Historic Downtown
For Sale
$200,000
146 S Main Street, Lodi, WI 53555
COMMERCIAL - Lodi, WI
Property Size1,495 SF
Lot Size0.06 Acres
Price / SF$133.78
Days on Market18
Property Features for 146 S Main Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
Comm
Interior features
Alley, Private Restrooms, Less than 440 volt, Inside storage
Lot features
Business district
Directions
From Hwy 60 west, south on Main Street to the property at 146 S. Main Street.
Subdivision
LODI - C
Standard status
Active
APN
11246 231.04
Size
1,495 SF
Lot size
0.06 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
3062
Amenities
municipal utilities
forced air heating & central air
full basement with exterior access
stained glass window
Building Details
Year built
1881
Number of units
1
Roof type
Flat, Composition, Membrane
Additional Structures
Storage
Listing Agency:
Spencer Real Estate Group
(608) 841-2221
Listed By:
Spencer Schumacher · License #5801790
(608) 841-2221
Added: Jul 24
Changed: Aug 10
Last Checked: Aug 10 at 5:06PM
MLS# 2020189
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 1,495-square-foot storefront property dates to 1881 and combines historic character with modern updates. The building includes private restrooms, interior storage, forced air heating, and central air. A full basement with exterior access adds usable storage space, while the roof assembly includes flat, composition, and membrane components.
The property occupies a 0.06-acre lot at 146 S Main Street in downtown Lodi, near the intersection of Hwy 60 and 113. Municipal utilities serve the building, and on-site and nearby public parking support customer and employee access. The stained glass window features a First Amendment theme and incorporates the letters spelling Lodi.
The property occupies a 0.06-acre lot at 146 S Main Street in downtown Lodi, near the intersection of Hwy 60 and 113. Municipal utilities serve the building, and on-site and nearby public parking support customer and employee access. The stained glass window features a First Amendment theme and incorporates the letters spelling Lodi.
Key Highlights
- 1,495‑square‑foot storefront property built in 1881
- 0.06‑acre downtown lot at 146 S Main Street, Lodi, WI
- Full basement with exterior access and interior storage
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
$17,751
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
8.88%
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%
$355,020
$355.0K
Cap Rate 7%
$253,586
$253.6K
Cap Rate 9%
$197,233
$197.2K
Market Conditions
NOI Build-Up for 1,495 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
$30.0K $20.04/SF
− Vacancy
−$6.3K −$4.21/SF
EGI
$23.7K $15.83/SF
− OpEx
−$5.9K −$3.96/SF
NOI
$17.8K $11.87/SF
Area
Columbia County, WI
Vacancy
21.00%
Lease Rate
$20.04 /SF/Yr
Expense Ratio
25.00%
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%
$355,020
Cap Rate 7%
$253,586
Cap Rate 9%
$197,233
Alternative Uses
Best Use
Office B
$253.6K
$221.9K – $295.9K
NOI $17,751 @ 7.0% cap · market cap 8.88%
Second Best
Retail
$218.3K
$191.0K – $254.7K
NOI $15,282 @ 7.0% cap · market cap 7.64%
Theoretical Best
Office A
$335.9K
$293.9K – $391.9K
NOI $23,511 @ 7.0% cap · market cap 11.76%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
280
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 53555, WI
8,529
Population
4,523
Households
1.9
Avg Household Size
46
Median Age
39%
College-Educated
99%
High-School Grad
75.7 sq mi
ZIP Area
113
Density / Sq Mi
$110,926
Median Household Income
$57,643
Median Earnings
$1,247
Median Rent
$359,800
Median Home Value
Market
Vacancy Rate% for Office in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Storefront property - Character-rich commercial space with modern updates, municipal utilities, central air, and basement storage.
Where is this storefront property located?
The property is located at 146 S Main Street Lodi, WI.
What is the asking price?
The asking price for this property is $200,000.
What are key features of this property?
This property features: 1,495‑square‑foot storefront property built in 1881; 0.06‑acre downtown lot at 146 S Main Street, Lodi, WI; Full basement with exterior access and interior storage
