Salon-Ready
For Sale
$300,000
238 E Racine, Jefferson, WI 53549
Visible commercial storefront with off-street parking and an adaptable interior for retail or office use.
Property Size1,223 SF
Price / SF$245.30
Days on Market52
Property Features for 238 E Racine
General Information
Standard status
Active
Size
1,223 SF
Property subtype
Commercial
Building Details
Year Built
1955
Listing Agency:
Keller Williams Lake Country
(715) 307-0629
Listed By:
Denis Greatens · License #57743
Source:
Madisonareahomesforsale
Added: Jul 9
Changed: Aug 29
Last Checked: Aug 25 at 7:07AM
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 Keller Williams Lake Country
Investment Insights
Based on property information with market context.
This storefront property includes 1,223 of interior space and was previously occupied by a hair salon. The bright interior can be customized for a new business, with the existing layout offering a practical starting point for salon, boutique retail, or professional office use.
Positioned along a busy road in Jefferson, the property benefits from strong exposure, dedicated off-street parking, and an established commercial presence. Its curb-facing profile and flexible interior support a range of storefront-oriented business concepts.
Positioned along a busy road in Jefferson, the property benefits from strong exposure, dedicated off-street parking, and an established commercial presence. Its curb-facing profile and flexible interior support a range of storefront-oriented business concepts.
Key Highlights
- 1,223 of interior space
- Previously occupied by a hair salon
- Bright interior ready for customization
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
$11,810
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
3.94%
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%
$236,200
$236.2K
Cap Rate 7%
$168,714
$168.7K
Cap Rate 9%
$131,222
$131.2K
Market Conditions
NOI Build-Up for 1,223 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
$17.6K $14.40/SF
− Vacancy
−$740 −$0.60/SF
EGI
$16.9K $13.80/SF
− OpEx
−$5.1K −$4.14/SF
NOI
$11.8K $9.66/SF
Area
Jefferson County, WI
Vacancy
4.20%
Lease Rate
$14.40 /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%
$236,200
Cap Rate 7%
$168,714
Cap Rate 9%
$131,222
Alternative Uses
Best Use
Retail
$168.7K
$147.6K – $196.8K
NOI $11,810 @ 7.0% cap · market cap 3.94%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$287.1K
$251.2K – $334.9K
NOI $20,094 @ 7.0% cap · market cap 6.70%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
425
Businesses Nearby
26k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 100%
Dollar Tree
Shops & Services
9,390 visits/mo
0.3 miles
Jefferson
Shops & Services
6,102 visits/mo
0.3 miles
BP
Shops & Services
2,445 visits/mo
0.2 miles
Associated Bank
Shops & Services
2,163 visits/mo
0.2 miles
Speedway
Shops & Services
2,012 visits/mo
0.4 miles
Demographics for 53549, WI
10,199
Population
4,544
Households
2.2
Avg Household Size
43
Median Age
23%
College-Educated
92%
High-School Grad
71.1 sq mi
ZIP Area
143
Density / Sq Mi
$78,058
Median Household Income
$47,266
Median Earnings
$1,035
Median Rent
$247,200
Median Home Value
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Storefront property - Visible commercial storefront with off-street parking and an adaptable interior for retail or office use.
Where is this storefront property located?
The property is located at 238 E Racine Jefferson, WI.
What is the asking price?
The asking price for this property is $300,000.
What are key features of this property?
This property features: 1,223 of interior space; Previously occupied by a hair salon; Bright interior ready for customization
