Historic Mixed-Use Building
423 Main St La Crosse, WI 54601
423 Main St, La Crosse, WI, 54601
$1,150,000
For Sale
$1,150,000
Historic 1880 mixed-use property with leased street-level storefronts and four apartments above.
Property Size9,000 SF
Price / SF$127.78
Days on Market161
Property Features for 423 Main St
General Information
- Standard status
- Active
- Size
- 9,000 SF
Listing Agency
United Country Midwest Lifestyle Properties LLC
(262) 442-2787
Listed by
Joshua Genz · License #76296-94
(262) 442-2787
Source
Exprealty
Added: Feb 9 Checked: Jul 19 at 2:26 am
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 United Country Midwest Lifestyle Properties LLC
Investment Insights
Based on property information with market context.
This for-sale mixed-use package includes historic buildings built in 1880 at 423/425 and 427 Main St. The property features multiple street-level storefront spaces that are currently leased to long-term business tenants. Above the retail, there are four residential units, including two two-bedroom apartments, one studio, and one one-bedroom apartment. The upper-level apartments are described as well maintained and include exposed brick.
All units are leased, and the offering is presented as a turnkey arrangement. The buildings are located in downtown La Crosse, with convenient proximity to dining, events, and the downtown business core.
For buyers, the seller notes that leases will be reviewed and income confirmed as part of the acquisition process. The portfolio combines active street-level tenancy with four residential units in the same historic structure(s).
All units are leased, and the offering is presented as a turnkey arrangement. The buildings are located in downtown La Crosse, with convenient proximity to dining, events, and the downtown business core.
For buyers, the seller notes that leases will be reviewed and income confirmed as part of the acquisition process. The portfolio combines active street-level tenancy with four residential units in the same historic structure(s).
Key Highlights
- Historic mixed‑use property built in 1880 with 423/425 and 427 Main St offered together
- Multiple street‑level storefronts leased to long‑term business tenants
- Four apartments above: two 2‑bedroom units, one studio, and one 1‑bedroom unit
Local Financial Insights For Retail
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $135.0k | $15.00 |
| − Vacancy | −$5.7k | −$0.63 |
| EGI | $129.3k | $14.37 |
| − OpEx | −$38.8k | −$4.31 |
| NOI | $90.5k | $10.06 |
9,000 SF · lease $15.00/SF/yr · vacancy 4.20% · expense 30.00%
Alternative Uses
Best Use
Retail
$1.29M
$1.13M – $1.51M
NOI $90,531 @ 7.0% cap · market cap 7.87%
Second Best
Multifamily LT 5
$1.16M
$1.02M – $1.35M
NOI $81,289 @ 7.0% cap · market cap 7.07%
Theoretical Best
Specialty Retail
$1.97M
$1.72M – $2.30M
NOI $137,781 @ 7.0% cap · market cap 11.98%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
River City Hobbies
(Bike/Boat/Book/etc) Store
Similar For Sale Nearby
FAQs
What type of property is this?
Mixed-use property - Historic 1880 mixed-use property with leased street-level storefronts and four apartments above.
Where is this mixed-use property located?
The property is located at 423 Main St La Crosse, WI.
What is the asking price?
The asking price for this property is $1,150,000.
What are key features of this property?
This property features: Historic mixed‑use property built in 1880 with 423/425 and 427 Main St offered together; Multiple street‑level storefronts leased to long‑term business tenants; Four apartments above: two 2‑bedroom units, one studio, and one 1‑bedroom unit
