Mixed-Use Building with
New
For Sale
$395,000
106 Water Street, Lake Mills, WI 53551
Several entrances and accessible access accommodate a range of occupancy configurations.
Property Size2,800 SF
Price / SF$141.07
Days on Market4
Property Features for 106 Water Street
General Information
Standard status
Active
Size
2,800 SF
Property subtype
Commercial
Zoning
B-1 Downto
Additional Details
Property Use
混合用途
Amenities
私人庭院
Building Details
Building Size
2,800 SF
Year Built
1960
Units
2
Tenancy
Multi
Listing Agency:
Re/Max Property Shop
Listed By:
Roxane Schiller
Source:
Conradrealty
Added: Oct 22
Changed: Oct 24
Last Checked: Oct 23 at 3:57PM
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 Re/Max Property Shop
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Investment Insights
Based on property information with market context.
This 2,800-square-foot mixed-use property in downtown Lake Mills was built in 1960. It has multiple entrances, accessible access, and a private courtyard. Mechanical systems have been updated throughout the building, from roof level to basement. The property is zoned B-1 Downto.
Key Highlights
- 2,800‑square‑foot mixed‑use property
- Private courtyard
- Multiple entrances allow for separate occupancy configurations
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$36,288
Cap Rate
9.19%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$725,760
$725.8K
Cap Rate 7%
$518,400
$518.4K
Cap Rate 9%
$403,200
$403.2K
Market Conditions
NOI Build-Up for 2,800 SF
Gross rent
$60.5K $21.60/SF
− Vacancy
−$12.1K −$4.32/SF
EGI
$48.4K $17.28/SF
− OpEx
−$12.1K −$4.32/SF
NOI
$36.3K $12.96/SF
Area
Jefferson County, WI
Vacancy
20.00%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$725,760
Cap Rate 7%
$518,400
Cap Rate 9%
$403,200
Alternative Uses
Best Use
Office B
$518.4K
$453.6K – $604.8K
NOI $36,288 @ 7.0% cap · market cap 9.19%
Second Best
Retail
$386.3K
$338.0K – $450.7K
NOI $27,039 @ 7.0% cap · market cap 6.85%
Theoretical Best
Office A
$657.2K
$575.1K – $766.8K
NOI $46,005 @ 7.0% cap · market cap 11.65%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
301
Businesses Nearby
Explore this area
Business Placement
Demographics for 53551, WI
8,920
Population
4,048
Households
2.2
Avg Household Size
41
Median Age
45%
College-Educated
96%
High-School Grad
39.6 sq mi
ZIP Area
225
Density / Sq Mi
$89,841
Median Household Income
$53,503
Median Earnings
$1,089
Median Rent
$322,700
Median Home Value
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Market
Vacancy Rate% for Office in Midwest region
Frequently Asked Questions
What type of property is this?
Mixed-use property - Several entrances and accessible access accommodate a range of occupancy configurations.
Where is this mixed-use property located?
The property is located at 106 Water Street Lake Mills, WI.
What is the asking price?
The asking price for this property is $395,000.
What are key features of this property?
This property features: 2,800‑square‑foot mixed‑use property; Private courtyard; Multiple entrances allow for separate occupancy configurations
