Mixed-Use Storefront with Upper
For Sale
$499,900
108-184 W Main Street, Stoughton, WI 53589
Business/Comm, Stoughton, WI
Property Size4,246 SF
Lot Size0.06 Acres
Price / SF$117.73
Days on Market9
Property Features for 108-184 W Main Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
commercial
Parking features
None
Lot features
Business district, High Traffic Location, High Visibility, Shopping center
Directions
Main Street Stoughton
Subdivision
STOUGHTON - C
Standard status
Active
APN
0511-082-1570-8
Size
4,246 SF
Lot size
0.06 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
7627
Building Details
Year built
1890
Number of units
2
Roof type
Flat
Listing Agency:
Preferred Realty Group
(608) 829-5000
Listed By:
Kelly Haase · License #3224794
(608) 206-1209
Added: Aug 24
Changed: Aug 31
Last Checked: Sep 1 at 6:06AM
MLS# 2030886
Copyright © 2026 REALTORS® Association of South Central Wisconsin. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 4,246-square-foot mixed-use property at 108-184 W Main Street combines a street-level commercial area with display windows and tall ceilings. The building also provides an upper-level apartment or office area and a full basement for storage. Its commercial layout may accommodate a bar use, subject to applicable approvals.
Constructed in 1890 on a 0.061-acre lot, the property has a flat roof and no designated parking. Improvements completed in 2023 included the water heater, water softener, chimney liner, heating and AC systems, roof, and plumbing. The Stoughton location offers both pedestrian and drive-by exposure along W Main Street.
Constructed in 1890 on a 0.061-acre lot, the property has a flat roof and no designated parking. Improvements completed in 2023 included the water heater, water softener, chimney liner, heating and AC systems, roof, and plumbing. The Stoughton location offers both pedestrian and drive-by exposure along W Main Street.
Key Highlights
- 4,246‑square‑foot mixed‑use property on a 0.061‑acre lot
- Street‑level commercial area with display windows and tall ceilings
- Upper apartment or office area plus a full basement for storage
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
$40,704
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
8.14%
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%
$814,080
$814.1K
Cap Rate 7%
$581,486
$581.5K
Cap Rate 9%
$452,267
$452.3K
Market Conditions
NOI Build-Up for 4,246 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
$63.7K $15.00/SF
− Vacancy
−$5.5K −$1.31/SF
EGI
$58.1K $13.70/SF
− OpEx
−$17.4K −$4.11/SF
NOI
$40.7K $9.59/SF
Area
Dane County, WI
Vacancy
8.70%
Lease Rate
$15.00 /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%
$814,080
Cap Rate 7%
$581,486
Cap Rate 9%
$452,267
Alternative Uses
Best Use
Mixed Use
$737.0K
$644.9K – $859.8K
NOI $51,589 @ 7.0% cap · market cap 10.32%
Second Best
Retail
$581.5K
$508.8K – $678.4K
NOI $40,704 @ 7.0% cap · market cap 8.14%
Theoretical Best
Office A
$986.7K
$863.4K – $1.15M
NOI $69,068 @ 7.0% cap · market cap 13.82%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
601
Businesses Nearby
Explore this area
Business Placement
Demographics for 53589, WI
19,888
Population
9,014
Households
2.2
Avg Household Size
45
Median Age
40%
College-Educated
96%
High-School Grad
85.0 sq mi
ZIP Area
234
Density / Sq Mi
$93,509
Median Household Income
$52,809
Median Earnings
$1,150
Median Rent
$318,300
Median Home Value
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Mixed-use property - Street-level commercial space includes display windows, tall ceilings, an upper apartment or office area, and basement storage.
Where is this mixed-use property located?
The property is located at 108-184 W Main Street Stoughton, WI.
What is the asking price?
The asking price for this property is $499,900.
What are key features of this property?
This property features: 4,246‑square‑foot mixed‑use property on a 0.061‑acre lot; Street‑level commercial area with display windows and tall ceilings; Upper apartment or office area plus a full basement for storage
