Lower-Level Office
For Sale
Contact for pricing
115 S Third St, Delavan, WI 53115
Three-room commercial suite with a full bathroom and adaptable interior layout for professional or small-business use.
Property Size1,480 SF
Price / SF$1.11
Days on Market82
Property Features for 115 S Third St
General Information
Standard status
Active
Size
1,480 SF
Additional Details
Floor
Lower Level
Building Details
Year Built
1870
Listing Agency:
Compass Wisconsin-Lake Geneva
Listed By:
Keefe & Associates Group* · License #5815690
(262) 248-4492
Source:
Jwregwi
Added: Jul 27
Changed: Oct 15
Last Checked: Oct 7 at 4:49PM
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 Compass Wisconsin-Lake Geneva
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Investment Insights
Based on property information with market context.
This lower-level office unit includes three separate rooms and a full bathroom. One room has an open configuration that can be enclosed, allowing the interior arrangement to be adjusted for different business needs. The suite is part of a building constructed in 1870.
The property is located at 115 S Third St in Delavan, Wisconsin, near the city’s Brick Street area. Coffee shops, restaurants, shopping, and everyday services are within walking distance, providing a convenient setting for office, practitioner, or small-business operations.
The property is located at 115 S Third St in Delavan, Wisconsin, near the city’s Brick Street area. Coffee shops, restaurants, shopping, and everyday services are within walking distance, providing a convenient setting for office, practitioner, or small-business operations.
Key Highlights
- Lower‑level office unit at 115 S Third St, Delavan, WI 53115
- Three separate rooms plus a full bathroom
- Open‑layout room can be enclosed for a different configuration
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$12,987
Suggested Prices Based on Cap Rates
Cap Rate 5%
$259,740
$259.7K
Cap Rate 7%
$185,529
$185.5K
Cap Rate 9%
$144,300
$144.3K
Market Conditions
NOI Build-Up for 1,480 SF
Gross rent
$22.2K $15.00/SF
− Vacancy
−$4.9K −$3.30/SF
EGI
$17.3K $11.70/SF
− OpEx
−$4.3K −$2.93/SF
NOI
$13.0K $8.78/SF
Area
Walworth County, WI
Vacancy
22.00%
Lease Rate
$15.00 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$259,740
Cap Rate 7%
$185,529
Cap Rate 9%
$144,300
Alternative Uses
Best Use
Office B
$185.5K
$162.3K – $216.5K
NOI $12,987 @ 7.0% cap · market cap 787.09%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$285.6K
$249.9K – $333.2K
NOI $19,993 @ 7.0% cap · market cap 1,211.70%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
414
Businesses Nearby
Explore this area
Business Placement
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in Midwest region
Frequently Asked Questions
What type of property is this?
Office units - Three-room commercial suite with a full bathroom and adaptable interior layout for professional or small-business use.
Where is this office units located?
The property is located at 115 S Third St Delavan, WI.
What are key features of this property?
This property features: Lower‑level office unit at 115 S Third St, Delavan, WI 53115; Three separate rooms plus a full bathroom; Open‑layout room can be enclosed for a different configuration
