Renovated Mixed-Use
For Sale
$415,000
173 E Chestnut St Unit 175, Burlington, WI 53105
Separate utility systems support the building’s retail and residential components.
Property Size2,500 SF
Price / SF$166
Days on Market48
Property Features for 173 E Chestnut St Unit 175
General Information
Standard status
Active
Size
2,500 SF
Total Parking Spaces
2
Units
Unit Mix
1 x 2BR/2.5BA
Multifamily Units
1
Additional Details
Utilities to Site
Yes
Building Details
Year Built
1885
Year Renovated
2006
Buildings
1
Listing Agency:
RE/MAX Liberty
Listed By:
Uhl Plassmeyer Group* · License #5230590
(262) 336-9000
Source:
Jwregwi
Added: Sep 12
Changed: Oct 25
Last Checked: Oct 7 at 1:19PM
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 RE/MAX Liberty
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Investment Insights
Based on property information with market context.
Built in 1885, this mixed-use property combines a 1,000-square-foot retail area on the main level with direct access to an additional 1,000-square-foot basement. The upper floor contains a 1,500-square-foot apartment with two bedrooms and 2.5 baths. The building underwent extensive renovation, including exterior wall work, foundation repairs, new framing, HVAC, electrical and plumbing systems, foam insulation, and replacement windows. The apartment received new carpet and repainting in 2018, while its water heater was replaced in 2022. A new roof is noted for 2026, and commercial and residential utilities are separately metered.
Located at 173 E Chestnut St Unit 175 in Burlington’s Downtown Historic District, the property includes two deeded, dedicated parking spaces and sits near downtown shops and dining.
Located at 173 E Chestnut St Unit 175 in Burlington’s Downtown Historic District, the property includes two deeded, dedicated parking spaces and sits near downtown shops and dining.
Key Highlights
- 1,000 SF retail area with access to a 1,000 SF basement
- 1,500 SF apartment with 2 bedrooms and 2.5 baths
- Extensive renovation included foundation, framing, HVAC, electrical, plumbing, insulation, and windows
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$25,875
Cap Rate
6.23%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$517,500
$517.5K
Cap Rate 7%
$369,643
$369.6K
Cap Rate 9%
$287,500
$287.5K
Market Conditions
NOI Build-Up for 2,500 SF
Gross rent
$45.0K $18.00/SF
− Vacancy
−$3.6K −$1.44/SF
EGI
$41.4K $16.56/SF
− OpEx
−$15.5K −$6.21/SF
NOI
$25.9K $10.35/SF
Area
Racine County, WI
Vacancy
8.00%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
37.50%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$517,500
Cap Rate 7%
$369,643
Cap Rate 9%
$287,500
Alternative Uses
Best Use
Mixed Use
$369.6K
$323.4K – $431.3K
NOI $25,875 @ 7.0% cap · market cap 6.23%
Second Best
Retail
$363.4K
$318.0K – $423.9K
NOI $25,436 @ 7.0% cap · market cap 6.13%
Theoretical Best
Office A
$601.2K
$526.1K – $701.4K
NOI $42,084 @ 7.0% cap · market cap 10.14%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
1
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
1,156
Businesses Nearby
54k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 49%
Shops & Services 38%
Home Improvements & Furnishings 11%
Hotels & Casinos 2%
McDonald's
Dining
19,107 visits/mo
0.1 miles
Casey's
Shops & Services
10,563 visits/mo
0.2 miles
Reinemans True Value
Home Improvements & Furnishings
5,794 visits/mo
0.2 miles
Family Dollar
Shops & Services
5,485 visits/mo
0.3 miles
Charcoal Grill
Dining
4,840 visits/mo
0.2 miles
Demographics for 53105, WI
29,654
Population
12,995
Households
2.3
Avg Household Size
44
Median Age
28%
College-Educated
94%
High-School Grad
159.5 sq mi
ZIP Area
186
Density / Sq Mi
$88,798
Median Household Income
$48,254
Median Earnings
$1,029
Median Rent
$295,100
Median Home Value
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Market
Vacancy Rate% for Retail in Midwest region
Frequently Asked Questions
What type of property is this?
Mixed-use property - Separate utility systems support the building’s retail and residential components.
Where is this mixed-use property located?
The property is located at 173 E Chestnut St Unit 175 Burlington, WI.
What is the asking price?
The asking price for this property is $415,000.
What are key features of this property?
This property features: 1,000 SF retail area with access to a 1,000 SF basement; 1,500 SF apartment with 2 bedrooms and 2.5 baths; Extensive renovation included foundation, framing, HVAC, electrical, plumbing, insulation, and windows
