Mixed-Use Property with
For Sale
$779,000
Pending
120 E Main, Sun Prairie, WI 53590
Fully occupied building combines ground-floor commercial space with residential apartments and on-site parking.
Property Size5,388 SF
Days on Market19
Property Features for 120 E Main
General Information
Standard status
Pending
Size
5,388 SF
Total Parking Spaces
5
Property subtype
Commercial
Occupancy
100%
Site & Location
Road Access
Yes
Utilities to Site
Yes
Units
Unit Mix
2 x 1BR
Multifamily Units
2
Additional Details
Equipment Included
Yes
Building Details
Year Built
1914
Buildings
1
Tenancy
Multi
Listing Agency:
Stark Company, REALTORS
(608) 770-1754
Listed By:
Matt Kornstedt · License #5435890
Source:
Madisonareahomesforsale
Added: Aug 13
Changed: Aug 31
Last Checked: Aug 31 at 12:35AM
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 Stark Company, REALTORS
Investment Insights
Based on property information with market context.
Built in 1914, this 5,388-square-foot mixed-use building contains two first-floor commercial spaces and two second-floor one-bedroom apartments. The commercial component is occupied by a restaurant and a barbershop, while seller-owned restaurant equipment is included. The property is fully occupied and features separately metered electric and water service for the tenants.
Positioned at 120 E Main in Sun Prairie, the building occupies a visible corner along Main Street in the downtown area. Five on-site parking spaces serve the property. Additional physical improvements include a newer roof, updated electrical systems, and municipal water and sewer service.
Positioned at 120 E Main in Sun Prairie, the building occupies a visible corner along Main Street in the downtown area. Five on-site parking spaces serve the property. Additional physical improvements include a newer roof, updated electrical systems, and municipal water and sewer service.
Key Highlights
- 5,388 SF mixed‑use building with two commercial spaces and two 1‑bedroom apartments
- Fully occupied with restaurant and barbershop uses on the first floor
- Seller‑owned restaurant equipment included in the sale
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
$68,810
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
8.83%
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%
$1,376,200
$1.4M
Cap Rate 7%
$983,000
$983.0K
Cap Rate 9%
$764,556
$764.6K
Market Conditions
NOI Build-Up for 5,388 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
$97.0K $18.00/SF
− Vacancy
−$5.2K −$0.97/SF
EGI
$91.7K $17.03/SF
− OpEx
−$22.9K −$4.26/SF
NOI
$68.8K $12.77/SF
Area
Dane County, WI
Vacancy
5.40%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
25.00%
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%
$1,376,200
Cap Rate 7%
$983,000
Cap Rate 9%
$764,556
Alternative Uses
Best Use
Specialty Retail
$983.0K
$860.1K – $1.15M
NOI $68,810 @ 7.0% cap · market cap 8.83%
Second Best
Mixed Use
$935.2K
$818.3K – $1.09M
NOI $65,464 @ 7.0% cap · market cap 8.40%
Theoretical Best
Office A
$1.25M
$1.10M – $1.46M
NOI $87,644 @ 7.0% cap · market cap 11.25%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
512
Businesses Nearby
30k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Groceries 78%
Shops & Services 18%
Dining 4%
Pick 'n Save
Groceries
23,139 visits/mo
0.4 miles
BP
Shops & Services
5,422 visits/mo
0.4 miles
Milio's Sandwiches
Dining
1,057 visits/mo
0.3 miles
Demographics for 53590, WI
43,684
Population
18,292
Households
2.4
Avg Household Size
37
Median Age
52%
College-Educated
97%
High-School Grad
65.9 sq mi
ZIP Area
663
Density / Sq Mi
$96,497
Median Household Income
$57,711
Median Earnings
$1,375
Median Rent
$354,700
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 - Fully occupied building combines ground-floor commercial space with residential apartments and on-site parking.
Where is this mixed-use property located?
The property is located at 120 E Main Sun Prairie, WI.
What is the asking price?
The asking price for this property is $779,000.
What are key features of this property?
This property features: 5,388 SF mixed‑use building with two commercial spaces and two 1‑bedroom apartments; Fully occupied with restaurant and barbershop uses on the first floor; Seller‑owned restaurant equipment included in the sale
