Restaurant and Laundromat
For Sale
$749,900
16-18 Front Street, Milton, WI 53563
Business/Comm, Milton, WI
Property Size3,040 SF
Lot Size0.10 Acres
Price / SF$246.68
Days on Market79
Property Features for 16-18 Front Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
NMU
Interior features
Alley, Shared Restrooms, Display window, Smoke Detectors
Lot features
Business district, High Traffic Location, High Visibility, Residential area
Directions
W Madison Ave to Front St.
Subdivision
MILTON - C
Standard status
Active
APN
257 160004
Size
3,040 SF
Lot size
0.10 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
4246
Building Details
Year built
2004
Number of units
2
Roof type
Metal
Listing Agency:
Century 21 Affiliated · Century 21 Real Estate
(608) 756-4196
Listed By:
Beth Hanthorn · License #5310690
(608) 346-8189
Added: Jun 10
Changed: Aug 26
Last Checked: Aug 27 at 2:06AM
MLS# 2024638
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.
Located at 16-18 Front Street in Milton, Wisconsin, this 3,040-square-foot commercial property includes a pizza restaurant and a laundromat. The restaurant component features a cooking and preparation area, commercial ovens, restaurant equipment, a TOAST POS system, office space, restroom, display window, smoke detectors, and a metal roof. The building was constructed in 2004.
The laundromat includes 26 washers, 12 dryers, and a brand-new water heater. The property also offers alley access and shared restrooms. Situated on a 0.1-acre lot and zoned NMU, the offering combines the real estate with two operating business components.
The laundromat includes 26 washers, 12 dryers, and a brand-new water heater. The property also offers alley access and shared restrooms. Situated on a 0.1-acre lot and zoned NMU, the offering combines the real estate with two operating business components.
Key Highlights
- 3,040‑square‑foot commercial property on a 0.1‑acre lot
- Pizza restaurant includes commercial ovens, cooking and prep areas, equipment, and a TOAST POS system
- Laundromat equipped with 26 washers and 12 dryers
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
Retail
$524.2K
$458.7K – $611.6K
NOI $36,695 @ 7.0% cap · market cap 4.89%
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
Property Profile
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
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 - Commercial property combining an equipped pizza restaurant with an operating laundromat and shared supporting spaces.
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: 3,040‑square‑foot commercial property on a 0.1‑acre lot; Pizza restaurant includes commercial ovens, cooking and prep areas, equipment, and a TOAST POS system; Laundromat equipped with 26 washers and 12 dryers
