Assisted Living Property with Brick
1321 Sherman Avenue, Janesville, WI 53545
For Sale
$325,000
Business/Comm, Janesville, WI
Property Size2,769 SF
Lot Size0.40 Acres
Price / SF$117.37
Days on Market49
Property Features for 1321 Sherman Avenue
General Information
Property type
Property subtype
Zoning
Lot features
Directions
Subdivision
Standard status
APN
Size
Lot size
Taxes and HOA fees
Tax Year
Tax Annual Amount
Amenities
3-season porch
Building Details
Year built
Number of units
Roof type
Listing Agency:
Realty Executives Premier · Realty Executives International
(608) 756-3932
Listed By:
Sarah McLean · License WI #5896790
(608) 635-5445
Added: Sep 24
Changed: Oct 16
Last Checked: Nov 11 at 6:06AM
MLS# 2033398
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.
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Investment Insights
Based on property information with market context.
This brick property in Janesville was previously used as a CBRF facility. The 2,769-square-foot building has six bedrooms, two full bathrooms, and multiple living areas, including two separate rooms on the main level. A kitchen and three-season porch are also on the main floor. The basement adds a finished area, an additional bathroom, and a private office. Heating and cooling are zoned, and the property sits on a 0.4-acre lot.
The site is zoned R2. Any future use or conversion would be subject to applicable zoning requirements and approvals.
The site is zoned R2. Any future use or conversion would be subject to applicable zoning requirements and approvals.
Key Highlights
- 2,769‑square‑foot brick property on a 0.4‑acre lot
- Previously used as a CBRF facility
- Six bedrooms and two full bathrooms, plus an additional basement bathroom
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$22,457
Cap Rate
6.91%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$449,140
$449.1K
Cap Rate 7%
$320,814
$320.8K
Cap Rate 9%
$249,522
$249.5K
Market Conditions
NOI Build-Up for 2,769 SF
Gross rent
$42.5K $15.36/SF
− Vacancy
−$1.7K −$0.61/SF
EGI
$40.8K $14.75/SF
− OpEx
−$18.4K −$6.64/SF
NOI
$22.5K $8.11/SF
Area
Rock County, WI
Vacancy
4.00%
Lease Rate
$15.36 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$449,140
Cap Rate 7%
$320,814
Cap Rate 9%
$249,522
Alternative Uses
Best Use
Apartment 5plus
$320.8K
$280.7K – $374.3K
NOI $22,457 @ 7.0% cap · market cap 6.91%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$665.4K
$582.2K – $776.3K
NOI $46,579 @ 7.0% cap · market cap 14.33%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
408
Businesses Nearby
Under-served
Demand for This Use
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Business Placement
Demographics for 53545, WI
23,318
Population
11,170
Households
2.1
Avg Household Size
41
Median Age
29%
College-Educated
94%
High-School Grad
22.5 sq mi
ZIP Area
1,036
Density / Sq Mi
$70,730
Median Household Income
$42,567
Median Earnings
$1,006
Median Rent
$204,000
Median Home Value
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Similar Off Market Nearby
- First Senior Phase II — 1801 E Milwaukee St, Janesville, WI 53546
- Sherman Home — 1321 Sherman Ave, Janesville, WI 53545
- Sherman Annex — 1329 Sherman Ave, Janesville, WI 53545
- hawthorne home - janesville, wi — 719 Hawthorne Ave, Janesville, WI 53545
Frequently Asked Questions
What type of property is this?
Assisted living facility - A six-bedroom layout includes multiple living areas, a finished basement, and zoned heating and cooling.
Where is this assisted living facility located?
The property is located at 1321 Sherman Avenue Janesville, WI.
What is the asking price?
The asking price for this property is $325,000.
What are key features of this property?
This property features: 2,769‑square‑foot brick property on a 0.4‑acre lot; Previously used as a CBRF facility; Six bedrooms and two full bathrooms, plus an additional basement bathroom
