Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    203 Walworth St Elkhorn, WI 53121

    Loading data...
    Loading data...
    Loading data...
    For Sale
    $299,000

    Versatile building, prime location, high potential.

    Property size:
    1,800 SF

    Property Features for 203 Walworth St

    General Information

    Property type
    Other commercial real estate
    Square Feet
    1,800 SF
    Lot Size
    10,890 SF

    Building Details

    Year Built
    1927

    We can help!

    Listing Contact
    Karen Klipp

    Listing Agency: Coldwell Banker Real Estate Group Listing Agent: Karen Klipp

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    This exceptional 1,800 square foot commercial property, situated on a 0.25-acre lot at 203 W Walworth Street in Elkhorn, Wisconsin, presents a unique investment opportunity. The building's flexible T-1 zoning allows for a variety of uses, including commercial, single-family residential, or multi-family residential development, providing significant adaptability for future owners. The existing structure is well-designed and boasts a desirable location within the vibrant Elkhorn community. Currently, the upper level is occupied by a month-to-month tenant, offering immediate income potential or the possibility of owner-occupancy upon lease expiration. The property's versatility, combined with its prime location and existing income stream, makes it an attractive proposition for investors seeking a strong return on investment or entrepreneurs looking to establish their business in a thriving area. The 1,800 square feet of space offers ample room for various business ventures or residential configurations. The 0.25-acre lot provides sufficient outdoor space for potential expansion or additional development. This property is ready for its next chapter, offering a blend of immediate income and long-term growth potential. Serious inquiries are encouraged.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Bartz Chiropractic Alternative Medicine Practice Elkhorn Chamber of Commerce Business Service Center

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Elkhorn
    County
    WALWORTH
    State
    Wisconsin
    Longitude
    -88.54643
    Latitude
    42.67155

    Nearby Similar for Sale

    • $1,567,000
      13,702 SF

      Redevelopment Opportunity in Elkhorn, WI

      13,702 SF commercial property on 3.57 acres for sale.
      720 N Wisconsin St, Elkhorn, WI 53121
      View Details
    • $299,000
      0.31 Acres

      Elkhorn Multi-Family Investment Opportunity

      Well-maintained three-unit property with strong rental potential in Elkhorn, WI.
      10 Prescott St, Elkhorn, WI 53121
      View Details
    • $725,000
      10,370 SF

      Elkhorn Commercial Building - High ROI

      Six rentals, prime downtown location, high income potential.
      39 Wisconsin St, Elkhorn, WI 53121
      View Details
    • $400,000
      8.02 Acres

      Elkhorn Commercial Land - 8 Acres

      Prime 8-acre commercial lot, M-1 zoning.
      Lt3 County Road A, Elkhorn, WI 53121
      View Details
    • $1,999,000
      13,702 SF

      Elkhorn Restaurant & Banquet Hall

      Established Business, High Traffic Location
      720 Wisconsin St, Elkhorn, WI 53121
      View Details
    • Contact for pricing
      0.92 Acres

      Elkhorn Industrial Park Warehouses

      Wisconsin warehouse lots for sale. Prime industrial land.
      0 Elkhorn Ave, Elkhorn, WI 53121
      View Details

    FAQs

    What type of property is this?
    Commercial real estate - Versatile building, prime location, high potential.
    Where is this commercial real estate located?
    The property is located at 203 Walworth St Elkhorn, WI.
    What is the asking price?
    The asking price for this property is $299,000.
    (262) 348-1100
    Request Owner's contact information
    203 Walworth St Elkhorn, WI 53121
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    203 Walworth St
    Elkhorn, WI 53121
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    203 Walworth St Elkhorn, WI 53121
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    Karen Klipp
    (262) 348-1100
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!