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    Downtown Mixed-Use Income Building Title is generated by Realmo AI

    233 E Main Street, Reedsburg, WI 53959

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    For Sale
    $200,000

    Apartment building,Office,Retail - Reedsburg, WI

    Type:Apartment
    Property size:
    4,418 SF
    Price / SF:
    $45/SF
    Added:
    May 19, 2026
    Days on Market:
    16
    Last Refresh:
    Jun 3 at 7:06 pm

    Property Features for 233 E Main Street

    General Information

    Property type
    Commercial Sale
    Property subtype
    Apartment
    Zoning
    B1
    Parking features
    Offsite
    Interior features
    Private Restrooms, Residential unit(s), Inside storage
    Exterior features
    Alley
    Standard status
    Active
    APN
    276-0918-00000

    Taxes and HOA fees

    Tax Year
    2025
    Tax Annual Amount
    3653

    Utilities

    Heating system
    Forced Air, Radiant
    Cooling system
    Central Air, Wall Unit(s)

    Building Details

    Year built
    1900
    Floors in Building
    2
    Number of units
    3
    Building materials
    Brick
    Roof type
    Flat, Membrane, Metal, Rubber
    Architectural style
    Other

    We can help!

    Listing Contact
    Heidi Nemitz

    Listing agent Heidi Nemitz

    Listing office Gavin Brothers Auctioneers LLC 296 E Main St, Reedsburg, WI

    Listing date May 19, 2026

    MLS# 2023622 Listing URL

    Copyright © 2026 REALTORS® Association of South Central Wisconsin. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • 4,418 sq ft brick commercial building on Main Street in downtown Reedsburg
    • Upper level includes two 1‑bedroom apartments used by the seller
    • Lower level is occupied by a music recording tenant on a month‑to‑month basis
    • Full basement with shelving for storage
    • Offsite parking plus public street parking out front; additional public parking and alley access in the rear
    • Year built 1900 with flat membrane/metal/rubber roof; forced air and radiant heat; central air and wall unit cooling

    Overview

    This downtown mixed-use income building offers flexible real estate value with multiple revenue streams. The upper level includes two 1-bedroom apartments currently utilized by the seller. The lower level is occupied on a month-to-month basis by a music recording tenant, supporting continued cash flow while allowing room to adapt the space over time. A full basement with shelving provides additional storage capacity for operations or tenant use.

    Located on E Main Street in downtown Reedsburg, the property benefits from strong visibility and convenient public access. Public street parking is available out front, with additional public parking and alley access in the rear for added convenience.

    With zoning listed as B1, the building is well suited for investors and owner-occupants seeking a flexible downtown setup that can accommodate residential income while also supporting other commercial uses as opportunities arise. It’s an especially practical option for buyers looking for a property with existing tenant occupancy, while still retaining the ability to reimagine the lower-level layout to fit future demand.
    Property Profile Location Intelligence

    Current Use by Public Records

    Harps and Halos 77 Spiritual Center

    Suggested Use

    Real Estate Agency Law Firm Restaurant Dental Office Spa & Massage Center Hair Salon Nail Salon Building Supply Gym & Fitness Center Auto Repair Shop

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Reedsburg
    County
    Sauk
    State
    Wisconsin
    Longitude
    -90.007557
    Latitude
    43.532742

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    FAQs

    What type of property is this?
    Triplex - Versatile income property with apartments above and a month-to-month recording tenant below in a downtown setting.
    Where is this triplex located?
    The property is located at 233 E Main Street Reedsburg, WI.
    What is the asking price?
    The asking price for this property is $200,000.
    What are key features of this property?
    This property features: 4,418 sq ft brick commercial building on Main Street in downtown Reedsburg; Upper level includes two 1‑bedroom apartments used by the seller; Lower level is occupied by a music recording tenant on a month‑to‑month basis
    (608) 524-6416
    We can help!
    Listing Contact
    Heidi Nemitz
    Real Estate License ID: 57186-90
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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