Live-Work Building with Attached Living
For Sale
$449,900
1618 W Washington St, West Bend, WI 53095
COMMERCIAL - West Bend, WI
Property Size1,844 SF
Lot Size0.32 Acres
Price / SF$243.98
Days on Market133
Property Features for 1618 W Washington St
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
Commercial
Standard status
Active
APN
11191130031
Size
1,844 SF
Lot size
0.32 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
4549
Building Details
Year built
1961
Architectural style
Other
Listing Agency:
Boss Realty, LLC
(262) 689-0022
Listed By:
Brian Feucht · License #70940-94
(262) 305-4826
Added: Apr 1
Changed: Aug 4
Last Checked: Aug 11 at 9:06PM
MLS# 1955958
Copyright © 2026 Metro MLS. 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 live-work commercial property combines business space with attached livable quarters, offering flexible use for an owner-occupant or tenant. The building includes a commercial area with attached living quarters, creating a practical setup for businesses that benefit from having residential space on site.
Set on a 0.32-acre lot, the property is 1,844 square feet and was built in 1961. Located at 1618 W Washington St in West Bend, it sits on a high-visibility road and provides convenient access, with a short distance to the freeway.
Zoned Commercial, the site is suited to a range of mixed-use live-work configurations where storefront or office-style space can pair with attached living quarters.
Set on a 0.32-acre lot, the property is 1,844 square feet and was built in 1961. Located at 1618 W Washington St in West Bend, it sits on a high-visibility road and provides convenient access, with a short distance to the freeway.
Zoned Commercial, the site is suited to a range of mixed-use live-work configurations where storefront or office-style space can pair with attached living quarters.
Key Highlights
- Live‑work building with a commercial area and attached living quarters
- 0.32‑acre lot
- 1,844 square feet
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
$26,219
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
5.83%
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%
$524,380
$524.4K
Cap Rate 7%
$374,557
$374.6K
Cap Rate 9%
$291,322
$291.3K
Market Conditions
NOI Build-Up for 1,844 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
$45.8K $24.84/SF
− Vacancy
−$10.8K −$5.88/SF
EGI
$35.0K $18.96/SF
− OpEx
−$8.7K −$4.74/SF
NOI
$26.2K $14.22/SF
Area
Washington County, WI
Vacancy
23.68%
Lease Rate
$24.84 /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%
$524,380
Cap Rate 7%
$374,557
Cap Rate 9%
$291,322
Alternative Uses
Best Use
Office B
$374.6K
$327.7K – $437.0K
NOI $26,219 @ 7.0% cap · market cap 5.83%
Second Best
Mixed Use
$293.8K
$257.1K – $342.8K
NOI $20,568 @ 7.0% cap · market cap 4.57%
Theoretical Best
Office A
$506.9K
$443.6K – $591.4K
NOI $35,486 @ 7.0% cap · market cap 7.89%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
107
Businesses Nearby
Explore this area
Business Placement
Demographics for 53095, WI
27,269
Population
12,741
Households
2.1
Avg Household Size
45
Median Age
32%
College-Educated
96%
High-School Grad
70.4 sq mi
ZIP Area
387
Density / Sq Mi
$82,219
Median Household Income
$49,779
Median Earnings
$1,015
Median Rent
$286,500
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?
Live-work space - Live-work building with attached living quarters on a high-visibility road in a commercially zoned West Bend property.
Where is this live-work space located?
The property is located at 1618 W Washington St West Bend, WI.
What is the asking price?
The asking price for this property is $449,900.
What are key features of this property?
This property features: Live‑work building with a commercial area and attached living quarters; 0.32‑acre lot; 1,844 square feet
