Renovated Two-Suite Office
For Sale
$329,000
123 N Jackson Street, Janesville, WI 53548
COMMERCIAL - Janesville, WI
Property Size1,968 SF
Lot Size0.10 Acres
Price / SF$167.17
Days on Market17
Property Features for 123 N Jackson Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
B6
Lot features
Free standing, High Traffic Location, High Visibility, Near Major Highway
Directions
South on Hwy 51 (Center way) to left on N Jackson
Subdivision
JANESVILLE - C
Standard status
Active
APN
2410136100202
Size
1,968 SF
Lot size
0.10 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
1704
Building Details
Year built
1974
Number of units
2
Roof type
Shingle
Listing Agency:
Keller Williams Realty Signature
(815) 315-1111
Listed By:
Brittney Rossato · License #475193315
(815) 975-1127
Added: Jul 27
Changed: Aug 12
Last Checked: Aug 12 at 3:06PM
MLS# 2028434
Copyright © 2026 REALTORS® Association of South Central Wisconsin. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 1968-square-foot office property is arranged as two separate suites, providing distinct professional spaces within one building. One suite has exclusive access to a basement area exceeding 550 square feet, adding room for storage, records, inventory, or workspace. The common hallway connects two exits and two renovated restrooms. Recent improvements include engineered wood flooring, fresh interior paint, double-hung windows, siding, soffit, fascia, and gutters.
Located at 123 N Jackson Street in downtown Janesville, the property is zoned B6 and sits within Rock County. Built in 1974, the building has a shingle roof and supports a flexible office configuration for professional or service-oriented operations.
Located at 123 N Jackson Street in downtown Janesville, the property is zoned B6 and sits within Rock County. Built in 1974, the building has a shingle roof and supports a flexible office configuration for professional or service-oriented operations.
Key Highlights
- Two separate office suites in a 1968‑square‑foot office property
- Private basement access with over 550 square feet of additional space
- Shared hallway with two exits and two renovated restrooms
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
$25,886
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
7.87%
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%
$517,720
$517.7K
Cap Rate 7%
$369,800
$369.8K
Cap Rate 9%
$287,622
$287.6K
Market Conditions
NOI Build-Up for 1,968 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
$43.7K $22.20/SF
− Vacancy
−$9.2K −$4.66/SF
EGI
$34.5K $17.54/SF
− OpEx
−$8.6K −$4.38/SF
NOI
$25.9K $13.15/SF
Area
Rock County, WI
Vacancy
21.00%
Lease Rate
$22.20 /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%
$517,720
Cap Rate 7%
$369,800
Cap Rate 9%
$287,622
Alternative Uses
Best Use
Office B
$369.8K
$323.6K – $431.4K
NOI $25,886 @ 7.0% cap · market cap 7.87%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$472.9K
$413.8K – $551.8K
NOI $33,105 @ 7.0% cap · market cap 10.06%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Office units
Location Intelligence
Trade Area within ½ mile
1,380
Businesses Nearby
Explore this area
Business Placement
Demographics for 53548, WI
19,233
Population
8,894
Households
2.2
Avg Household Size
40
Median Age
27%
College-Educated
94%
High-School Grad
75.0 sq mi
ZIP Area
256
Density / Sq Mi
$74,696
Median Household Income
$41,508
Median Earnings
$999
Median Rent
$226,600
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?
Office units - Flexible professional space includes shared restrooms, two exits, and private basement storage access.
Where is this office units located?
The property is located at 123 N Jackson Street Janesville, WI.
What is the asking price?
The asking price for this property is $329,000.
What are key features of this property?
This property features: Two separate office suites in a 1968‑square‑foot office property; Private basement access with over 550 square feet of additional space; Shared hallway with two exits and two renovated restrooms
