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    Former Landmark Restaurant/Bar Opportunity Title is generated by Realmo AI

    301 Dalogasa Dr, Arena, WI 53503

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    Claim this Listing
    For Sale
    $549,900

    Multi-unit commercial building with potential for residential conversion.

    Property size:
    7,330 SF
    Lot size:
    1.04 Acres
    Price / SF:
    $75/SF
    Added:
    Aug 6, 2025
    Days on Market:
    299
    Last Refresh:
    Jan 20 at 8:03 am

    Property Features for 301 Dalogasa Dr

    General Information

    Standard status
    Active
    Size
    7,330 SF
    Lot size
    1.04 Acres

    We can help!

    Listing Contact
    Evy Halverson

    Listing agent Evy Halverson

    Listing office FSBO Plus Realty, LLC

    Listing date Aug 6, 2025

    Source Exprealty

    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 FSBO Plus Realty, LLC

    HighLights

    • Zoned for multiple businesses including restaurant, retail, offices, or multi‑unit residential apartments.
    • Located on busy Hwy 14 with high visibility and multiple public street accesses.
    • Large building size: 6195 sq ft, expandable to approximately 7330 sq ft with outside porch area.
    • Flexible interior layout with non‑weight‑bearing walls for easy renovations.
    • Blacktopped parking area for 21 vehicles.
    • 4‑inch water pipe in place, suitable for sprinkler system installation.

    Overview

    Located in the Village of Arena, the property was formerly The Landmark Restaurant/Bar. The building currently hosts 3 or more units and is zoned for multiple businesses, including a restaurant, retail shops, and offices. There is pre-approval to create multi-unit residential apartments or a business with separate living quarters. The sellers will include zoning as needed for specific plans. A blacktopped parking area accommodates 21 vehicles. Interior walls are non-weight bearing, facilitating renovations. The building has a 4-inch water pipe in place if a sprinkler system is needed. The current area is 6195 square feet, with potential expansion to an outside porch area of approximately 7330 square feet. The property is located on busy Highway 14, offering significant exposure, and has multiple public street accesses.
    Property Profile Location Intelligence

    Current Use by Public Records

    J K Manufacturing Industrial Manufacturer

    Suggested Use

    Restaurant Hair Salon Building Supply Auto Repair Shop Accounting Firm Kitchen & Bath Showroom Hotel & Motel Discount Store Grocery & Convenience Store Electrical Service

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

    Location Insight

    • Map
    • Local Demand
    City
    Arena
    County
    Iowa
    State
    Wisconsin
    Longitude
    -89.9025
    Latitude
    43.1651

    FAQs

    What type of property is this?
    Specialty property - Multi-unit commercial building with potential for residential conversion.
    Where is this specialty property located?
    The property is located at 301 Dalogasa Dr Arena, WI.
    What is the asking price?
    The asking price for this property is $549,900.
    What are key features of this property?
    This property features: Zoned for multiple businesses including restaurant, retail, offices, or multi‑unit residential apartments.; Located on busy Hwy 14 with high visibility and multiple public street accesses.; Large building size: **6195 sq ft**, expandable to approximately **7330 sq ft** with outside porch area.
    (608) 753-2462
    We can help!
    Listing Contact
    Evy Halverson
    Request Owner's contact information
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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.

    More about this property
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    301 Dalogasa Dr, ARENA, WI, 53503-9708
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