Ripon Retail Investment
223 Watson St Ripon, WI 54971
223 Watson St, Ripon, WI, 54971
$299,000
For Sale
$299,000
Retail Space Investment Opportunity
Property Size3,000 SF
Lot Size0.10 Acres
Price / SF$99.67
AddedDec 20, 2024
Days on Market572
Last RefreshMar 16 at 9:06 am
Property Features for 223 Watson St
General Information
- Standard status
- Active
- Property type
- Retail residential properties, Individual retail properties, Other retail properties, Mixed-use properties, Retail properties & Spaces
- Size
- 3,000 SF
- Class
- C
- Elevators
- N/A
- Lot size
- 0.10 Acres
- Investment Type
- Owner User
Building Details
- Year Built
- 1885
- Buildings
- 1
- Stories
- 2
Listing agent Desiree (847) 863-5536
Listing office (847) 863-5536
Listing date Dec 20, 2024
Investment Insights
Based on property information with market context.
Located in downtown Ripon, Wisconsin, these two adjacent commercial buildings on Watson Street offer an investment opportunity. The buildings, formerly the Knuth Brewing Company, feature hardwood floors, expansive windows, and tin ceilings. The retail space is suitable for a range of businesses, including restaurants, boutiques, or coffee shops. Each building includes a two-bedroom, one-bathroom apartment on the upper level, providing additional income potential. The total building size is 3000 square feet on a 0.1-acre lot. The property is ideal for an owner-user seeking a profitable business venture. The location ensures high foot traffic and visibility, making it attractive for retail businesses. The residential apartments add investment potential.
Key Highlights
- + Extremely high traffic location in downtown Ripon Wisconsin
- + Apartment upstairs with 2 bedrooms 1 bathroom
- + Character building with high ceilings, hardwood floors and potential for any retail business
Local Financial Insights For Mixed Use
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $39.6k | $13.20 |
| − Vacancy | −$3.2k | −$1.06 |
| EGI | $36.4k | $12.14 |
| − OpEx | −$13.7k | −$4.55 |
| NOI | $22.8k | $7.59 |
3,000 SF · lease $13.20/SF/yr · vacancy 8.00% · expense 37.50%
Alternative Uses
Best Use
Mixed Use
$325.3K
$284.6K – $379.5K
NOI $22,770 @ 7.0% cap · market cap 7.62%
Second Best
Retail
$193.1K
$169.0K – $225.3K
NOI $13,519 @ 7.0% cap · market cap 4.52%
Theoretical Best
Multifamily LT 5
$2.89M
$2.53M – $3.37M
NOI $202,356 @ 7.0% cap · market cap 67.68%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Retail residential properties
Similar For Sale Nearby
FAQs
What type of property is this?
Retail residential property - Retail Space Investment Opportunity
Where is this retail residential property located?
The property is located at 223 Watson St Ripon, 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: + Extremely high traffic location in downtown Ripon Wisconsin; + Apartment upstairs with 2 bedrooms 1 bathroom; + Character building with high ceilings, hardwood floors and potential for any retail business
