Retail Condo Building on City
For Sale
$3,570,000
601 Genesee Street, Delafield, WI 53018
Ground-floor retail condo property with six tenant spaces within a mixed-use downtown development.
Property Size13,777 SF
Price / SF$259.13
Days on Market99
Property Features for 601 Genesee Street
General Information
Standard status
Active
Size
13,777 SF
Property subtype
Retail
Additional Details
Multifamily Units
16
Building Details
Building Size
13,777 SF
Year Built
2006
Listing Agency:
Mid America Real Estate Milwaukee
Listed By:
Dan Rosenfeld · License #55452
(414) 617-8682
Source:
Midamericagrp
Added: Jun 29
Changed: Sep 6
Last Checked: Oct 4 at 7:22AM
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 Mid America Real Estate Milwaukee
Investment Insights
Based on property information with market context.
Delafield Square is a mixed-use development with a dedicated retail condo component, built in 2006. The offering includes 13,777 square feet of ground-floor retail space configured as six-unit retail condominiums. The property sits within a larger development that also includes sixteen multi-family condominiums, creating a built-in residential customer base within the same project.
The development occupies a full city block at 601 Genesee Street in downtown Delafield. As a downtown retail project with multiple specialty retailers, the retail portion is positioned as part of the surrounding streetscape and day-to-day pedestrian activity.
For tenants and investors seeking a retail condo structure, this property provides separate, ground-level retail space in a newer, purpose-built downtown environment. The asset is designed to support specialty retail uses within a mixed-use setting, offering straightforward ownership of retail units alongside the adjacent residential condominiums.
The development occupies a full city block at 601 Genesee Street in downtown Delafield. As a downtown retail project with multiple specialty retailers, the retail portion is positioned as part of the surrounding streetscape and day-to-day pedestrian activity.
For tenants and investors seeking a retail condo structure, this property provides separate, ground-level retail space in a newer, purpose-built downtown environment. The asset is designed to support specialty retail uses within a mixed-use setting, offering straightforward ownership of retail units alongside the adjacent residential condominiums.
Key Highlights
- 13,777 SF ground‑floor retail condo with six tenant spaces in a mixed‑use downtown development
- Built in 2006; part of Delafield Square residential and retail development on a full city block
- Delafield Square includes six specialty retailers and sixteen multi‑family condominiums
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$195,231
Cap Rate
5.47%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,904,620
$3.9M
Cap Rate 7%
$2,789,014
$2.8M
Cap Rate 9%
$2,169,233
$2.2M
Market Conditions
NOI Build-Up for 13,777 SF
Gross rent
$289.3K $21.00/SF
− Vacancy
−$10.4K −$0.76/SF
EGI
$278.9K $20.24/SF
− OpEx
−$83.7K −$6.07/SF
NOI
$195.2K $14.17/SF
Area
Waukesha County, WI
Vacancy
3.60%
Lease Rate
$21.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,904,620
Cap Rate 7%
$2,789,014
Cap Rate 9%
$2,169,233
Alternative Uses
Best Use
Retail
$2.79M
$2.44M – $3.25M
NOI $195,231 @ 7.0% cap · market cap 5.47%
Second Best
Apartment 5plus
$2.09M
$1.83M – $2.44M
NOI $146,343 @ 7.0% cap · market cap 4.10%
Theoretical Best
Flex RnD
$7.03M
$6.15M – $8.20M
NOI $492,196 @ 7.0% cap · market cap 13.79%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Lease Details
16
Residential units
Location Intelligence
Trade Area within ½ mile
476
Businesses Nearby
Explore this area
Business Placement
Demographics for 53018, WI
7,396
Population
3,431
Households
2.2
Avg Household Size
49
Median Age
54%
College-Educated
99%
High-School Grad
11.2 sq mi
ZIP Area
660
Density / Sq Mi
$130,511
Median Household Income
$62,037
Median Earnings
$1,492
Median Rent
$485,200
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Retail space - Ground-floor retail condo property with six tenant spaces within a mixed-use downtown development.
Where is this retail space located?
The property is located at 601 Genesee Street Delafield, WI.
What is the asking price?
The asking price for this property is $3,570,000.
What are key features of this property?
This property features: 13,777 SF ground‑floor retail condo with six tenant spaces in a mixed‑use downtown development; Built in 2006; part of Delafield Square residential and retail development on a full city block; Delafield Square includes six specialty retailers and sixteen multi‑family condominiums
