Building Details

Year Built 1868

Buildings 1

Stories 2

Construction brick

Tenancy Multi

Listing Agency: RE/MAX Preferred

Listed By: Julia Oellerich · License #42216 Show Phone

Source: Housesthatshine

Added: Sep 29 Last Checked: Oct 7 at 9:16AM

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Investment Insights

Based on property information with market context.

Dating to 1868, this 1,694-square-foot mixed-use property pairs ground-floor retail with a one-bedroom, one-bath apartment above. Both spaces are currently leased. The apartment was fully renovated, while the retail area retains hardwood flooring, exposed stone, tin ceilings, and ornate crown molding. The original brick exterior has been maintained, and major work has addressed the roof, HVAC, electrical, plumbing, and structural components.

The property is at 33 High Street in Mineral Point’s historic district. Arched windows in the upper residence face High Street. The apartment has also been used for Airbnb stays in the past.

Key Highlights

• 1,694‑square‑foot mixed‑use property built in 1868
• Ground‑floor retail and a one‑bedroom, one‑bath apartment above; both spaces are leased
• Renovations include the roof, HVAC, electrical, plumbing, and structural components

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$24,230

Cap Rate

8.08%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$484,600 $484.6K

Cap Rate 7%

$346,143 $346.1K

Cap Rate 9%

$269,222 $269.2K

Market Conditions

NOI Build-Up for 1,694 SF

Gross rent

$36.6K $21.60/SF

− Vacancy

−$2.0K −$1.17/SF

EGI

$34.6K $20.43/SF

− OpEx

−$10.4K −$6.13/SF

NOI

$24.2K $14.30/SF

Area

Iowa County, WI

Vacancy

5.40%

Lease Rate

$21.60 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$484,600

Cap Rate 7%

$346,143

Cap Rate 9%

$269,222

Alternative Uses

Best Use

Retail

$346.1K

$302.9K – $403.8K (±1% cap)

NOI $24,230 @ 7.0% cap · market cap 8.08%

Second Best

Mixed Use

$334.0K

$292.2K – $389.6K (±1% cap)

NOI $23,377 @ 7.0% cap · market cap 7.79%

Theoretical Best

Office A

$494.8K

$433.0K – $577.3K (±1% cap)

NOI $34,639 @ 7.0% cap · market cap 11.55%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

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Current Use

Lo Vin & Co Clothing Store Worksite Insurance Services Insurance Agency Worksite Insurance Services, ... Insurance Agency

Suggested Use

Top Pick Dental Office Law Firm Pharmacy Auto Parts Store Grocery & Convenience Store Kitchen & Bath Showroom

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

100%

Occupancy

Multi-tenant

Tenancy

Location Intelligence

Trade Area within ½ mile

351

Businesses Nearby

Explore this area Business Placement

Demographics for 53565, WI

4,899

Population

2,026

Households

2.4

Avg Household Size

45

Median Age

31%

College-Educated

95%

High-School Grad

186.0 sq mi

ZIP Area

26

Density / Sq Mi

$81,362

Median Household Income

$47,060

Median Earnings

$805

Median Rent

$254,200

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

Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.

What type of property is this? Where is this mixed-use properties 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?

Mixed-use property - A leased retail space and renovated one-bedroom residence occupy separate levels in Mineral Point’s historic district.

Where is this mixed-use property located?

The property is located at 33 High Street Mineral Point, WI.

What is the asking price?

The asking price for this property is $299,900.

What are key features of this property?

This property features: 1,694‑square‑foot mixed‑use property built in 1868; Ground‑floor retail and a one‑bedroom, one‑bath apartment above; both spaces are leased; Renovations include the roof, HVAC, electrical, plumbing, and structural components