Brick Mixed-Use
For Sale
$535,000
409 Broadway, Baraboo, WI 53913
Two-level property combines configured office space with a fully leased apartment.
Property Size3,630 SF
Price / SF$147.38
Days on Market30
Property Features for 409 Broadway
General Information
Standard status
Active
Size
3,630 SF
Property subtype
Commercial
Additional Details
Multifamily Units
1
Building Details
Year Built
1900
Buildings
1
Construction
brick
Listing Agency:
First Weber Inc
Listed By:
Paula Brandt · License #8004094
(608) 235-7162
Source:
Madisonareahomesforsale
Added: Aug 10
Changed: Sep 8
Last Checked: Sep 8 at 2:31PM
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 First Weber Inc
Investment Insights
Based on property information with market context.
Built in 1900, this 3,630-square-foot brick mixed-use building pairs a professional office layout with a residential component. The main floor includes a reception area, conference room, three private offices, breakroom, and bathroom equipped with a stackable washer and dryer. Upstairs, a fully rented apartment is occupied by a long-term tenant.
The property is located in downtown Baraboo near the downtown square, with shops, restaurants, Circus World, and community events including Fair on the Square, Wine Walks, and the Christmas Light Parade nearby. Its existing office and apartment configuration supports an owner-user or investment-oriented ownership strategy, while any short-term lodging use would remain subject to applicable zoning and licensing requirements.
The property is located in downtown Baraboo near the downtown square, with shops, restaurants, Circus World, and community events including Fair on the Square, Wine Walks, and the Christmas Light Parade nearby. Its existing office and apartment configuration supports an owner-user or investment-oriented ownership strategy, while any short-term lodging use would remain subject to applicable zoning and licensing requirements.
Key Highlights
- 3,630‑square‑foot brick mixed‑use building constructed in 1900
- Main level includes reception, conference room, 3 private offices, breakroom, and bathroom
- Upper‑level apartment is fully rented to a long‑term tenant
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
$37,571
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
7.02%
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%
$751,420
$751.4K
Cap Rate 7%
$536,729
$536.7K
Cap Rate 9%
$417,456
$417.5K
Market Conditions
NOI Build-Up for 3,630 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
$65.3K $18.00/SF
− Vacancy
−$5.2K −$1.44/SF
EGI
$60.1K $16.56/SF
− OpEx
−$22.5K −$6.21/SF
NOI
$37.6K $10.35/SF
Area
Sauk County, WI
Vacancy
8.00%
Lease Rate
$18.00 /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%
$751,420
Cap Rate 7%
$536,729
Cap Rate 9%
$417,456
Alternative Uses
Best Use
Mixed Use
$536.7K
$469.6K – $626.2K
NOI $37,571 @ 7.0% cap · market cap 7.02%
Second Best
Office B
$509.7K
$446.0K – $594.6K
NOI $35,676 @ 7.0% cap · market cap 6.67%
Theoretical Best
Office A
$734.8K
$643.0K – $857.3K
NOI $51,436 @ 7.0% cap · market cap 9.61%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
742
Businesses Nearby
Explore this area
Business Placement
Demographics for 53913, WI
21,046
Population
10,444
Households
2
Avg Household Size
41
Median Age
26%
College-Educated
94%
High-School Grad
138.9 sq mi
ZIP Area
152
Density / Sq Mi
$73,856
Median Household Income
$44,261
Median Earnings
$951
Median Rent
$214,500
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 - Two-level property combines configured office space with a fully leased apartment.
Where is this mixed-use property located?
The property is located at 409 Broadway Baraboo, WI.
What is the asking price?
The asking price for this property is $535,000.
What are key features of this property?
This property features: 3,630‑square‑foot brick mixed‑use building constructed in 1900; Main level includes reception, conference room, 3 private offices, breakroom, and bathroom; Upper‑level apartment is fully rented to a long‑term tenant
