Building Details

Year Built 1997

Listing Agency: Real Broker LLC c***@propertybycandy.com Show Phone

Listed By: Candy Lauby · License #7904694

Source: Viewhomesinwisconsin

Added: Aug 4, 2025 Changed: Aug 29 Last Checked: Aug 29 at 11:26PM

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Investment Insights

Based on property information with market context.

Built in 1997, this self-storage property comprises five buildings with 100 units and an additional 1,100 square feet designated for business or housing rental use. The facility is being offered in its current condition and has a reported occupancy rate of 98%.

The commercial lot includes room identified for future expansion, with the possibility of adding four more storage buildings. The property is located at 103 N Main in Reeseville, Wisconsin, and combines an operating storage component with separate rental space and additional land area.

Key Highlights

• Five‑building self‑storage facility with 100 units
• 98% of units rented
• Additional 1,100 square feet for business or housing rental use

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

$112,203

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

6.60%

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%

$2,244,060 $2.2M

Cap Rate 7%

$1,602,900 $1.6M

Cap Rate 9%

$1,246,700 $1.2M

Market Conditions

NOI Build-Up for 14,519 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

$174.2K $12.00/SF

− Vacancy

−$13.9K −$0.96/SF

EGI

$160.3K $11.04/SF

− OpEx

−$48.1K −$3.31/SF

NOI

$112.2K $7.73/SF

Area

Dodge County, WI

Vacancy

8.00%

Lease Rate

$12.00 /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%

$2,244,060

Cap Rate 7%

$1,602,900

Cap Rate 9%

$1,246,700

Alternative Uses

Best Use

Self Storage

$1.60M

$1.40M – $1.87M (±1% cap)

NOI $112,203 @ 7.0% cap · market cap 6.60%

Second Best

Warehouse

$1.50M

$1.31M – $1.75M (±1% cap)

NOI $104,739 @ 7.0% cap · market cap 6.16%

Theoretical Best

Office A

$3.15M

$2.76M – $3.68M (±1% cap)

NOI $220,782 @ 7.0% cap · market cap 12.99%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Property Profile

Current Use

Personality Plus Family ... Hair Salon GJM Mini Storage Storage Facility

Suggested Use

Top Pick HVAC Service Auto Repair Shop Plumbing Service Garden Center Grocery & Convenience Store Kitchen & Bath Showroom

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

Location Intelligence

Trade Area within ½ mile

56

Businesses Nearby

Explore this area Business Placement

Demographics for 53579, WI

1,799

Population

719

Households

2.5

Avg Household Size

45

Median Age

19%

College-Educated

89%

High-School Grad

39.9 sq mi

ZIP Area

45

Density / Sq Mi

$75,048

Median Household Income

$47,167

Median Earnings

$919

Median Rent

$228,900

Median Home Value

Market

Vacancy Rate% for Industrial in Midwest region

4.4% 2019

4.9% 2020

3.6% 2021

3.1% 2022

4.6% 2023

5% 2024

4.9% 2025

Questions? Ask Rey

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What type of property is this? Where is this self storage facilities located? What is the asking price? Find similar properties ... What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Self storage facility - Established storage operation with ancillary space available for business or housing rental use.

Where is this self storage facility located?

The property is located at 103 N Main Reeseville, WI.

What is the asking price?

The asking price for this property is $1,700,000.

What are key features of this property?

This property features: Five‑building self‑storage facility with 100 units; 98% of units rented; Additional 1,100 square feet for business or housing rental use