Mixed-Use Building with
New
For Sale
$1,500,000
431 Broad St Unit 433, Lake Geneva, WI 53147
Two-level property combines commercial space with an upper-level apartment or executive office configuration.
Property Size3,800 SF
Price / SF$394.74
Days on Market3
Property Features for 431 Broad St Unit 433
General Information
Standard status
Active
Size
3,800 SF
Building Details
Year Built
1969
Listing Agency:
Compass Wisconsin-Lake Geneva
Listed By:
Shannon Blay · License #40822
(262) 215-8120
Source:
Jwregwi
Added: Sep 22
Changed: Sep 23
Last Checked: Sep 24 at 12:53PM
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 Compass Wisconsin-Lake Geneva
Investment Insights
Based on property information with market context.
This 3,800-square-foot mixed-use property includes 2,400 square feet on the main level and 1,200 square feet upstairs. The commercial floor supports retail, office, or service use and includes a walk-in cooler, kitchen prep area, and 1-car garage. The upper level is configured as a fully furnished 3-bedroom apartment or executive office suites, with interior and exterior access, a full kitchen, bath, and living area. Built in 1969, the property also provides 11 on-site parking spaces.
The building occupies a 101-foot-wide position along Broad Street in Lake Geneva’s Central Business District, with approximately 7,200 vehicles passing daily according to WisDOT. The sale includes the real estate only; business inventory is excluded.
The building occupies a 101-foot-wide position along Broad Street in Lake Geneva’s Central Business District, with approximately 7,200 vehicles passing daily according to WisDOT. The sale includes the real estate only; business inventory is excluded.
Key Highlights
- 3,800 SF mixed‑use property with 2,400 SF main level and 1,200 SF upper level
- 101 ft. of Broad Street frontage in the Central Business District
- Approximately 7,200 vehicles passing daily, according to WisDOT
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
$47,196
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
3.15%
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%
$943,920
$943.9K
Cap Rate 7%
$674,229
$674.2K
Cap Rate 9%
$524,400
$524.4K
Market Conditions
NOI Build-Up for 3,800 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
$82.1K $21.60/SF
− Vacancy
−$6.6K −$1.73/SF
EGI
$75.5K $19.87/SF
− OpEx
−$28.3K −$7.45/SF
NOI
$47.2K $12.42/SF
Area
Walworth County, WI
Vacancy
8.00%
Lease Rate
$21.60 /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%
$943,920
Cap Rate 7%
$674,229
Cap Rate 9%
$524,400
Alternative Uses
Best Use
Mixed Use
$674.2K
$590.0K – $786.6K
NOI $47,196 @ 7.0% cap · market cap 3.15%
Second Best
Retail
$453.1K
$396.5K – $528.6K
NOI $31,716 @ 7.0% cap · market cap 2.11%
Theoretical Best
Specialty Retail
$733.3K
$641.7K – $855.6K
NOI $51,334 @ 7.0% cap · market cap 3.42%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
971
Businesses Nearby
138k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 64%
Shops & Services 36%
Kwik Trip
Shops & Services
27,270 visits/mo
0.3 miles
McDonald's
Dining
23,884 visits/mo
0.4 miles
Culver's
Dining
23,332 visits/mo
0.5 miles
Egg Harbor Cafe
Dining
9,379 visits/mo
0.2 miles
Starbucks
Dining
7,757 visits/mo
0.2 miles
Demographics for 53147, WI
17,859
Population
11,455
Households
1.6
Avg Household Size
47
Median Age
40%
College-Educated
93%
High-School Grad
69.8 sq mi
ZIP Area
256
Density / Sq Mi
$83,018
Median Household Income
$45,399
Median Earnings
$1,277
Median Rent
$337,000
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 - Two-level property combines commercial space with an upper-level apartment or executive office configuration.
Where is this mixed-use property located?
The property is located at 431 Broad St Unit 433 Lake Geneva, WI.
What is the asking price?
The asking price for this property is $1,500,000.
What are key features of this property?
This property features: 3,800 SF mixed‑use property with 2,400 SF main level and 1,200 SF upper level; 101 ft. of Broad Street frontage in the Central Business District; Approximately 7,200 vehicles passing daily, according to WisDOT
