Redevelopment Opportunity in Elkhorn,
720 N Wisconsin St Elkhorn, WI 53121
For Sale
Contact for pricing
13,702 sq ft commercial property on 3.57 acres.
Property Size13,702 SF
Lot Size3.57 Acres
Price / SF$117.43
Days on Market1544
Property Features for 720 N Wisconsin St
General Information
- Standard status
- Active
- Size
- 13,702 SF
- Lot size
- 3.57 Acres
- Property subtype
- Retail
Listing Agency:
Real Brokerage
Listed By:
Sean Levitt · License #WI 90-58425
Source:
Crexi
Added: May 3, 2022
Changed: Jul 10
Last Checked: Jul 23 at 6:06AM
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 Real Brokerage
Investment Insights
Based on property information with market context.
This commercial property, situated on 3.57 acres in Elkhorn, Wisconsin, encompasses 13,702 square feet and presents a redevelopment opportunity. The site, formerly a restaurant and banquet hall, includes a bar, a dining room, and a banquet space capable of accommodating 350 people, complete with a separate entrance. The property benefits from its location on high-traffic Highway 67, in close proximity to Highway 12. Zoned B-2, the site provides 197 parking spaces and includes a partial basement. This property is ready for redevelopment.
Key Highlights
- High‑traffic location on Hwy 67 near Hwy 12.
- Large 13,702 sq ft building on 3.57 acres.
- B‑2 zoning offers redevelopment opportunities.
Financial Insights For Retail
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $177.6k | $12.96 |
| − Vacancy | −$14.2k | −$1.04 |
| EGI | $163.4k | $11.92 |
| − OpEx | −$49.0k | −$3.58 |
| NOI | $114.4k | $8.35 |
13,702 SF · lease $12.96/SF/yr · vacancy 8.00% · expense 30.00%
Alternative Uses
Best Use
Retail
$1.63M
$1.43M – $1.91M
NOI $114,360 @ 7.0% cap · market cap 7.11%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$2.64M
$2.31M – $3.09M
NOI $185,100 @ 7.0% cap · market cap 11.50%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Sperino's Monte Carlo ...
Wedding Service
Sperino's
Restaurant
FAQs
What type of property is this?
Retail property - 13,702 sq ft commercial property on 3.57 acres.
Where is this retail property located?
The property is located at 720 N Wisconsin St Elkhorn, WI.
What is the asking price?
The asking price for this property is $1,609,000.
What are key features of this property?
This property features: High‑traffic location on Hwy 67 near Hwy 12.; Large 13,702 sq ft building on 3.57 acres.; B‑2 zoning offers redevelopment opportunities.
