Brick Mixed-Use Commercial
For Sale
$209,900
1321 West Court Street, Janesville, WI 53548
Brick mixed-use building includes two commercial spaces, a rented apartment, and additional lower-level basement space.
Property Size2,112 SF
Price / SF$99.38
Days on Market246
Property Features for 1321 West Court Street
General Information
Standard status
Active
Size
2,112 SF
Property subtype
Multi Family / Other
Zoning
B-3
Taxes and HOA fees
Annual Taxes
$2,773
Amenities
Full, Partially finished
Natural Gas
Forced air
Stove, Refrigerator
1
Brick
Building Details
Year Built
1961
Units
3
Listing Agency:
Shorewest, REALTORS
Listed By:
Mary Gilbank · License #36586-90
(608) 751-5868
Source:
Compass
Added: Jan 4
Changed: Aug 26
Last Checked: Aug 14 at 7:56AM
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 Shorewest, REALTORS
Investment Insights
Based on property information with market context.
This all-brick commercial building includes two commercial spaces plus one residential apartment, offering a versatile mixed-use layout. The main floor commercial space includes a half bath. The upper level features a one-bedroom, one-bath apartment that is currently rented on a month-to-month basis. A lower level provides additional commercial or basement space for added flexibility.
The property is located on W. Court Street and is described as being on a busy street with strong visibility. Zoned B-3 General Commercial, the building supports a wide range of business uses.
Constructed of solid brick, the property is positioned for long-term durability and can work for an owner-occupant arrangement or an investment setup, depending on how the spaces are utilized.
The property is located on W. Court Street and is described as being on a busy street with strong visibility. Zoned B-3 General Commercial, the building supports a wide range of business uses.
Constructed of solid brick, the property is positioned for long-term durability and can work for an owner-occupant arrangement or an investment setup, depending on how the spaces are utilized.
Key Highlights
- Brick mixed‑use building (built 1961) with two commercial spaces plus one residential apartment and additional lower‑level basement space
- Main level features a commercial space with a half bath
- Upper level includes a 1‑bedroom, 1‑bath apartment currently rented month‑to‑month
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
$14,573
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
6.94%
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%
$291,460
$291.5K
Cap Rate 7%
$208,186
$208.2K
Cap Rate 9%
$161,922
$161.9K
Market Conditions
NOI Build-Up for 2,112 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
$25.3K $12.00/SF
− Vacancy
−$2.0K −$0.96/SF
EGI
$23.3K $11.04/SF
− OpEx
−$8.7K −$4.14/SF
NOI
$14.6K $6.90/SF
Area
Rock County, WI
Vacancy
8.00%
Lease Rate
$12.00 /SF/Yr
Expense Ratio
37.50%
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%
$291,460
Cap Rate 7%
$208,186
Cap Rate 9%
$161,922
Alternative Uses
Best Use
Mixed Use
$208.2K
$182.2K – $242.9K
NOI $14,573 @ 7.0% cap · market cap 6.94%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$507.5K
$444.1K – $592.1K
NOI $35,527 @ 7.0% cap · market cap 16.93%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
631
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
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Brick mixed-use building includes two commercial spaces, a rented apartment, and additional lower-level basement space.
Where is this mixed-use property located?
The property is located at 1321 West Court Street Janesville, 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: Brick mixed‑use building (built 1961) with two commercial spaces plus one residential apartment and additional lower‑level basement space; Main level features a commercial space with a half bath; Upper level includes a 1‑bedroom, 1‑bath apartment currently rented month‑to‑month
