Live-Work Space with Heated
For Sale
$399,000
359 W Elm Street, New Auburn, WI 54757
CommercialSale, New Auburn, WI
Property Size4,334 SF
Lot Size0.80 Acres
Price / SF$92.06
Days on Market102
Property Features for 359 W Elm Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
Commercial
Elementary school district
New Auburn
Middle school district
New Auburn
High school district
New Auburn
Directions
Take HWY 53 south to New Auburn Exit Take W main Street to left on N Columbia Street to left on W Elm Street Property on left
Standard status
Active
APN
23110-0211076174004
Size
4,334 SF
Lot size
0.80 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
LOT 4 OF CERT SUR MAP #6174 IN V31 P288 DOC #963422 NEW PARCEL FOR 20
Tax Annual Amount
5500
Legal Description
LOT 4 OF CERT SUR MAP #6174 IN V31 P288 DOC #963422 NEW PARCEL FOR 20
Utilities
Sewer type
Public Sewer
Heating system
Forced Air, Radiant, Radiant Floor
Cooling system
Central Air
Water source
Public
Amenities
in-floor heat
forced air
central air conditioning
attached heated garage
workshop space
two-way fireplace
spa-like bathroom
walk-in shower
soaking tub
large kitchen
living area
Building Details
Year built
2022
Building materials
VinylSiding
Listing Agency:
Real Estate Solutions
(715) 719-0555
Listed By:
Casey Watters · License #52542-90
(715) 434-7904
Added: May 11
Changed: Aug 19
Last Checked: Aug 20 at 1:06AM
MLS# 1600911
Copyright © 2026 REALTORS® Association of Northwestern Wisconsin. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This live-work space offers flexible commercial area alongside private living quarters. The layout includes a spacious bedroom with a two-way fireplace, a tiled spa-like bathroom with a huge walk-in shower and soaking tub, and a large kitchen and comfortable living area. Additional office or retail space is available on both ends of the building, providing room for multiple businesses or uses.
The property is located in New Auburn with easy access just off U.S. Highway 53 and Main Street. Snowmobile trails run directly in front of the property, supporting opportunities that benefit from seasonal activity.
Construction includes vinyl siding, and the home is supported by public water and public sewer. Heating includes forced air and radiant floor heat, along with central air conditioning for year-round comfort. Built in 2022, the attached heated 1-car garage also includes workshop space for storage, projects, or business needs.
The property is located in New Auburn with easy access just off U.S. Highway 53 and Main Street. Snowmobile trails run directly in front of the property, supporting opportunities that benefit from seasonal activity.
Construction includes vinyl siding, and the home is supported by public water and public sewer. Heating includes forced air and radiant floor heat, along with central air conditioning for year-round comfort. Built in 2022, the attached heated 1-car garage also includes workshop space for storage, projects, or business needs.
Key Highlights
- 4,334 SF live‑work space with private living quarters plus office or retail space on both ends
- 0.8‑acre lot size
- Built in 2022 with vinyl siding
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
$32,609
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
8.17%
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%
$652,180
$652.2K
Cap Rate 7%
$465,843
$465.8K
Cap Rate 9%
$362,322
$362.3K
Market Conditions
NOI Build-Up for 4,334 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
$62.4K $14.40/SF
− Vacancy
−$3.1K −$0.72/SF
EGI
$59.3K $13.68/SF
− OpEx
−$26.7K −$6.16/SF
NOI
$32.6K $7.52/SF
Area
Chippewa County, WI
Vacancy
5.00%
Lease Rate
$14.40 /SF/Yr
Expense Ratio
45.00%
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%
$652,180
Cap Rate 7%
$465,843
Cap Rate 9%
$362,322
Alternative Uses
Best Use
Mixed Use
$626.9K
$548.5K – $731.4K
NOI $43,882 @ 7.0% cap · market cap 11.00%
Second Best
Office B
$618.8K
$541.5K – $722.0K
NOI $43,318 @ 7.0% cap · market cap 10.86%
Theoretical Best
Warehouse
$2.41M
$2.11M – $2.81M
NOI $168,427 @ 7.0% cap · market cap 42.21%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
67
Businesses Nearby
Explore this area
Business Placement
Demographics for 54757, WI
3,523
Population
2,207
Households
1.6
Avg Household Size
45
Median Age
22%
College-Educated
92%
High-School Grad
155.5 sq mi
ZIP Area
23
Density / Sq Mi
$66,500
Median Household Income
$39,693
Median Earnings
$898
Median Rent
$216,000
Median Home Value
Market
Vacancy Rate% for Office in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Live-work space - Live-work property with private quarters, central air, and an attached heated one-car garage.
Where is this live-work space located?
The property is located at 359 W Elm Street New Auburn, WI.
What is the asking price?
The asking price for this property is $399,000.
What are key features of this property?
This property features: 4,334 SF live‑work space with private living quarters plus office or retail space on both ends; 0.8‑acre lot size; Built in 2022 with vinyl siding
