Live-Work Building with Retail
For Sale
$209,900
Pending
123 Hamilton St W, West Salem, WI 54669
1945-built building features retail/office frontage and updated living quarters with kitchen, two bedrooms, bath, and laundry.
Property Size1,500 SF
Days on Market189
Property Features for 123 Hamilton St W
General Information
Standard status
Pending
Size
1,500 SF
Building Details
Year Built
1945
Listing Agency:
RE/MAX Results
(608) 451-2354
Listed By:
Jessica Sands · License #92735-94
(608) 451-2354
Source:
Exprealty
Added: Jan 28
Changed: Jul 28
Last Checked: Jul 31 at 4:00PM
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 RE/MAX Results
Investment Insights
Based on property information with market context.
This 1945-built commercial building includes dedicated living quarters in addition to space suited for retail or office use. During the seller’s ownership, multiple updates were made, including new windows, electrical improvements, and flooring. The residential portion is equipped with a kitchen, two bedrooms, a bathroom, and a laundry area, creating a flexible live-on-site or rental setup.
The front of the building is positioned for visibility to support retail or office operations. Located at 123 Hamilton St W in West Salem, the property is described as being in the heart of downtown, offering convenient access to the surrounding downtown area.
Overall, the property is set up as a true live-work configuration, with practical improvements throughout and a commercial front plus private living space behind.
The front of the building is positioned for visibility to support retail or office operations. Located at 123 Hamilton St W in West Salem, the property is described as being in the heart of downtown, offering convenient access to the surrounding downtown area.
Overall, the property is set up as a true live-work configuration, with practical improvements throughout and a commercial front plus private living space behind.
Key Highlights
- 1945‑built commercial building with living quarters in the heart of downtown
- Updated during seller ownership: new windows, electrical, and flooring
- Front offers retail/office frontage for customer‑facing use
Financial Insights For Office B
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $27.0k | $18.00 |
| − Vacancy | −$5.9k | −$3.96 |
| EGI | $21.1k | $14.04 |
| − OpEx | −$5.3k | −$3.51 |
| NOI | $15.8k | $10.53 |
1,500 SF · lease $18.00/SF/yr · vacancy 22.00% · expense 25.00%
Alternative Uses
Best Use
Office B
$225.6K
$197.4K – $263.3K
NOI $15,795 @ 7.0% cap · market cap 7.53%
Second Best
Retail
$215.5K
$188.6K – $251.5K
NOI $15,088 @ 7.0% cap · market cap 7.19%
Theoretical Best
Specialty Retail
$328.1K
$287.1K – $382.7K
NOI $22,964 @ 7.0% cap · market cap 10.94%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
275
Businesses Nearby
Explore this area
Business Placement
Demographics for 54669, WI
8,094
Population
3,246
Households
2.5
Avg Household Size
42
Median Age
42%
College-Educated
98%
High-School Grad
51.6 sq mi
ZIP Area
157
Density / Sq Mi
$100,214
Median Household Income
$47,884
Median Earnings
$1,156
Median Rent
$288,600
Median Home Value
Market
Vacancy Rate% for Office in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Live-work space - 1945-built building features retail/office frontage and updated living quarters with kitchen, two bedrooms, bath, and laundry.
Where is this live-work space located?
The property is located at 123 Hamilton St W West Salem, WI.
What is the asking price?
The asking price for this property is $209,900.
What are key features of this property?
This property features: 1945‑built commercial building with living quarters in the heart of downtown; Updated during seller ownership: new windows, electrical, and flooring; Front offers retail/office frontage for customer‑facing use
