Two-Unit Mixed-Use
For Sale
$220,000
315 Freeman St, Genoa City, WI 53128
Ground-floor storefront with an upper-level kitchen, bedroom or office, and full bath supports flexible occupancy options.
Property Size1,052 SF
Price / SF$209.13
Days on Market47
Property Features for 315 Freeman St
General Information
Standard status
Active
Size
1,052 SF
Taxes and HOA fees
Annual Taxes
$1,440
Listing Agency:
Homesmart Connect LLC
(312) 375-7803
Listed By:
Jennifer Beltrame
(312) 375-7803
Source:
Exprealty
Added: Jul 15
Changed: Aug 29
Last Checked: Aug 29 at 5:49PM
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 Homesmart Connect LLC
Investment Insights
Based on property information with market context.
This two-unit mixed-use property combines a ground-floor storefront with an upper-level residential or office-style layout. The main level includes an open retail area, exposed brick, luxury vinyl plank flooring, kitchenette, full bath, storage room, and washer/dryer hookups. Upstairs, the configuration provides a large eat-in kitchen, one bedroom or office, and another full bath.
Located in the Genoa City business district, the property offers both commercial and additional usable space within the same building. Capital improvements include a roof replacement in 2019, a water heater installed in 2023, and replacement furnace and A/C equipment in 2025. The building is being sold as-is.
Located in the Genoa City business district, the property offers both commercial and additional usable space within the same building. Capital improvements include a roof replacement in 2019, a water heater installed in 2023, and replacement furnace and A/C equipment in 2025. The building is being sold as-is.
Key Highlights
- Two‑unit mixed‑use building in the Genoa City business district
- Ground‑floor storefront with exposed brick and newly installed luxury vinyl plank flooring
- Upper level includes an eat‑in kitchen, one bedroom or office, and full bath
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
$13,066
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
5.94%
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%
$261,320
$261.3K
Cap Rate 7%
$186,657
$186.7K
Cap Rate 9%
$145,178
$145.2K
Market Conditions
NOI Build-Up for 1,052 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
$22.7K $21.60/SF
− Vacancy
−$1.8K −$1.73/SF
EGI
$20.9K $19.87/SF
− OpEx
−$7.8K −$7.45/SF
NOI
$13.1K $12.42/SF
Area
Walworth County, WI
Vacancy
8.00%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
37.50%
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%
$261,320
Cap Rate 7%
$186,657
Cap Rate 9%
$145,178
Alternative Uses
Best Use
Mixed Use
$186.7K
$163.3K – $217.8K
NOI $13,066 @ 7.0% cap · market cap 5.94%
Second Best
Office B
$131.9K
$115.4K – $153.9K
NOI $9,231 @ 7.0% cap · market cap 4.20%
Theoretical Best
Specialty Retail
$203.0K
$177.6K – $236.9K
NOI $14,211 @ 7.0% cap · market cap 6.46%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
180
Businesses Nearby
Explore this area
Business Placement
Demographics for 53128, WI
9,064
Population
4,053
Households
2.2
Avg Household Size
38
Median Age
18%
College-Educated
91%
High-School Grad
25.3 sq mi
ZIP Area
358
Density / Sq Mi
$90,343
Median Household Income
$47,207
Median Earnings
$1,147
Median Rent
$232,700
Median Home Value
Market
Vacancy Rate% for Office in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Ground-floor storefront with an upper-level kitchen, bedroom or office, and full bath supports flexible occupancy options.
Where is this mixed-use property located?
The property is located at 315 Freeman St Genoa City, WI.
What is the asking price?
The asking price for this property is $220,000.
What are key features of this property?
This property features: Two‑unit mixed‑use building in the Genoa City business district; Ground‑floor storefront with exposed brick and newly installed luxury vinyl plank flooring; Upper level includes an eat‑in kitchen, one bedroom or office, and full bath
