Building Details

Year Built 1965

Listing Agency: Madison Commercial Real Estate LLC

Listed By: Mike Herl · License #5120090 Show Phone

Source: Madisonareahomesforsale

Added: May 11 Changed: Sep 9 Last Checked: Sep 11 at 11:25AM

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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 Madison Commercial Real Estate LLC

Investment Insights

Based on property information with market context.

This property is a former c-store that previously operated as a SQLC convenience store. It is suited for a retail or convenience-based reuse, with the existing hard-corner retail presence supporting walk-in and roadside visibility.

The location is described as a hard corner at the intersection of N Park St and E Main St, at 306 E Main St in Reedsburg, WI.

The offering is for sale.

Key Highlights

• Former c‑store space on the hard corner of N Park St and E Main St
• Located at the intersection of N Park St & E Main St

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

$18,303

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

5.23%

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%

$366,060 $366.1K

Cap Rate 7%

$261,471 $261.5K

Cap Rate 9%

$203,367 $203.4K

Market Conditions

NOI Build-Up for 1,392 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

$25.1K $18.00/SF

− Vacancy

−$651 −$0.47/SF

EGI

$24.4K $17.53/SF

− OpEx

−$6.1K −$4.38/SF

NOI

$18.3K $13.15/SF

Area

Sauk County, WI

Vacancy

2.60%

Lease Rate

$18.00 /SF/Yr

Expense Ratio

25.00%

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%

$366,060

Cap Rate 7%

$261,471

Cap Rate 9%

$203,367

Alternative Uses

Best Use

Specialty Retail

$261.5K

$228.8K – $305.1K (±1% cap)

NOI $18,303 @ 7.0% cap · market cap 5.23%

Second Best

Retail

$200.4K

$175.4K – $233.9K (±1% cap)

NOI $14,031 @ 7.0% cap · market cap 4.01%

Theoretical Best

Office A

$281.8K

$246.6K – $328.7K (±1% cap)

NOI $19,724 @ 7.0% cap · market cap 5.64%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Current Use

Cenex Gas Station Sqrl Gas Station

Suggested Use

Top Pick Dental Office Real Estate Agency Bakery Plumbing Service Furniture & Home Goods Cafe & Coffee Shop

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

447

Businesses Nearby

1k

Monthly Visits Nearby

Explore this area Business Placement

Foot Traffic Nearby

Electronics 100%

U.S. Cellular Electronics

1,206 visits/mo 0.1 miles

Demographics for 53959, WI

14,298

Population

5,930

Households

2.4

Avg Household Size

41

Median Age

25%

College-Educated

94%

High-School Grad

111.6 sq mi

ZIP Area

128

Density / Sq Mi

$76,313

Median Household Income

$41,886

Median Earnings

$954

Median Rent

$240,500

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

Questions? Ask Rey

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What type of property is this? Where is this gas stations located? What is the asking price? Find similar properties What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Gas station - Former c-store space sits on a hard corner at the intersection of N Park St and E Main St.

Where is this gas station located?

The property is located at 306 E Main Reedsburg, WI.

What is the asking price?

The asking price for this property is $350,000.

What are key features of this property?

This property features: Former c‑store space on the hard corner of N Park St and E Main St; Located at the intersection of N Park St & E Main St