Building Details

Year Built 1880

Tenancy Multi

Listing Agency: EXIT Realty HGM

Listed By: Robin St. Clair · License #589469019449 Show Phone

Source: Madisonareahomelistings

Added: Aug 5 Changed: Oct 25 Last Checked: Oct 28 at 8:43AM

Report an Issue

Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of EXIT Realty HGM

Ask AI about this property

Review the available facts, identify missing information and prepare questions for the agent.

What should I ask the agent before proceeding? What information is missing from this listing?

Investment Insights

Based on property information with market context.

This 3,333-square-foot triplex, built in 1880, combines two two-bedroom apartments with an office unit. The apartments include enclosed porches, private entrances, and in-unit laundry. The upper apartment has been updated, while the lower apartment is scheduled to be vacant September 1 for freshening up. A new HVAC system serves all three units, and the building also has a new roof with partial new siding.

The property includes a parking lot with alley access, along with an older garage and shed that provide additional storage or flexible utility space. Each unit pays its own utilities. Located at 102 E Main in Evansville, the property is positioned on Main Street near events hosted regularly by the Chamber.

Key Highlights

• 3,333 SF triplex with 2 apartments and an office unit
• Two‑bedroom apartments with enclosed porches, private access, and in‑unit laundry
• New HVAC in all 3 units

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$27,031

Cap Rate

8.58%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$540,620 $540.6K

Cap Rate 7%

$386,157 $386.2K

Cap Rate 9%

$300,344 $300.3K

Is this asking price fair?

Market Conditions

NOI Build-Up for 3,333 SF

Gross rent

$51.2K $15.36/SF

− Vacancy

−$2.0K −$0.61/SF

EGI

$49.1K $14.75/SF

− OpEx

−$22.1K −$6.64/SF

NOI

$27.0K $8.11/SF

Area

Rock County, WI

Vacancy

4.00%

Lease Rate

$15.36 /SF/Yr

Expense Ratio

45.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$540,620

Cap Rate 7%

$386,157

Cap Rate 9%

$300,344

Alternative Uses

Best Use

Office B

$626.3K

$548.0K – $730.7K (±1% cap)

NOI $43,841 @ 7.0% cap · market cap 13.92%

Second Best

Multifamily LT 5

$439.3K

$384.4K – $512.5K (±1% cap)

NOI $30,748 @ 7.0% cap · market cap 9.76%

Theoretical Best

Office A

$800.9K

$700.8K – $934.4K (±1% cap)

NOI $56,066 @ 7.0% cap · market cap 17.80%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Who owns this building? See the owner, sales and loan history

Open Analytics

Current Use

Berg Real Estate ... Real Estate Agency

Suggested Use

Top Pick (Bike/Boat/Book/etc) Store Bakery Grocery & Convenience Store Law Firm Skin Care Clinic Garden Center

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

1

Office units

Multi-tenant

Tenancy

Yes

Paved road access

Yes

Utilities to site

Location Intelligence

Trade Area within ½ mile

354

Businesses Nearby

Explore this area Business Placement

Demographics for 53536, WI

9,051

Population

4,092

Households

2.2

Avg Household Size

40

Median Age

33%

College-Educated

96%

High-School Grad

88.9 sq mi

ZIP Area

102

Density / Sq Mi

$83,944

Median Household Income

$54,046

Median Earnings

$927

Median Rent

$274,600

Median Home Value

Market

Vacancy Rate% for Office in Midwest region

13.7% 2019

15.6% 2020

17.1% 2021

18.9% 2022

21% 2023

22% 2024

21.3% 2025

Frequently Asked Questions

What type of property is this?

Triplex - Two apartments and an office share parking, private access, and individual utility responsibility.

Where is this triplex located?

The property is located at 102 E Main Evansville, WI.

What is the asking price?

The asking price for this property is $314,900.

What are key features of this property?

This property features: 3,333 SF triplex with 2 apartments and an office unit; Two‑bedroom apartments with enclosed porches, private access, and in‑unit laundry; New HVAC in all 3 units