Ripon Retail Investment
For Sale
$299,000
223 Watson St, Ripon, WI 54971
Retail Space Investment Opportunity
Property Size3,000 SF
Lot Size0.10 Acres
Price / SF$99.67
Days on Market664
Property Features for 223 Watson St
General Information
Standard status
Active
Property type
Retail residential properties, Individual retail properties, Other retail properties, Mixed-use properties, Retail properties & Spaces
Size
3,000 SF
Class
C
Elevators
N/A
Lot size
0.10 Acres
Investment Type
Owner User
Building Details
Year Built
1885
Buildings
1
Stories
2
Listed By:
Desiree Brush
(847) 863-5536
Added: Dec 20, 2024
Changed: Mar 16
Investment Insights
Based on property information with market context.
Located in downtown Ripon, Wisconsin, these two adjacent commercial buildings on Watson Street offer an investment opportunity. The buildings, formerly the Knuth Brewing Company, feature hardwood floors, expansive windows, and tin ceilings. The retail space is suitable for a range of businesses, including restaurants, boutiques, or coffee shops. Each building includes a two-bedroom, one-bathroom apartment on the upper level, providing additional income potential. The total building size is 3000 square feet on a 0.1-acre lot. The property is ideal for an owner-user seeking a profitable business venture. The location ensures high foot traffic and visibility, making it attractive for retail businesses. The residential apartments add investment potential.
Key Highlights
- + Extremely high traffic location in downtown Ripon Wisconsin
- + Apartment upstairs with 2 bedrooms 1 bathroom
- + Character building with high ceilings, hardwood floors and potential for any retail business
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$22,770
Cap Rate
7.62%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$455,400
$455.4K
Cap Rate 7%
$325,286
$325.3K
Cap Rate 9%
$253,000
$253.0K
Market Conditions
NOI Build-Up for 3,000 SF
Gross rent
$39.6K $13.20/SF
− Vacancy
−$3.2K −$1.06/SF
EGI
$36.4K $12.14/SF
− OpEx
−$13.7K −$4.55/SF
NOI
$22.8K $7.59/SF
Area
Fond du Lac County, WI
Vacancy
8.00%
Lease Rate
$13.20 /SF/Yr
Expense Ratio
37.50%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$455,400
Cap Rate 7%
$325,286
Cap Rate 9%
$253,000
Alternative Uses
Best Use
Mixed Use
$325.3K
$284.6K – $379.5K
NOI $22,770 @ 7.0% cap · market cap 7.62%
Second Best
Retail
$193.1K
$169.0K – $225.3K
NOI $13,519 @ 7.0% cap · market cap 4.52%
Theoretical Best
Multifamily LT 5
$2.89M
$2.53M – $3.37M
NOI $202,356 @ 7.0% cap · market cap 67.68%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
364
Businesses Nearby
14k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 83%
Dining 17%
Dollar General
Shops & Services
6,478 visits/mo
0.4 miles
U.S. Bank
Shops & Services
4,238 visits/mo
0.3 miles
Domino's Pizza
Dining
2,392 visits/mo
0.3 miles
Napa Auto Parts
Shops & Services
648 visits/mo
0.4 miles
Demographics for 54971, WI
10,938
Population
4,918
Households
2.2
Avg Household Size
42
Median Age
26%
College-Educated
93%
High-School Grad
110.9 sq mi
ZIP Area
99
Density / Sq Mi
$65,914
Median Household Income
$41,534
Median Earnings
$708
Median Rent
$182,800
Median Home Value
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Retail residential property - Retail Space Investment Opportunity
Where is this retail residential property located?
The property is located at 223 Watson St Ripon, WI.
What is the asking price?
The asking price for this property is $299,000.
What are key features of this property?
This property features: + Extremely high traffic location in downtown Ripon Wisconsin; + Apartment upstairs with 2 bedrooms 1 bathroom; + Character building with high ceilings, hardwood floors and potential for any retail business
