Freestanding Bank with
New
For Sale
Contact for pricing
2608 Center Ave, Janesville, WI 53546
The vacant building retains drive-through lanes and a paved parking area.
Property Size4,271 SF
Lot Size2.94 Acres
Days on Market5
Property Features for 2608 Center Ave
General Information
Standard status
Active
Size
4,271 SF
Total Parking Spaces
23
Lot size
2.94 Acres
Property subtype
Vacant-User
Zoning
B-2
Site & Location
Drive-Thru
Yes
Traffic Count
11,185 vehicles/day
Highway Access
Yes
Road Access
Yes
Additional Details
Opportunity Zone
Yes
Amenities
drive-thru lanes
ABSOLUTE $1 AUCTION | Former BMO Bank | 2 Drive-Thrus | 11K VPD | Milwaukee/Madison Market | AUCTION NOVEMBER 16-18
Freestanding Bank with 2 Drive-Thrus - ±4,271 SF former BMO on ±2.94 acres includes two drive-thru lanes and 23 parking spaces.
High-Visibility Center Avenue Position - ±11,185 VPD frontage provides direct access and visibility along an established commercial corridor.
Flexible B-2 Community Shopping Zoning - District supports financial, retail, office, and service-oriented repositioning opportunities.
Strategic Southern Wisconsin Connectivity - WI-11 and I-39/I-90 link the site to Madison, Rockford, Milwaukee, and northern Illinois.
Opportunity Zone with Strong Demographics - Nearly 55,000 residents within five miles have average household income of approximately $82,111.
Absolute $1 Auction - First Bid Meets Reserve!
Building Details
Building Size
4,271 SF
Year Built
1974
Buildings
1
Owner Occupied
No
Listing Agency:
Fort Lauderdale Office
Listed By:
Philip Kates · License #License(s): FL: SL3235872, NC: LC1044
(954) 245-3408
Source:
Marcusmillichap
Added: Oct 30
Changed: Nov 1
Last Checked: Nov 3 at 2:57AM
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 Fort Lauderdale Office
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This vacant, freestanding bank building in Janesville contains 4,271 square feet and was constructed in 1974. The 2.94-acre property includes two drive-through lanes, 23 surface parking spaces, and a driveway that circulates around the building. Its B-2 Community Shopping District zoning supports financial-services, retail, office, and service concepts, subject to applicable approvals.
The property fronts Center Avenue, which carries 11,185 VPD. WI-11 is approximately 0.5 mile away, and I-39/I-90 is approximately three miles away; traffic on the interstate exceeds 63,000 VPD. Janesville is situated between Madison and Milwaukee, with Rockford approximately 40 minutes away. The trade area within five miles includes nearly 55,000 residents.
The property fronts Center Avenue, which carries 11,185 VPD. WI-11 is approximately 0.5 mile away, and I-39/I-90 is approximately three miles away; traffic on the interstate exceeds 63,000 VPD. Janesville is situated between Madison and Milwaukee, with Rockford approximately 40 minutes away. The trade area within five miles includes nearly 55,000 residents.
Key Highlights
- 4,271‑square‑foot vacant freestanding bank building on 2.94 acres
- Two drive‑through lanes and 23 surface parking spaces
- Built in 1974
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$51,554
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,031,080
$1.0M
Cap Rate 7%
$736,486
$736.5K
Cap Rate 9%
$572,822
$572.8K
Market Conditions
NOI Build-Up for 4,271 SF
Gross rent
$76.9K $18.00/SF
− Vacancy
−$3.2K −$0.76/SF
EGI
$73.6K $17.24/SF
− OpEx
−$22.1K −$5.17/SF
NOI
$51.6K $12.07/SF
Area
Rock County, WI
Vacancy
4.20%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,031,080
Cap Rate 7%
$736,486
Cap Rate 9%
$572,822
Alternative Uses
Best Use
Specialty Retail
$962.7K
$842.4K – $1.12M
NOI $67,391 @ 7.0% cap · market cap 6,739,100.00%
Second Best
Retail
$736.5K
$644.4K – $859.2K
NOI $51,554 @ 7.0% cap · market cap 5,155,400.00%
Theoretical Best
Office A
$1.03M
$898.1K – $1.20M
NOI $71,845 @ 7.0% cap · market cap 7,184,500.00%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Lease Details
11,185 VPD
Traffic count
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
239
Businesses Nearby
16k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 50%
Dining 50%
Dollar General
Shops & Services
8,134 visits/mo
0.4 miles
Burger King
Dining
8,129 visits/mo
0.5 miles
Demographics for 53546, WI
31,190
Population
12,816
Households
2.4
Avg Household Size
41
Median Age
26%
College-Educated
95%
High-School Grad
81.1 sq mi
ZIP Area
385
Density / Sq Mi
$73,430
Median Household Income
$45,481
Median Earnings
$1,076
Median Rent
$220,100
Median Home Value
Market
Vacancy Rate% for Retail in Midwest region
Frequently Asked Questions
What type of property is this?
Bank - The vacant building retains drive-through lanes and a paved parking area.
Where is this bank located?
The property is located at 2608 Center Ave Janesville, WI.
What are key features of this property?
This property features: 4,271‑square‑foot vacant freestanding bank building on 2.94 acres; Two drive‑through lanes and 23 surface parking spaces; Built in 1974
