8-Unit Mixed-Use
For Sale
$2,284,900
Pending
202 East Main Street, Twin Lakes, WI 53181
Three-story property combines leased commercial space and residential units under commercial zoning near Lake Geneva.
Property Size20,975 SF
Days on Market171
Property Features for 202 East Main Street
General Information
Standard status
Pending
Size
20,975 SF
Property subtype
Mixed Use
Additional Details
Multifamily Units
4
Building Details
Year Built
1963
Tenancy
Multi
Listing Agency:
Compass
(262) 203-6239
Listed By:
Juan Martinez
(262) 203-6239
Source:
Compass
Added: Mar 13
Changed: Aug 29
Last Checked: Aug 29 at 4:26PM
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 Compass
Investment Insights
Based on property information with market context.
Located at 202 East Main Street in Twin Lakes, Wisconsin, this 20,975-square-foot mixed-use building was constructed in 1963. The first floor contains 4 commercial units, while the second and third floors include 4 residential units. Existing leases are in place across the property, providing an established occupancy profile for the current configuration.
Commercial zoning supports the property’s mixed commercial and residential arrangement. The site is positioned minutes from Lake Geneva and the Wisconsin–Illinois border, with remaining land identified for potential self-storage development. Additional residential units for short-term or long-term rental use have also been identified as possible future additions.
Commercial zoning supports the property’s mixed commercial and residential arrangement. The site is positioned minutes from Lake Geneva and the Wisconsin–Illinois border, with remaining land identified for potential self-storage development. Additional residential units for short-term or long-term rental use have also been identified as possible future additions.
Key Highlights
- 20,975‑square‑foot mixed‑use property in Twin Lakes, Wisconsin
- 4 commercial units occupy the first floor
- 4 residential units are located across the second and third floors
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
$191,696
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
8.39%
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%
$3,833,920
$3.8M
Cap Rate 7%
$2,738,514
$2.7M
Cap Rate 9%
$2,129,956
$2.1M
Market Conditions
NOI Build-Up for 20,975 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
$370.0K $17.64/SF
− Vacancy
−$21.5K −$1.02/SF
EGI
$348.5K $16.62/SF
− OpEx
−$156.8K −$7.48/SF
NOI
$191.7K $9.14/SF
Area
Kenosha County, WI
Vacancy
5.80%
Lease Rate
$17.64 /SF/Yr
Expense Ratio
45.00%
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%
$3,833,920
Cap Rate 7%
$2,738,514
Cap Rate 9%
$2,129,956
Alternative Uses
Best Use
Mixed Use
$3.72M
$3.26M – $4.34M
NOI $260,510 @ 7.0% cap · market cap 11.40%
Second Best
Apartment 5plus
$2.74M
$2.40M – $3.19M
NOI $191,696 @ 7.0% cap · market cap 8.39%
Theoretical Best
Warehouse
$24.42M
$21.37M – $28.49M
NOI $1,709,378 @ 7.0% cap · market cap 74.81%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
331
Businesses Nearby
Explore this area
Business Placement
Demographics for 53181, WI
7,696
Population
4,479
Households
1.7
Avg Household Size
43
Median Age
25%
College-Educated
94%
High-School Grad
13.7 sq mi
ZIP Area
562
Density / Sq Mi
$93,922
Median Household Income
$55,146
Median Earnings
$1,051
Median Rent
$270,700
Median Home Value
Market
Vacancy Rate% for Multifamily in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Three-story property combines leased commercial space and residential units under commercial zoning near Lake Geneva.
Where is this mixed-use property located?
The property is located at 202 East Main Street Twin Lakes, WI.
What is the asking price?
The asking price for this property is $2,284,900.
What are key features of this property?
This property features: 20,975‑square‑foot mixed‑use property in Twin Lakes, Wisconsin; 4 commercial units occupy the first floor; 4 residential units are located across the second and third floors
