Two-Story Mixed-Use
For Sale
$349,900
1207 Bridge Street Unit 1209, Grafton, WI 53024
Commercial space with an upper one-bedroom apartment and flexible office potential in downtown Grafton.
Property Size1,728 SF
Price / SF$202.49
Days on Market163
Property Features for 1207 Bridge Street Unit 1209
General Information
Standard status
Active
Size
1,728 SF
Property subtype
Multi-Family / Multi-Family
Units
Unit Mix
1 x 1BR
Multifamily Units
1
Additional Details
Average Monthly Rent
$950
Amenities
5 working stations
restroom
small kitchen
waiting area with a coffee table and 2 chairs
storage space
rear patio
natural fireplace
Wood, Brick
Building Details
Year Built
1903
Buildings
1
Stories
2
Tenancy
Multi
Listing Agency:
Rubins Realty, LLC
(262) 240-2200
Listed By:
Jacob G Lishanski · License #55501-90
(262) 240-2200
Source:
Compass
Added: Mar 22
Changed: Aug 31
Last Checked: Aug 31 at 2:35AM
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 Rubins Realty, LLC
Investment Insights
Based on property information with market context.
This two-story mixed-use building contains 1,728 square feet and was built in 1903. The ground-floor commercial area is configured with five working stations, a restroom, small kitchen, waiting area, storage, and a rear patio. Its current salon layout may accommodate other business uses.
The second floor provides a one-bedroom apartment with a natural fireplace and is currently leased month-to-month. The upper unit may also serve as office space. The property is located at 1207 Bridge Street, Unit 1209, in downtown Grafton, with street parking available.
The second floor provides a one-bedroom apartment with a natural fireplace and is currently leased month-to-month. The upper unit may also serve as office space. The property is located at 1207 Bridge Street, Unit 1209, in downtown Grafton, with street parking available.
Key Highlights
- 1,728‑square‑foot mixed‑use building constructed in 1903
- Ground‑floor layout includes 5 working stations, restroom, kitchen, waiting area, storage, and rear patio
- Second‑floor one‑bedroom apartment with a natural fireplace
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
$22,338
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
6.38%
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%
$446,760
$446.8K
Cap Rate 7%
$319,114
$319.1K
Cap Rate 9%
$248,200
$248.2K
Market Conditions
NOI Build-Up for 1,728 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
$32.8K $18.96/SF
− Vacancy
−$852 −$0.49/SF
EGI
$31.9K $18.47/SF
− OpEx
−$9.6K −$5.54/SF
NOI
$22.3K $12.93/SF
Area
Ozaukee County, WI
Vacancy
2.60%
Lease Rate
$18.96 /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%
$446,760
Cap Rate 7%
$319,114
Cap Rate 9%
$248,200
Alternative Uses
Best Use
Retail
$319.1K
$279.2K – $372.3K
NOI $22,338 @ 7.0% cap · market cap 6.38%
Second Best
Apartment 5plus
$245.6K
$214.9K – $286.5K
NOI $17,189 @ 7.0% cap · market cap 4.91%
Theoretical Best
Office A
$407.1K
$356.3K – $475.0K
NOI $28,500 @ 7.0% cap · market cap 8.15%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
1
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
498
Businesses Nearby
43k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 50%
Apparel 33%
Dining 17%
Goodwill
Apparel
14,065 visits/mo
0.5 miles
Citgo
Shops & Services
8,308 visits/mo
0.5 miles
BP
Shops & Services
4,723 visits/mo
0.3 miles
Colectivo Coffee
Dining
4,597 visits/mo
0.2 miles
BMO Harris Bank
Shops & Services
3,984 visits/mo
0.2 miles
Demographics for 53024, WI
18,291
Population
8,598
Households
2.1
Avg Household Size
44
Median Age
46%
College-Educated
99%
High-School Grad
27.5 sq mi
ZIP Area
665
Density / Sq Mi
$91,675
Median Household Income
$53,758
Median Earnings
$1,124
Median Rent
$353,700
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 - Commercial space with an upper one-bedroom apartment and flexible office potential in downtown Grafton.
Where is this mixed-use property located?
The property is located at 1207 Bridge Street Unit 1209 Grafton, WI.
What is the asking price?
The asking price for this property is $349,900.
What are key features of this property?
This property features: 1,728‑square‑foot mixed‑use building constructed in 1903; Ground‑floor layout includes 5 working stations, restroom, kitchen, waiting area, storage, and rear patio; Second‑floor one‑bedroom apartment with a natural fireplace
