Building Details

Building Size 3,561 SF

Year Built 1980

Buildings 1

Listing Agency: Re/Max Results l***@results.net Show Phone

Listed By: Jessica Sands · License #92735-94 Show Phone

Source: Coactionrealestate

Added: Oct 19 Changed: Oct 26 Last Checked: Oct 29 at 7:42PM

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Review the available facts, identify missing information and prepare questions for the agent.

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Investment Insights

Based on property information with market context.

This 3,561-square-foot mixed-use commercial building was constructed in 1980 and has an open interior with multiple areas and two bathrooms. An oversized glass garage door connects the interior to a fenced patio, extending the usable space outdoors. Commercial zoning supports the property’s mixed-use classification.

Located at 234 Leonard Street N N in West Salem, Wisconsin, the building includes 15 on-site parking spaces.

Key Highlights

• 3,561 square feet of commercial space
• Commercial zoning
• Open layout with multiple interior areas and 2 bathrooms

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$35,820

Cap Rate

6.02%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$716,400 $716.4K

Cap Rate 7%

$511,714 $511.7K

Cap Rate 9%

$398,000 $398.0K

Is this asking price fair?

Market Conditions

NOI Build-Up for 3,561 SF

Gross rent

$53.4K $15.00/SF

− Vacancy

−$2.2K −$0.63/SF

EGI

$51.2K $14.37/SF

− OpEx

−$15.4K −$4.31/SF

NOI

$35.8K $10.06/SF

Area

La Crosse County, WI

Vacancy

4.20%

Lease Rate

$15.00 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$716,400

Cap Rate 7%

$511,714

Cap Rate 9%

$398,000

Alternative Uses

Best Use

Retail

$511.7K

$447.8K – $597.0K (±1% cap)

NOI $35,820 @ 7.0% cap · market cap 6.02%

Second Best

Mixed Use

$456.3K

$399.3K – $532.4K (±1% cap)

NOI $31,942 @ 7.0% cap · market cap 5.37%

Theoretical Best

Specialty Retail

$778.8K

$681.4K – $908.6K (±1% cap)

NOI $54,515 @ 7.0% cap · market cap 9.16%

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

Retail space

Suggested Use

Top Pick Real Estate Agency Law Firm Electrical Service Nail Salon Bakery (Bike/Boat/Book/etc) Store

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

302

Businesses Nearby

47k

Monthly Visits Nearby

Explore this area Business Placement

Foot Traffic Nearby

Shops & Services 85% Home Improvements & Furnishings 8% Dining 7%

Kwik Trip Shops & Services

39,722 visits/mo 0.4 miles

Ace Hardware Home Improvements & Furnishings

3,857 visits/mo 0.5 miles

SUBWAY Dining

3,178 visits/mo 0.5 miles

Demographics for 54669, WI

8,094

Population

3,246

Households

2.5

Avg Household Size

42

Median Age

42%

College-Educated

98%

High-School Grad

51.6 sq mi

ZIP Area

157

Density / Sq Mi

$100,214

Median Household Income

$47,884

Median Earnings

$1,156

Median Rent

$288,600

Median Home Value

Market

Vacancy Rate% for Retail in Midwest region

8% 2020

7.3% 2021

6.5% 2022

6% 2023

5.7% 2024

6.3% 2025

Similar For Sale Nearby

See more

Mixed-Use Building with Apartment

154 Leonard Street S, West Salem, WI 54669

$225,000

1,650 SF

View details

Flex Space with Warehouse Area

103 Leonard St N, West Salem, WI 54669

$499,900

4,200 SF

View details

Frequently Asked Questions

What type of property is this?

Mixed-use property - Open interior layout, two bathrooms, and 15 on-site parking spaces support a range of commercial configurations.

Where is this mixed-use property located?

The property is located at 234 Leonard Street N N West Salem, WI.

What is the asking price?

The asking price for this property is $595,000.

What are key features of this property?

This property features: 3,561 square feet of commercial space; Commercial zoning; Open layout with multiple interior areas and 2 bathrooms