Mixed-Use Building with Five
For Sale
Contact for pricing
318 W North Water St, New London, WI 54961
Upper-level residences complement an established bar operation on the ground floor.
Property Size6,400 SF
Price / SF$93.59
Days on Market55
Property Features for 318 W North Water St
General Information
Standard status
Active
Size
6,400 SF
Property subtype
Mixed Use
Investment Type
Stabilized
Net Operating Income
$77,423
Additional Details
Cap Rate
11.5%
Multifamily Units
5
Building Details
Year Built
1920
Units
5
Tenancy
Multi
Listing Agency:
Drifka Group
Listed By:
Tim Ceman · License #111378 - 94
(920) 659-0052
Source:
Crexi
Added: Aug 13
Changed: Oct 6
Last Checked: Oct 5 at 7:37PM
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 Drifka Group
Investment Insights
Based on property information with market context.
Built in 1920, this 6,400-square-foot mixed-use building combines five residential apartments on the upper level with an established bar tenant occupying the main floor. The configuration places residential and commercial uses within one property, creating a diversified rental profile.
Located at 318 W. North Water St in downtown New London, the property sits along the Wolf River and offers a waterfront setting within the downtown area. The asset is offered as a rental investment with an 11.5% cap rate.
Located at 318 W. North Water St in downtown New London, the property sits along the Wolf River and offers a waterfront setting within the downtown area. The asset is offered as a rental investment with an 11.5% cap rate.
Key Highlights
- Five residential apartments on the upper level
- Established commercial bar tenant on the main floor
- 6,400‑square‑foot mixed‑use building
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$51,667
Cap Rate
8.63%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,033,340
$1.0M
Cap Rate 7%
$738,100
$738.1K
Cap Rate 9%
$574,078
$574.1K
Market Conditions
NOI Build-Up for 6,400 SF
Gross rent
$89.9K $14.04/SF
− Vacancy
−$7.2K −$1.12/SF
EGI
$82.7K $12.92/SF
− OpEx
−$31.0K −$4.84/SF
NOI
$51.7K $8.07/SF
Area
Waupaca County, WI
Vacancy
8.00%
Lease Rate
$14.04 /SF/Yr
Expense Ratio
37.50%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,033,340
Cap Rate 7%
$738,100
Cap Rate 9%
$574,078
Alternative Uses
Best Use
Mixed Use
$738.1K
$645.8K – $861.1K
NOI $51,667 @ 7.0% cap · market cap 8.63%
Second Best
Specialty Retail
$665.2K
$582.1K – $776.1K
NOI $46,565 @ 7.0% cap · market cap 7.77%
Theoretical Best
Office A
$1.20M
$1.05M – $1.40M
NOI $83,915 @ 7.0% cap · market cap 14.01%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
5
Residential units
Location Intelligence
Trade Area within ½ mile
387
Businesses Nearby
Explore this area
Business Placement
Demographics for 54961, WI
14,122
Population
6,249
Households
2.3
Avg Household Size
43
Median Age
18%
College-Educated
91%
High-School Grad
124.1 sq mi
ZIP Area
114
Density / Sq Mi
$71,337
Median Household Income
$43,960
Median Earnings
$841
Median Rent
$196,600
Median Home Value
Check the figures for this property
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?
Mixed-use property - Upper-level residences complement an established bar operation on the ground floor.
Where is this mixed-use property located?
The property is located at 318 W North Water St New London, WI.
What is the asking price?
The asking price for this property is $599,000.
What are key features of this property?
This property features: Five residential apartments on the upper level; Established commercial bar tenant on the main floor; 6,400‑square‑foot mixed‑use building
