Mixed-Use Property with Pole
New
For Sale
$700,000
534 Chicago Street, Milton, WI 53563
Business/Comm, Milton, WI
Property Size2,880 SF
Lot Size1.45 Acres
Price / SF$243.06
Days on Market1
Property Features for 534 Chicago Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
Commercial
Directions
WI-Hwy 59 Business, N onto Sunnyside Dr, continue onto Chicago St (driveway entrance off of E High St)
Subdivision
MILTON - C
Standard status
Active
APN
V-23-1221.2
Size
2,880 SF
Lot size
1.45 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
2699
Building Details
Year built
1984
Number of units
1
Roof type
Metal
Listing Agency:
Realty Executives Cooper Spransy · Realty Executives International
(608) 661-7900
Listed By:
Ashley Nelson · License #8117794
(608) 931-3317
Added: Sep 6
Last Checked: Sep 6 at 7:06PM
MLS# 2032103
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 mixed-use offering includes a 1.45-acre commercial parcel with a 40' x 72' pole building, along with the adjacent residential property at 1015 E Hight St. The commercial parcel is zoned Commercial, and the building dates to 1984 with a metal roof.
The residential component contains 1,276 square feet with two bedrooms and two bathrooms. Improvements include a newer roof and some updated windows. The full package is offered as-is and is located near the Business Park District in Milton, Wisconsin.
The commercial parcel is identified at 534 Chicago Street, Milton, WI 53563. The tax information provided applies only to the commercial parcel.
The residential component contains 1,276 square feet with two bedrooms and two bathrooms. Improvements include a newer roof and some updated windows. The full package is offered as-is and is located near the Business Park District in Milton, Wisconsin.
The commercial parcel is identified at 534 Chicago Street, Milton, WI 53563. The tax information provided applies only to the commercial parcel.
Key Highlights
- 1.45‑acre commercial parcel with a 40' x 72' pole building
- Commercial zoning
- Adjacent residence at 1015 E Hight St included in the package
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
—
—
no second resolved use
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
Property Profile
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
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Commercially zoned acreage paired with an adjacent two-bedroom residence creates a combined work-and-living property.
Where is this mixed-use property located?
The property is located at 534 Chicago Street 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 with a 40' x 72' pole building; Commercial zoning; Adjacent residence at 1015 E Hight St included in the package
