Mixed-Use Property with Pole
For Sale
$700,000
534 Chicago, Milton, WI 53563
Commercial acreage is paired with an adjacent residential home for combined work and living use.
Property Size2,880 SF
Lot Size1.45 Acres
Price / SF$243.06
Days on Market10
Property Features for 534 Chicago
General Information
Standard status
Active
Size
2,880 SF
Lot size
1.45 Acres
Property subtype
Commercial
Additional Details
Land Use
commercial, residential
Building Details
Year Built
1984
Buildings
1
Building Size
2,880 SF
Construction
pole building
Listing Agency:
Realty Executives Cooper Spransy
Listed By:
Ashley Nelson · License #8117794
(608) 931-3317
Source:
Madisonareahomelistings
Added: Sep 2
Changed: Sep 10
Last Checked: Sep 10 at 10:00AM
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 Realty Executives Cooper Spransy
Investment Insights
Based on property information with market context.
This mixed-use package includes a 1.45-acre commercial parcel improved with a 40-by-72-foot pole building. The building contains 2,880 square feet and dates to 1984, providing a substantial existing structure on the commercial site.
The offering also includes the neighboring residence at 1015 E Hight St. The 1,276-square-foot home has two bedrooms and two bathrooms, along with a newer roof and some updated windows. The commercial parcel is positioned near the Business Park District, and the property package is offered as-is.
The offering also includes the neighboring residence at 1015 E Hight St. The 1,276-square-foot home has two bedrooms and two bathrooms, along with a newer roof and some updated windows. The commercial parcel is positioned near the Business Park District, and the property package is offered as-is.
Key Highlights
- 1.45‑acre commercial parcel
- 40‑by‑72‑foot pole building with 2,880 square feet
- Pole building dates to 1984
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
$19,872
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
2.84%
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%
$397,440
$397.4K
Cap Rate 7%
$283,886
$283.9K
Cap Rate 9%
$220,800
$220.8K
Market Conditions
NOI Build-Up for 2,880 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
$34.6K $12.00/SF
− Vacancy
−$2.8K −$0.96/SF
EGI
$31.8K $11.04/SF
− OpEx
−$11.9K −$4.14/SF
NOI
$19.9K $6.90/SF
Area
Rock County, WI
Vacancy
8.00%
Lease Rate
$12.00 /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%
$397,440
Cap Rate 7%
$283,886
Cap Rate 9%
$220,800
Alternative Uses
Best Use
Mixed Use
$283.9K
$248.4K – $331.2K
NOI $19,872 @ 7.0% cap · market cap 2.84%
Second Best
Warehouse
$129.8K
$113.6K – $151.5K
NOI $9,089 @ 7.0% cap · market cap 1.30%
Theoretical Best
Office A
$692.1K
$605.6K – $807.4K
NOI $48,446 @ 7.0% cap · market cap 6.92%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
228
Businesses Nearby
Explore this area
Business Placement
Demographics for 53563, WI
11,503
Population
4,672
Households
2.5
Avg Household Size
42
Median Age
31%
College-Educated
96%
High-School Grad
67.0 sq mi
ZIP Area
172
Density / Sq Mi
$89,397
Median Household Income
$47,742
Median Earnings
$972
Median Rent
$270,800
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Industrial in Midwest region
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Commercial acreage is paired with an adjacent residential home for combined work and living use.
Where is this mixed-use property located?
The property is located at 534 Chicago Milton, WI.
What is the asking price?
The asking price for this property is $700,000.
What are key features of this property?
This property features: 1.45‑acre commercial parcel; 40‑by‑72‑foot pole building with 2,880 square feet; Pole building dates to 1984
