Restored Storefront with
For Sale
Contact for pricing
234 High, Mineral Point, WI 53565
Updated commercial space with a finished lower level, rebuilt entrance, and existing day spa operation.
Property Size1,152 SF
Price / SF$186.55
Days on Market137
Property Features for 234 High
General Information
Standard status
Active
Size
1,152 SF
Total Parking Spaces
2
Property subtype
Retail, Office
Additional Details
Business Included
Yes
Building Details
Year Built
1900
Buildings
1
Units
1
Tenancy
Single
Listing Agency:
Re/Max Preferred Professionals
(608) 574-9145
Listed By:
Christina Weitzel · License #WI - 85554-94
Source:
Crexi
Added: Apr 16
Changed: Aug 29
Last Checked: Aug 29 at 1:03PM
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 Preferred Professionals
Investment Insights
Based on property information with market context.
This 1,152-square-foot storefront property, built in 1900, has undergone extensive restoration and operates as a day spa. Improvements include updated electrical, plumbing, and mechanical systems, hardwood flooring, tuckpointing, a reconstructed front entrance, track lighting, skylights, fresh paint, and a finished lower level. The property also includes a deck and cement pad.
Located at 234 High in Mineral Point, Wisconsin, the building combines a customer-facing storefront with upgraded interior and exterior features. The existing day spa operation can continue, while the current owner is also open to including furnishings, the business name, and website as part of the transaction.
Located at 234 High in Mineral Point, Wisconsin, the building combines a customer-facing storefront with upgraded interior and exterior features. The existing day spa operation can continue, while the current owner is also open to including furnishings, the business name, and website as part of the transaction.
Key Highlights
- 1,152 SF storefront property in Mineral Point, WI
- Built in 1900 with extensive restoration improvements
- Currently operating as a day spa
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
$16,478
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
7.67%
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%
$329,560
$329.6K
Cap Rate 7%
$235,400
$235.4K
Cap Rate 9%
$183,089
$183.1K
Market Conditions
NOI Build-Up for 1,152 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
$24.9K $21.60/SF
− Vacancy
−$1.3K −$1.17/SF
EGI
$23.5K $20.43/SF
− OpEx
−$7.1K −$6.13/SF
NOI
$16.5K $14.30/SF
Area
Iowa County, WI
Vacancy
5.40%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
30.00%
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%
$329,560
Cap Rate 7%
$235,400
Cap Rate 9%
$183,089
Alternative Uses
Best Use
Retail
$235.4K
$206.0K – $274.6K
NOI $16,478 @ 7.0% cap · market cap 7.67%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$336.5K
$294.5K – $392.6K
NOI $23,556 @ 7.0% cap · market cap 10.96%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Single-tenant
Tenancy
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
354
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 53565, WI
4,899
Population
2,026
Households
2.4
Avg Household Size
45
Median Age
31%
College-Educated
95%
High-School Grad
186.0 sq mi
ZIP Area
26
Density / Sq Mi
$81,362
Median Household Income
$47,060
Median Earnings
$805
Median Rent
$254,200
Median Home Value
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Storefront property - Updated commercial space with a finished lower level, rebuilt entrance, and existing day spa operation.
Where is this storefront property located?
The property is located at 234 High Mineral Point, WI.
What is the asking price?
The asking price for this property is $214,900.
What are key features of this property?
This property features: 1,152 SF storefront property in Mineral Point, WI; Built in 1900 with extensive restoration improvements; Currently operating as a day spa
