Downtown Multi-Use Commercial
154 Leonard Street S West Salem, WI 54669
New
154 Leonard Street S, West Salem, WI, 54669
$259,000
For Sale
$259,000
COMMERCIAL - West Salem, WI
Property Size1,260 SF
Lot Size0.09 Acres
Price / SF$205.56
Days on Market4
Property Features for 154 Leonard Street S
General Information
- Property type
- Commercial Sale
- Property subtype
- Other
- Rooms
- Basement
- Interior features
- Storage
- Standard status
- Active
- APN
- 16-00133-000
- Size
- 1,260 SF
- Lot size
- 0.09 Acres
Taxes and HOA fees
- Tax Year
- 2025
- Tax Annual Amount
- 1749
Utilities
- Sewer type
- Public Sewer
- Heating system
- Forced Air
- Cooling system
- Central Air
- Water source
- Public
Building Details
- Year built
- 1912
- Building materials
- Brick, Stucco, WoodSiding
- Additional Structures
- Storage
Listing Agency
RE/MAX Results~Eau Claire
(715) 831-1488
4260 Southtowne Dr, Eden Prairie, WI
Listed by
Tammy Simmons · License #88377-94
(715) 299-6992
Added: Jul 14 Checked: Jul 17 at 7:06 pm
MLS# 1603285
Copyright © 2026 REALTORS® Association of Northwestern 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 downtown multi-use commercial building is currently used as a Reiki studio, with a one-bedroom apartment located in the back of the structure. A conditional use permit granted by the Village of West Salem is in place and will transfer to the next owner, allowing the entire building to be used for commercial or business purposes or continued use of the living space as well.
The building includes a full basement accessible from inside or out for storage. There is also room to park 4–6 cars behind the building.
Updates and upgrades include a new furnace installed in 2021, new flooring, new lighting in the living room area, new shower and bath fixtures, and new interior and exterior paint. The property is located at 154 Leonard Street S in West Salem, WI.
The building includes a full basement accessible from inside or out for storage. There is also room to park 4–6 cars behind the building.
Updates and upgrades include a new furnace installed in 2021, new flooring, new lighting in the living room area, new shower and bath fixtures, and new interior and exterior paint. The property is located at 154 Leonard Street S in West Salem, WI.
Key Highlights
- Downtown multi‑use commercial building with a 1‑bedroom apartment in the back
- Conditional use permit from the Village of West Salem transfers to the next owner for commercial/business use
- Full basement accessible from inside or out, offering storage space
Local Financial Insights For Office B
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $22.7k | $18.00 |
| − Vacancy | −$5.0k | −$3.96 |
| EGI | $17.7k | $14.04 |
| − OpEx | −$4.4k | −$3.51 |
| NOI | $13.3k | $10.53 |
1,260 SF · lease $18.00/SF/yr · vacancy 22.00% · expense 25.00%
Alternative Uses
Best Use
Office B
$189.5K
$165.9K – $221.1K
NOI $13,268 @ 7.0% cap · market cap 5.12%
Second Best
Mixed Use
$161.5K
$141.3K – $188.4K
NOI $11,302 @ 7.0% cap · market cap 4.36%
Theoretical Best
Specialty Retail
$275.6K
$241.1K – $321.5K
NOI $19,289 @ 7.0% cap · market cap 7.45%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Thompson Marguerite CPA
Accounting Firm
Similar For Sale Nearby
FAQs
What type of property is this?
Live-work space - Downtown multi-use building with Reiki studio space, attached one-bedroom living unit, and parking behind.
Where is this live-work space located?
The property is located at 154 Leonard Street S West Salem, WI.
What is the asking price?
The asking price for this property is $259,000.
What are key features of this property?
This property features: Downtown multi‑use commercial building with a 1‑bedroom apartment in the back; Conditional use permit from the Village of West Salem transfers to the next owner for commercial/business use; Full basement accessible from inside or out, offering storage space
