Assisted Living Property with Brick
New
For Sale
$345,000
1321 Sherman Avenue, Janesville, WI 53545
Business/Comm, Janesville, WI
Property Size2,769 SF
Lot Size0.40 Acres
Price / SF$124.59
Days on Market1
Property Features for 1321 Sherman Avenue
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
R2
Lot features
Free standing, Near public transportatn
Directions
Milton Ave, East on Sherman
Subdivision
JANESVILLE - C
Standard status
Active
APN
0230100420
Size
2,769 SF
Lot size
0.40 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
4682
Amenities
3-season porch
Building Details
Year built
1953
Number of units
1
Roof type
Composition
Listing Agency:
Realty Executives Premier · Realty Executives International
(608) 756-3932
Listed By:
Sarah McLean · License #5896790
(608) 635-5445
Added: Sep 24
Last Checked: Sep 24 at 11:06PM
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.
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 = 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
$22,457
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
6.51%
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%
$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
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
$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 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%
$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 6.51%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$665.4K
$582.2K – $776.3K
NOI $46,579 @ 7.0% cap · market cap 13.50%
Zoning and permitted uses should be independently verified with authorities.
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
Explore this area
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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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 $345,000.
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
