Mixed-Use Building with
For Sale
Contact for pricing
301 DeWitt Street, Portage, WI 53901
Three rented upper apartments and a leased main-floor restaurant with 99-person capacity, supported by a newer metal roof.
Property Size7,166 SF
Price / SF$87.20
Days on Market140
Property Features for 301 DeWitt Street
General Information
Standard status
Active
Size
7,166 SF
Total Parking Spaces
10
Property subtype
Hospitality, Mixed Use
Zoning
Commercial
Occupancy
100%
Investment Type
Stabilized
Additional Details
Multifamily Units
3
Building Details
Year Built
1873
Stories
2
Tenancy
Multi
Listing Agency:
First Weber Inc
Listed By:
Dixon Scheibach Team
(608) 742-4897
Source:
Crexi
Added: May 1
Changed: Sep 8
Last Checked: Sep 16 at 2:19PM
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 First Weber Inc
Investment Insights
Based on property information with market context.
This mixed-use property includes three upper apartments and a main-floor restaurant space that is currently leased. The three apartments are all rented with no vacancy, and the units have been updated with quality labor and materials. Building improvements include a newer metal roof and two brand new rooftop AC units.
The main-floor restaurant is leased for $2,550 per month with 4.5 years remaining on the term. Restaurant capacity is stated as 99. Current reported total monthly income is $5,675, consisting of $3,125 from the apartments and $2,550 from the restaurant lease.
For sale at 301 DeWitt Street in Portage, WI, the property is positioned as a cash-flowing building with existing tenant occupancy and in-place operating space.
The main-floor restaurant is leased for $2,550 per month with 4.5 years remaining on the term. Restaurant capacity is stated as 99. Current reported total monthly income is $5,675, consisting of $3,125 from the apartments and $2,550 from the restaurant lease.
For sale at 301 DeWitt Street in Portage, WI, the property is positioned as a cash-flowing building with existing tenant occupancy and in-place operating space.
Key Highlights
- Three upper apartments are currently rented for $3,125/month (under market pricing) with no vacancy reported.
- Main‑floor retail/restaurant space is leased for $2,550/month with 4.5 years remaining.
- Restaurant has a listed capacity of 99.
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
$57,209
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
9.15%
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%
$1,144,180
$1.1M
Cap Rate 7%
$817,271
$817.3K
Cap Rate 9%
$635,656
$635.7K
Market Conditions
NOI Build-Up for 7,166 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
$110.1K $15.36/SF
− Vacancy
−$6.1K −$0.84/SF
EGI
$104.0K $14.52/SF
− OpEx
−$46.8K −$6.53/SF
NOI
$57.2K $7.98/SF
Area
Columbia County, WI
Vacancy
5.50%
Lease Rate
$15.36 /SF/Yr
Expense Ratio
45.00%
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%
$1,144,180
Cap Rate 7%
$817,271
Cap Rate 9%
$635,656
Alternative Uses
Best Use
Specialty Retail
$1.32M
$1.15M – $1.54M
NOI $92,388 @ 7.0% cap · market cap 14.78%
Second Best
Mixed Use
$1.22M
$1.06M – $1.42M
NOI $85,132 @ 7.0% cap · market cap 13.62%
Theoretical Best
Office A
$1.61M
$1.41M – $1.88M
NOI $112,694 @ 7.0% cap · market cap 18.03%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
3
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
450
Businesses Nearby
Explore this area
Business Placement
Demographics for 53901, WI
14,924
Population
6,550
Households
2.3
Avg Household Size
42
Median Age
20%
College-Educated
91%
High-School Grad
147.3 sq mi
ZIP Area
101
Density / Sq Mi
$72,244
Median Household Income
$40,914
Median Earnings
$969
Median Rent
$214,300
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Midwest region
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Frequently Asked Questions
What type of property is this?
Triplex - Three rented upper apartments and a leased main-floor restaurant with 99-person capacity, supported by a newer metal roof.
Where is this triplex located?
The property is located at 301 DeWitt Street Portage, WI.
What is the asking price?
The asking price for this property is $624,900.
What are key features of this property?
This property features: Three upper apartments are currently rented for $3,125/month (under market pricing) with no vacancy reported.; Main‑floor retail/restaurant space is leased for $2,550/month with 4.5 years remaining.; Restaurant has a listed capacity of 99.
