Retail Suite with Core
For Sale
$245,000
107 S Third St Unit 4, Delavan, WI 53115
Drywall, lighting, electrical, and initial improvements are planned for completion before the remaining interior build-out.
Property Size1,545 SF
Price / SF$158.58
Days on Market20
Property Features for 107 S Third St Unit 4
General Information
Standard status
Active
Size
1,545 SF
Total Parking Spaces
2
Occupancy
100%
Site & Location
Frontage
42 ft
End Cap
Yes
Drive-Thru
No
Anchor Co-Tenants
Whole Foods Market, CVS
Additional Details
Floor
Ground
Business Included
Yes
Liquor License
Yes
Building Details
Construction
brick
Tenancy
Single
Listing Agency:
MELGES Real Estate, LLC
Listed By:
Berisha Cary · License #93986-94
(262) 949-3374
Source:
Jwregwi
Added: Oct 5
Changed: Oct 6
Last Checked: Oct 7 at 4:05PM
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 MELGES Real Estate, LLC
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This retail suite is planned for delivery with drywall, lighting, electrical work, and core improvements in place. The remaining build-out can be tailored to the occupant’s needs. The property information identifies potential applications including professional offices, medical or healthcare practices, wellness services, and boutique retail.
The space is in Downtown Delavan’s Historic District at 107 S Third St, Unit 4, just off Brick Road. Street parking is available in the surrounding area.
The space is in Downtown Delavan’s Historic District at 107 S Third St, Unit 4, just off Brick Road. Street parking is available in the surrounding area.
Key Highlights
- Drywall, lighting, electrical work, and core improvements planned for delivery
- Remaining interior build‑out can be customized
- Located in Downtown Delavan’s Historic District
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$12,895
Cap Rate
5.26%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$257,900
$257.9K
Cap Rate 7%
$184,214
$184.2K
Cap Rate 9%
$143,278
$143.3K
Market Conditions
NOI Build-Up for 1,545 SF
Gross rent
$20.0K $12.96/SF
− Vacancy
−$1.6K −$1.04/SF
EGI
$18.4K $11.92/SF
− OpEx
−$5.5K −$3.58/SF
NOI
$12.9K $8.35/SF
Area
Walworth County, WI
Vacancy
8.00%
Lease Rate
$12.96 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$257,900
Cap Rate 7%
$184,214
Cap Rate 9%
$143,278
Alternative Uses
Best Use
Retail
$184.2K
$161.2K – $214.9K
NOI $12,895 @ 7.0% cap · market cap 5.26%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$298.2K
$260.9K – $347.9K
NOI $20,871 @ 7.0% cap · market cap 8.52%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Lease Details
100%
Occupancy
Single-tenant
Tenancy
Turnkey business
Opportunity
Yes
Liquor license
Location Intelligence
Trade Area within ½ mile
414
Businesses Nearby
9k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 100%
Family Dollar
Shops & Services
3,212 visits/mo
0.1 miles
BP
Shops & Services
3,192 visits/mo
0.0 miles
BMO Harris Bank
Shops & Services
2,048 visits/mo
0.1 miles
Old National Bank
Shops & Services
735 visits/mo
0.1 miles
Demographics for 53115, WI
15,884
Population
8,848
Households
1.8
Avg Household Size
43
Median Age
25%
College-Educated
89%
High-School Grad
71.9 sq mi
ZIP Area
221
Density / Sq Mi
$70,880
Median Household Income
$38,871
Median Earnings
$1,012
Median Rent
$225,900
Median Home Value
Market
Vacancy Rate% for Retail in Midwest region
Frequently Asked Questions
What type of property is this?
Retail space - Drywall, lighting, electrical, and initial improvements are planned for completion before the remaining interior build-out.
Where is this retail space located?
The property is located at 107 S Third St Unit 4 Delavan, WI.
What is the asking price?
The asking price for this property is $245,000.
What are key features of this property?
This property features: Drywall, lighting, electrical work, and core improvements planned for delivery; Remaining interior build‑out can be customized; Located in Downtown Delavan’s Historic District
