Restaurant and Laundromat
For Sale
Contact for pricing
Pending
16-18 Front Street, Milton, WI 53563
Turnkey commercial property combining an equipped pizza restaurant and fully operational laundromat.
Property Size3,040 SF
Days on Market105
Property Features for 16-18 Front Street
General Information
Standard status
Pending
Size
3,040 SF
Property subtype
Special Purpose
Additional Details
Business Included
Yes
Building Details
Year Built
2004
Listing Agency:
Century 21 Affiliated Janesville
Listed By:
Beth Hanthorn · License #WI
(608) 346-8189
Source:
Crexi
Added: Jun 2
Changed: Aug 31
Last Checked: Sep 13 at 6:22AM
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 Century 21 Affiliated Janesville
Investment Insights
Based on property information with market context.
The property is a turnkey package that includes both real estate and two operating businesses: a pizza restaurant and a laundromat. The restaurant is set up with a spacious cooking and prep area, commercial ovens, extensive restaurant equipment, a TOAST POS system, office space, and restrooms. The laundromat is well-maintained and includes 26 washers and 12 dryers, along with a brand-new water heater.
The offering is located on Front Street in Milton, Wisconsin, within one of the city’s business districts. The current restaurant operation has been in place under the current owner for 13 years, and the sale includes the equipment and operational components needed to continue running both concepts.
This setup is well-suited for an owner-operator or entrepreneur looking for an established business package with real estate included. For investors, the combination provides a practical way to own and operate both a food service concept and a laundry service operation within a single property. All listed business equipment and core operational systems are included as part of the turnkey offering.
The offering is located on Front Street in Milton, Wisconsin, within one of the city’s business districts. The current restaurant operation has been in place under the current owner for 13 years, and the sale includes the equipment and operational components needed to continue running both concepts.
This setup is well-suited for an owner-operator or entrepreneur looking for an established business package with real estate included. For investors, the combination provides a practical way to own and operate both a food service concept and a laundry service operation within a single property. All listed business equipment and core operational systems are included as part of the turnkey offering.
Key Highlights
- Commercial property built in 2004, offered with two operating businesses: an equipped pizza restaurant and a fully operational laundromat
- Pizza restaurant includes cooking/prep area, commercial ovens, extensive restaurant equipment, TOAST POS system, office, and restroom
- Restaurant business has been built and operated by the current owner for 13 years
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
$47,968
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
6.40%
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%
$959,360
$959.4K
Cap Rate 7%
$685,257
$685.3K
Cap Rate 9%
$532,978
$533.0K
Market Conditions
NOI Build-Up for 3,040 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
$65.7K $21.60/SF
− Vacancy
−$1.7K −$0.56/SF
EGI
$64.0K $21.04/SF
− OpEx
−$16.0K −$5.26/SF
NOI
$48.0K $15.78/SF
Area
Rock County, WI
Vacancy
2.60%
Lease Rate
$21.60 /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%
$959,360
Cap Rate 7%
$685,257
Cap Rate 9%
$532,978
Alternative Uses
Best Use
Specialty Retail
$685.3K
$599.6K – $799.5K
NOI $47,968 @ 7.0% cap · market cap 6.40%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$730.5K
$639.2K – $852.3K
NOI $51,138 @ 7.0% cap · market cap 6.82%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
162
Businesses Nearby
17k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 100%
Kwik Trip
Shops & Services
10,689 visits/mo
0.0 miles
Dollar General
Shops & Services
6,214 visits/mo
0.4 miles
Demographics for 53563, WI
11,503
Population
4,672
Households
2.5
Avg Household Size
42
Median Age
31%
College-Educated
96%
High-School Grad
67.0 sq mi
ZIP Area
172
Density / Sq Mi
$89,397
Median Household Income
$47,742
Median Earnings
$972
Median Rent
$270,800
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Conventional restaurant - Turnkey commercial property combining an equipped pizza restaurant and fully operational laundromat.
Where is this conventional restaurant located?
The property is located at 16-18 Front Street Milton, WI.
What is the asking price?
The asking price for this property is $749,900.
What are key features of this property?
This property features: Commercial property built in 2004, offered with two operating businesses: an equipped pizza restaurant and a fully operational laundromat; Pizza restaurant includes cooking/prep area, commercial ovens, extensive restaurant equipment, TOAST POS system, office, and restroom; Restaurant business has been built and operated by the current owner for 13 years
