Historic Storefront
For Sale
$200,000
146 S Main Street, Lodi, WI 53555
Business/Comm, Lodi, WI
Property Size1,495 SF
Lot Size0.06 Acres
Price / SF$133.78
Days on Market40
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
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 31
Last Checked: Sep 1 at 4:06AM
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.
Positioned at 146 S Main Street in downtown Lodi, this 1,495-square-foot storefront property dates to 1881 and combines historic character with modern functional improvements. The building includes private restrooms, interior storage, forced-air heating, central air, and a full basement with exterior access. Its flat composition and membrane roof systems support the building’s established commercial configuration.
The property sits near the intersection of Hwy 60 and 113, providing access through downtown and to surrounding areas, including Madison. Municipal utilities serve the site, while on-site and nearby public parking support customer and employee access. Additional property features include an alley, less-than-440-volt service, and zoning identified as Comm.
The property sits near the intersection of Hwy 60 and 113, providing access through downtown and to surrounding areas, including Madison. Municipal utilities serve the site, while on-site and nearby public parking support customer and employee access. Additional property features include an alley, less-than-440-volt service, and zoning identified as Comm.
Key Highlights
- 1,495‑square‑foot storefront property in downtown Lodi
- Built in 1881 with historic architectural character
- 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
$15,282
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
7.64%
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%
$305,640
$305.6K
Cap Rate 7%
$218,314
$218.3K
Cap Rate 9%
$169,800
$169.8K
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
$23.9K $15.96/SF
− Vacancy
−$2.0K −$1.36/SF
EGI
$21.8K $14.60/SF
− OpEx
−$6.5K −$4.38/SF
NOI
$15.3K $10.22/SF
Area
Columbia County, WI
Vacancy
8.50%
Lease Rate
$15.96 /SF/Yr
Expense Ratio
30.00%
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%
$305,640
Cap Rate 7%
$218,314
Cap Rate 9%
$169,800
Alternative Uses
Best Use
Retail
$218.3K
$191.0K – $254.7K
NOI $15,282 @ 7.0% cap · market cap 7.64%
Second Best
—
—
no second resolved use
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
Utilities to site
Location Intelligence
Trade Area within ½ mile
280
Businesses Nearby
23k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 100%
Kwik Trip
Shops & Services
14,859 visits/mo
0.3 miles
Associated Bank
Shops & Services
4,423 visits/mo
0.2 miles
Mobil
Shops & Services
1,989 visits/mo
0.3 miles
Citgo
Shops & Services
1,549 visits/mo
0.2 miles
Bushnell Ford Inc
Shops & Services
596 visits/mo
0.0 miles
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 Retail in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Storefront property - Downtown commercial space with municipal utilities, climate control, and a full basement offering additional 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 in downtown Lodi; Built in 1881 with historic architectural character; Full basement with exterior access and interior storage
