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    Downtown Mixed-Use Flex Building Title is generated by Realmo AI

    307-309 Dewitt, Portage, WI 53901

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    Flexible multi-level building with storefront frontage and rear alley delivery access, including a drive-thru window.

    Type:Retail, Office, Industrial
    Property size:
    8,000 SF
    Price / SF:
    $28/SF
    Added:
    May 26, 2026
    Days on Market:
    12
    Last Refresh:
    Jun 6 at 3:25 am

    Property Features for 307-309 Dewitt

    General Information

    Standard status
    Active
    Size
    8,000 SF
    Property subtype
    Retail, Office, Industrial

    Building Details

    Year Built
    1900

    We can help!

    Listing Contact
    Cory Otto

    Listing agent Cory Otto License #57981-90

    Listing office Epique Realty

    Listing date May 26, 2026

    Source Crexi

    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 Epique Realty

    HighLights

    • 8,000+ SF commercial building in Downtown Portage with flexible uses including retail, office, restaurant, showroom, mixed‑use, or investment
    • Main level features an open‑concept layout with exposed brick, tall ceilings, and abundant natural light
    • Large storefront display windows for visibility, plus multiple separate rooms, workspace areas, and substantial storage on the main floor
    • Rear alley access with double doors and a freight hoist for deliveries and operations
    • Drive‑thru window already in place
    • Upper level includes interior stair access and a separate entrance for office, studio, storage, or potential apartment conversion

    Overview

    This is an 8,000+ square foot commercial building designed for flexible use, with an open main level featuring exposed brick, tall ceilings, and abundant natural light. A large storefront front includes multiple display windows intended to bring attention to street-level space. The rear portion of the main floor contains separate rooms, workspace areas, and substantial storage that can be reconfigured or opened up. Convenient rear alley access is supported by double doors and a freight hoist, and a drive-thru window is already in place. The upper level provides additional flexibility with interior stair access and a separate entrance.

    Located in the heart of Downtown Portage, the building combines downtown exposure with interior character features such as exposed brick and tall ceilings. With both a storefront presence and practical delivery access through the rear alley, it can support day-to-day operations that require periodic freight handling.

    The property can fit tenants or owners seeking a retail, office, studio, showroom, restaurant, or mixed-use configuration, with options to keep operations on the main level and use the upper space for additional business, storage, or other adaptable needs. The existing drive-thru window and freight hoist align well with uses that benefit from customer ordering through a dedicated window and straightforward deliveries.
    Location Intelligence

    Current Use by Public Records

    Flex space

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Daycare Center

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

    Location Insight

    • Map
    • Local Demand
    City
    Portage
    County
    Columbia
    State
    Wisconsin
    Longitude
    -89.4596468
    Latitude
    43.5402047

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    FAQs

    What type of property is this?
    Flex space - Flexible multi-level building with storefront frontage and rear alley delivery access, including a drive-thru window.
    Where is this flex space located?
    The property is located at 307-309 Dewitt Portage, WI.
    What is the asking price?
    The asking price for this property is $225,000.
    What are key features of this property?
    This property features: 8,000+ SF commercial building in Downtown Portage with flexible uses including retail, office, restaurant, showroom, mixed‑use, or investment; Main level features an open‑concept layout with exposed brick, tall ceilings, and abundant natural light; Large storefront display windows for visibility, plus multiple separate rooms, workspace areas, and substantial storage on the main floor
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Cory Otto
    Real Estate License ID: 57981-90
    Learn More
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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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