located?
    The property is located at N2349 WIBU Road Poynette, WI.
    What is the asking price?
    The asking price for this property is $599,000.
    What are key features of this property?
    This property features: "Million Dollar View" of the Baraboo Bluffs.; Unique Frank Lloyd Wright inspired design (cruise ship facade).; 2.76 acre lot with residential or commercial possibilities.
    (608) 438-3150
    We can help!
    Listing Contact
    Stuart Meland
    Stuart Meland
    Real Estate License ID: 51242-90
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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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