Shopping Center with Storage
For Sale
$2,199,000
1220 Janesville Ave, Fort Atkinson, WI 53538
Commercial property combining retail space, storage units, and a gas station in a single operating asset.
Property Size16,000 SF
Price / SF$137.44
Days on Market199
Property Features for 1220 Janesville Ave
General Information
Standard status
Active
Size
16,000 SF
Property subtype
Commercial
Net Operating Income
$280,284
Additional Details
Cap Rate
12.7%
Building Details
Year Built
1990
Listing Agency:
Bear Realty Of Burlington
(262) 763-8116
Listed By:
Marc Chapdelaine
Source:
Homesinwisconsin
Added: Feb 11
Changed: Aug 29
Last Checked: Aug 25 at 6:49AM
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 Bear Realty Of Burlington
Investment Insights
Based on property information with market context.
This 16,000-square-foot commercial property includes a shopping center, storage units, and a gas station. The combination brings multiple commercial components together within one property at 1220 Janesville Ave in Fort Atkinson, Wisconsin.
The property is offered for sale and reports a 12.7 cap rate. Its configuration includes retail-oriented space alongside storage and fuel-service improvements.
The property is offered for sale and reports a 12.7 cap rate. Its configuration includes retail-oriented space alongside storage and fuel-service improvements.
Key Highlights
- 16,000 SF commercial property
- Shopping center component
- Storage units included
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
$176,982
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
8.05%
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%
$3,539,640
$3.5M
Cap Rate 7%
$2,528,314
$2.5M
Cap Rate 9%
$1,966,467
$2.0M
Market Conditions
NOI Build-Up for 16,000 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
$220.8K $13.80/SF
− Vacancy
−$12.6K −$0.79/SF
EGI
$208.2K $13.01/SF
− OpEx
−$31.2K −$1.95/SF
NOI
$177.0K $11.06/SF
Area
Jefferson County, WI
Vacancy
5.70%
Lease Rate
$13.80 /SF/Yr
Expense Ratio
15.00%
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%
$3,539,640
Cap Rate 7%
$2,528,314
Cap Rate 9%
$1,966,467
Alternative Uses
Best Use
Warehouse
$2.53M
$2.21M – $2.95M
NOI $176,982 @ 7.0% cap · market cap 8.05%
Second Best
Specialty Retail
$2.23M
$1.95M – $2.60M
NOI $155,886 @ 7.0% cap · market cap 7.09%
Theoretical Best
Office A
$3.76M
$3.29M – $4.38M
NOI $262,886 @ 7.0% cap · market cap 11.95%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
156
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 53538, WI
18,643
Population
8,444
Households
2.2
Avg Household Size
43
Median Age
26%
College-Educated
92%
High-School Grad
97.1 sq mi
ZIP Area
192
Density / Sq Mi
$80,784
Median Household Income
$44,995
Median Earnings
$967
Median Rent
$228,200
Median Home Value
Market
Vacancy Rate% for Industrial in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Shopping center - Commercial property combining retail space, storage units, and a gas station in a single operating asset.
Where is this shopping center located?
The property is located at 1220 Janesville Ave Fort Atkinson, WI.
What is the asking price?
The asking price for this property is $2,199,000.
What are key features of this property?
This property features: 16,000 SF commercial property; Shopping center component; Storage units included
