Building Details

Year built 1900

Number of units 5

Roof type Shingle

Listing Agency: Real Broker LLC W***@TheRealBrokerage.com Show Phone

Listed By: Liz Abramsky Show Phone

Added: Aug 25 Changed: Aug 31 Last Checked: Sep 1 at 6:06AM

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MLS# 2025723

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.

This B2 Comm mixed-use property contains 2,902 square feet across two parcels totaling 0.35 acres. The building includes five occupied apartments and a separate commercial storefront. Residential space consists of two main-level units with one- and two-bedroom layouts, two second-level one-bedroom apartments, and a finished lower-level two-bedroom apartment. Each apartment has one bath, laundry equipment, and either window A/C or furnace service as specified. The storefront includes a half bath, laundry equipment, a furnace, and central A/C.

Built in 1900, the property has a shingle roof and on-site parking for residents, tenants, and customers. It is located in Dickeyville, Wisconsin, minutes from Highway 151. Showings require a minimum of 72 hours’ notice.

Key Highlights

• Five occupied rental units plus an additional commercial storefront
• 2,902 square feet on 0.35 acres across two parcels
• B2 Comm zoning in Dickeyville, WI

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

$37,514

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

8.34%

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%

$750,280 $750.3K

Cap Rate 7%

$535,914 $535.9K

Cap Rate 9%

$416,822 $416.8K

Market Conditions

NOI Build-Up for 2,902 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

$55.0K $18.96/SF

− Vacancy

−$1.4K −$0.49/SF

EGI

$53.6K $18.47/SF

− OpEx

−$16.1K −$5.54/SF

NOI

$37.5K $12.93/SF

Area

Grant County, WI

Vacancy

2.60%

Lease Rate

$18.96 /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%

$750,280

Cap Rate 7%

$535,914

Cap Rate 9%

$416,822

Alternative Uses

Best Use

Retail

$535.9K

$468.9K – $625.2K (±1% cap)

NOI $37,514 @ 7.0% cap · market cap 8.34%

Second Best

Apartment 5plus

$334.8K

$293.0K – $390.6K (±1% cap)

NOI $23,436 @ 7.0% cap · market cap 5.21%

Theoretical Best

Office A

$803.4K

$703.0K – $937.3K (±1% cap)

NOI $56,238 @ 7.0% cap · market cap 12.50%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Property Profile

Current Use

Hair Chalet Hair Salon

Suggested Use

Top Pick Auto Parts Store Storage Facility Butcher Dental Office Big Box & Wholesale Store Veterinary Clinic

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

5

Residential units

100%

Occupancy

Multi-tenant

Tenancy

Yes

Highway access

Location Intelligence

Trade Area within ½ mile

90

Businesses Nearby

Explore this area Business Placement

Demographics for 53808, WI

1,041

Population

423

Households

2.5

Avg Household Size

42

Median Age

23%

College-Educated

95%

High-School Grad

2.5 sq mi

ZIP Area

416

Density / Sq Mi

$67,500

Median Household Income

$40,441

Median Earnings

$699

Median Rent

$183,200

Median Home Value

Market

Vacancy Rate% for Multifamily in Midwest region

6.5% 2022

7.5% 2023

7.8% 2024

8% 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 - B2 Comm property combines occupied apartments, a commercial storefront, and on-site parking near Highway 151.

Where is this mixed-use property located?

The property is located at 445 W Main Street Dickeyville, WI.

What is the asking price?

The asking price for this property is $450,000.

What are key features of this property?

This property features: Five occupied rental units plus an additional commercial storefront; 2,902 square feet on 0.35 acres across two parcels; B2 Comm zoning in Dickeyville, WI