Building Details

Tenancy Single

Listing Agency: ParaSell Inc

Listed By: Scott Reid · License #15266 Show Phone

Source: Crexi

Added: Sep 22 Changed: Sep 24 Last Checked: Sep 24 at 2:33PM

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Investment Insights

Based on property information with market context.

The 6,618-square-foot bank property at 615 Water Street in Sauk City is occupied by BMO Bank. The current lease runs through November 2031, following the tenant’s exercise of a five-year renewal. One additional five-year option remains, and scheduled annual rent increases are part of the lease terms.

The Sauk Prairie branch is reported to hold approximately 64% of the local deposit market share. The property is offered for sale.

Key Highlights

• 6,618 SF bank property occupied by BMO Bank
• Lease extended through November 2031 after exercise of a 5‑year renewal
• One additional 5‑year lease option remains

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

$87,020

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

3.94%

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%

$1,740,400 $1.7M

Cap Rate 7%

$1,243,143 $1.2M

Cap Rate 9%

$966,889 $966.9K

Market Conditions

NOI Build-Up for 6,618 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

$119.1K $18.00/SF

− Vacancy

−$3.1K −$0.47/SF

EGI

$116.0K $17.53/SF

− OpEx

−$29.0K −$4.38/SF

NOI

$87.0K $13.15/SF

Area

Sauk County, WI

Vacancy

2.60%

Lease Rate

$18.00 /SF/Yr

Expense Ratio

25.00%

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%

$1,740,400

Cap Rate 7%

$1,243,143

Cap Rate 9%

$966,889

Alternative Uses

Best Use

Specialty Retail

$1.24M

$1.09M – $1.45M (±1% cap)

NOI $87,020 @ 7.0% cap · market cap 3.94%

Second Best

Retail

$953.0K

$833.9K – $1.11M (±1% cap)

NOI $66,709 @ 7.0% cap · market cap 3.02%

Theoretical Best

Office A

$1.34M

$1.17M – $1.56M (±1% cap)

NOI $93,774 @ 7.0% cap · market cap 4.24%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

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Current Use

BMO Bank N.A ... Bank BMO Harris Bank ... Bank

Suggested Use

Top Pick Dental Office Restaurant Law Firm Real Estate Agency Building Supply 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.

Lease Details

Single-tenant

Tenancy

Location Intelligence

Trade Area within ½ mile

351

Businesses Nearby

68k

Monthly Visits Nearby

Explore this area Business Placement

Foot Traffic Nearby

Shops & Services 71% Home Improvements & Furnishings 15% Dining 14%

Kwik Trip Shops & Services

37,611 visits/mo 0.3 miles

Niemann Ace Hardware Home Improvements & Furnishings

9,978 visits/mo 0.1 miles

Dunkin' Donuts Dining

9,759 visits/mo 0.4 miles

Family Dollar Shops & Services

6,999 visits/mo 0.4 miles

BMO Harris Bank Shops & Services

2,619 visits/mo 0.1 miles

Demographics for 53583, WI

5,787

Population

2,525

Households

2.3

Avg Household Size

44

Median Age

27%

College-Educated

95%

High-School Grad

74.6 sq mi

ZIP Area

78

Density / Sq Mi

$92,792

Median Household Income

$51,793

Median Earnings

$1,078

Median Rent

$305,200

Median Home Value

Market

Vacancy Rate% for Retail in Midwest region

8% 2020

7.3% 2021

6.5% 2022

6% 2023

5.7% 2024

6.3% 2025

Questions? Ask Rey

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What type of property is this? Where is this banks located? What is the asking price? Find similar properties What are key features of this property?

Frequently Asked Questions

What type of property is this?

Bank - BMO Bank occupies the branch under a lease with scheduled annual rent increases.

Where is this bank located?

The property is located at 615 Water Street Sauk City, WI.

What is the asking price?

The asking price for this property is $2,210,526.

What are key features of this property?

This property features: 6,618 SF bank property occupied by BMO Bank; Lease extended through November 2031 after exercise of a 5‑year renewal; One additional 5‑year lease option remains