Mixed-Use Building with
221-223 S Main St, Fort Atkinson, WI 53538
For Sale
New
$299,000
N, Fort Atkinson, WI
Property Size3,200 SF
Lot Size0.04 Acres
Price / SF$93.44
Days on Market1
Property Features for 221-223 S Main St
General Information
Property type
Property subtype
Zoning
Directions
Standard status
APN
Size
Lot size
Additional Details
Tenant in Place
Taxes and HOA fees
Tax Year
Tax Annual Amount
Building Details
Year built
Architectural style
Buildings
Listing Agency:
Lannon Stone Realty LLC
(262) 333-4440
Listed By:
Anthony Brus · License WI #5847190
(920) 728-1760
Added: Nov 12
Last Checked: Nov 12 at 5:06PM
MLS# 1988215
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.
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Investment Insights
Based on property information with market context.
This 3,200-square-foot mixed-use building includes approximately 1,600 square feet of commercial space, two restrooms, and access to a 1,250-square-foot dry basement. Two one-bedroom apartments on the upper floor are occupied by long-term tenants. The commercial space is available January 1st and has its own utility responsibility; zoning is Business DHMU.
Built in 1880, the property sits on a 0.04-acre parcel at 221-223 S Main St in Fort Atkinson. Rear alley access is also available.
Built in 1880, the property sits on a 0.04-acre parcel at 221-223 S Main St in Fort Atkinson. Rear alley access is also available.
Key Highlights
- 3,200‑square‑foot mixed‑use property on a 0.04‑acre parcel
- Approximately 1,600 square feet of commercial space with two restrooms
- Two occupied one‑bedroom apartments with long‑term tenants
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$27,456
Cap Rate
9.18%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$549,120
$549.1K
Cap Rate 7%
$392,229
$392.2K
Cap Rate 9%
$305,067
$305.1K
Market Conditions
NOI Build-Up for 3,200 SF
Gross rent
$49.9K $15.60/SF
− Vacancy
−$6.0K −$1.87/SF
EGI
$43.9K $13.73/SF
− OpEx
−$16.5K −$5.15/SF
NOI
$27.5K $8.58/SF
Area
Jefferson County, WI
Vacancy
12.00%
Lease Rate
$15.60 /SF/Yr
Expense Ratio
37.50%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$549,120
Cap Rate 7%
$392,229
Cap Rate 9%
$305,067
Alternative Uses
Best Use
Retail
$441.4K
$386.3K – $515.0K
NOI $30,901 @ 7.0% cap · market cap 10.33%
Second Best
Apartment 5plus
$429.0K
$375.4K – $500.6K
NOI $30,033 @ 7.0% cap · market cap 10.04%
Theoretical Best
Office A
$751.1K
$657.2K – $876.3K
NOI $52,577 @ 7.0% cap · market cap 17.58%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Current Use
Lease Details
2
Residential units
Multi-tenant
Tenancy
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
743
Businesses Nearby
65k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Groceries 38%
Dining 31%
Shops & Services 21%
Home Improvements & Furnishings 9%
Skogen's Festival Foods
Groceries
24,649 visits/mo
0.3 miles
McDonald's
Dining
16,322 visits/mo
0.3 miles
Casey's General Store
Shops & Services
7,335 visits/mo
0.2 miles
Niemann Ace Hardware
Home Improvements & Furnishings
5,883 visits/mo
0.4 miles
Stop N Go
Shops & Services
5,665 visits/mo
0.5 miles
Demographics for 53538, WI
18,643
Population
8,444
Households
2.2
Avg Household Size
43
Median Age
26%
College-Educated
92%
High-School Grad
97.1 sq mi
ZIP Area
192
Density / Sq Mi
$80,784
Median Household Income
$44,995
Median Earnings
$967
Median Rent
$228,200
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Retail in Midwest region
Frequently Asked Questions
What type of property is this?
Mixed-use property - Ground-floor commercial space is paired with two occupied one-bedroom apartments above.
Where is this mixed-use property located?
The property is located at 221-223 S Main St Fort Atkinson, WI.
What is the asking price?
The asking price for this property is $299,000.
What are key features of this property?
This property features: 3,200‑square‑foot mixed‑use property on a 0.04‑acre parcel; Approximately 1,600 square feet of commercial space with two restrooms; Two occupied one‑bedroom apartments with long‑term tenants
