Mixed-Use Property with
New
For Sale
$499,900
124 W Main St, Stoughton, WI 53589
Storefront space with an upper-level apartment or office area and full basement storage.
Property Size4,246 SF
Price / SF$117.73
Days on Market7
Property Features for 124 W Main St
General Information
Standard status
Active
Size
4,246 SF
Amenities
display windows
tall ceilings
full basement
Building Details
Year Built
1890
Buildings
1
Listing Agency:
Preferred Realty Group
(608) 206-1209
Listed By:
Kelly Haase · License #3224794
Source:
Soldinmadison
Added: Aug 23
Changed: Aug 29
Last Checked: Aug 29 at 11:42AM
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 Preferred Realty Group
Investment Insights
Based on property information with market context.
This 4,246-square-foot mixed-use property combines a street-level storefront with display windows and tall ceilings. The building includes an upper area suited to apartment or office use, along with a full basement providing storage and additional commercial-use space.
Located in downtown Stoughton at 124 W Main St, the property benefits from both pedestrian and drive-by exposure. Built in 1890, it received several updates in 2023, including the water heater, water softener, chimney liner, heating and AC systems, roof, and plumbing.
Located in downtown Stoughton at 124 W Main St, the property benefits from both pedestrian and drive-by exposure. Built in 1890, it received several updates in 2023, including the water heater, water softener, chimney liner, heating and AC systems, roof, and plumbing.
Key Highlights
- 4,246 SF mixed‑use property at 124 W Main St, Stoughton, WI 53589
- Street‑level storefront with display windows and tall ceilings
- Upper area configured for apartment or office use
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
$40,704
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
8.14%
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%
$814,080
$814.1K
Cap Rate 7%
$581,486
$581.5K
Cap Rate 9%
$452,267
$452.3K
Market Conditions
NOI Build-Up for 4,246 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
$63.7K $15.00/SF
− Vacancy
−$5.5K −$1.31/SF
EGI
$58.1K $13.70/SF
− OpEx
−$17.4K −$4.11/SF
NOI
$40.7K $9.59/SF
Area
Dane County, WI
Vacancy
8.70%
Lease Rate
$15.00 /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%
$814,080
Cap Rate 7%
$581,486
Cap Rate 9%
$452,267
Alternative Uses
Best Use
Mixed Use
$737.0K
$644.9K – $859.8K
NOI $51,589 @ 7.0% cap · market cap 10.32%
Second Best
Retail
$581.5K
$508.8K – $678.4K
NOI $40,704 @ 7.0% cap · market cap 8.14%
Theoretical Best
Office A
$986.7K
$863.4K – $1.15M
NOI $69,068 @ 7.0% cap · market cap 13.82%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
601
Businesses Nearby
Explore this area
Business Placement
Demographics for 53589, WI
19,888
Population
9,014
Households
2.2
Avg Household Size
45
Median Age
40%
College-Educated
96%
High-School Grad
85.0 sq mi
ZIP Area
234
Density / Sq Mi
$93,509
Median Household Income
$52,809
Median Earnings
$1,150
Median Rent
$318,300
Median Home Value
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Storefront space with an upper-level apartment or office area and full basement storage.
Where is this mixed-use property located?
The property is located at 124 W Main St Stoughton, WI.
What is the asking price?
The asking price for this property is $499,900.
What are key features of this property?
This property features: 4,246 SF mixed‑use property at 124 W Main St, Stoughton, WI 53589; Street‑level storefront with display windows and tall ceilings; Upper area configured for apartment or office use
