Building Details

Year Built 1902

Stories 4

Construction Queen Anne

Listing Agency: Klodowski Real Estate

Listed By: Kristine Klodowski · License #27101 Show Phone

Source: Madisonareahomesforsale

Added: Dec 3, 2025 Changed: Oct 19 Last Checked: Oct 19 at 6:54AM

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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 Klodowski Real Estate

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Investment Insights

Based on property information with market context.

Built in 1902, this Queen Anne property combines renewed interiors with period architectural character across four floors and over 6,000 square feet. The layout includes six guest suites, seven fireplaces, a library, formal dining room, foyer, living room, kitchen, third-floor guest quarters, and a speakeasy-style lower level. Welcoming porches and a rare carriage house/garage add to the property’s physical appeal.

The estate occupies .63 acres with manicured grounds and offers a setting suited to continued bed-and-breakfast operations, corporate retreats, weddings, and group events. Its combination of guest accommodations, gathering rooms, outdoor areas, and distinctive historic details supports multiple hospitality and event-oriented uses.

Key Highlights

• 1902 Queen Anne property renewed while retaining historic architectural character
• Over 6,000 sq. ft. arranged across four floors
• Six guest suites and seven fireplaces

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$40,304

Cap Rate

3.10%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$806,080 $806.1K

Cap Rate 7%

$575,771 $575.8K

Cap Rate 9%

$447,822 $447.8K

Is this asking price fair?

Market Conditions

NOI Build-Up for 6,655 SF

Gross rent

$99.8K $15.00/SF

− Vacancy

−$15.0K −$2.25/SF

EGI

$84.9K $12.75/SF

− OpEx

−$44.5K −$6.69/SF

NOI

$40.3K $6.06/SF

Area

Dodge County, WI

Vacancy

15.00%

Lease Rate

$15.00 /SF/Yr

Expense Ratio

52.50%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$806,080

Cap Rate 7%

$575,771

Cap Rate 9%

$447,822

Alternative Uses

Best Use

Hotel Hospitality

$575.8K

$503.8K – $671.7K (±1% cap)

NOI $40,304 @ 7.0% cap · market cap 3.10%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$1.45M

$1.26M – $1.69M (±1% cap)

NOI $101,199 @ 7.0% cap · market cap 7.78%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Honeybee Inn Bed ... Bed & Breakfast

Suggested Use

Top Pick Real Estate Agency Law Firm Building Supply HVAC Service Spa & Massage Center Big Box & Wholesale Store

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

158

Businesses Nearby

Under-served

Demand for This Use

Explore this area Business Placement

Demographics for 53032, WI

4,933

Population

2,372

Households

2.1

Avg Household Size

43

Median Age

16%

College-Educated

94%

High-School Grad

29.6 sq mi

ZIP Area

167

Density / Sq Mi

$53,564

Median Household Income

$38,041

Median Earnings

$835

Median Rent

$174,200

Median Home Value

Similar Off Market Nearby

• Honeybee Inn Bed & Breakfast — 611 E Walnut St, Horicon, WI 53032

Frequently Asked Questions

What type of property is this?

Bed & breakfast - Renewed guest accommodations include formal entertaining rooms, a library, porches, and a carriage house.

Where is this bed & breakfast located?

The property is located at 611 E Walnut Horicon, WI.

What is the asking price?

The asking price for this property is $1,300,000.

What are key features of this property?

This property features: 1902 Queen Anne property renewed while retaining historic architectural character; Over 6,000 sq. ft. arranged across four floors; Six guest suites and seven fireplaces