6-Bay Auto Shop with
For Sale
$600,000
400 Blackburn Street, Ripon, WI 54971
Business/Comm, Ripon, WI
Property Size6,510 SF
Lot Size0.42 Acres
Price / SF$92.17
Days on Market147
Property Features for 400 Blackburn Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
Commercial
Lot features
Business district, Near Major Highway
Directions
East on HWY 23 Right on Blackburn St building and sign on the right.
Subdivision
RIPON - C
Standard status
Active
APN
RIP161499BO48000
Size
6,510 SF
Lot size
0.42 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
6572
Amenities
showroom
office space
Building Details
Year built
1970
Number of units
2
Roof type
Composition, Membrane
Listing Agency:
Better Homes and Gardens Real Estate Special Properties
(920) 294-0122
Listed By:
Jeffrey Shadick · License #5048290
(920) 858-9786
Added: Apr 8
Changed: Aug 31
Last Checked: Sep 1 at 12:06PM
MLS# 1997102
Copyright © 2026 REALTORS® Association of South Central 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.
Located at 400 Blackburn Street in Ripon, Wisconsin, this 6,510-square-foot auto shop occupies a 0.42-acre corner parcel. The building includes six service bays, a customer-facing showroom, and dedicated office space, creating a practical layout for automotive service operations and related commercial use.
Constructed in 1970, the property has both composition and membrane roofing systems. Commercial zoning supports its existing business-oriented configuration, while the corner setting places the facility at a prominent position within the local commercial area.
Constructed in 1970, the property has both composition and membrane roofing systems. Commercial zoning supports its existing business-oriented configuration, while the corner setting places the facility at a prominent position within the local commercial area.
Key Highlights
- 6,510‑square‑foot automotive service building
- Six service bays with showroom and office areas
- 0.42‑acre corner parcel
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
$38,224
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
6.37%
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%
$764,480
$764.5K
Cap Rate 7%
$546,057
$546.1K
Cap Rate 9%
$424,711
$424.7K
Market Conditions
NOI Build-Up for 6,510 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
$58.6K $9.00/SF
− Vacancy
−$4.0K −$0.61/SF
EGI
$54.6K $8.39/SF
− OpEx
−$16.4K −$2.52/SF
NOI
$38.2K $5.87/SF
Area
Fond du Lac County, WI
Vacancy
6.80%
Lease Rate
$9.00 /SF/Yr
Expense Ratio
30.00%
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%
$764,480
Cap Rate 7%
$546,057
Cap Rate 9%
$424,711
Alternative Uses
Best Use
Industrial
$546.1K
$477.8K – $637.1K
NOI $38,224 @ 7.0% cap · market cap 6.37%
Second Best
Retail
$419.1K
$366.7K – $489.0K
NOI $29,337 @ 7.0% cap · market cap 4.89%
Theoretical Best
Multifamily LT 5
$6.27M
$5.49M – $7.32M
NOI $439,113 @ 7.0% cap · market cap 73.19%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
6
Service bays
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
494
Businesses Nearby
12k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 100%
BP
Shops & Services
6,788 visits/mo
0.1 miles
Mobil
Shops & Services
2,873 visits/mo
0.3 miles
BMO Harris Bank
Shops & Services
2,174 visits/mo
0.1 miles
Demographics for 54971, WI
10,938
Population
4,918
Households
2.2
Avg Household Size
42
Median Age
26%
College-Educated
93%
High-School Grad
110.9 sq mi
ZIP Area
99
Density / Sq Mi
$65,914
Median Household Income
$41,534
Median Earnings
$708
Median Rent
$182,800
Median Home Value
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- DIH Auto Repair — 412 E Fond du Lac St, Ripon, WI 54971
- Homan Chevrolet Service — 822 W Fond Du Lac St, Ripon, WI 54971
- Superior Auto Body & Towing — 434 E Oshkosh St, Ripon, WI 54971
- J&S Diesel Reclaim — 636 E Oshkosh St, Ripon, WI 54971
- Auto Doctor — 634 E Oshkosh St, Ripon, WI 54971
Frequently Asked Questions
What type of property is this?
Auto shop - Commercially zoned facility with showroom, service areas, and professional office space.
Where is this auto shop located?
The property is located at 400 Blackburn Street Ripon, WI.
What is the asking price?
The asking price for this property is $600,000.
What are key features of this property?
This property features: 6,510‑square‑foot automotive service building; Six service bays with showroom and office areas; 0.42‑acre corner parcel
