Redevelopment Opportunity in Elkhorn,
For Sale
$1,567,000
720 N Wisconsin St, Elkhorn, WI 53121
13,702 sq ft commercial property on 3.57 acres.
Property Size13,702 SF
Lot Size3.57 Acres
Price / SF$114.36
Days on Market212
Property Features for 720 N Wisconsin St
General Information
Standard status
Active
Size
13,702 SF
Lot size
3.57 Acres
Building Details
Year Built
1963
Listing Agency:
Real Broker LLC
Listed By:
Sean Levitt · License #58425-90
(262) 960-2899
Source:
Jwregwi
Added: Mar 26
Changed: Oct 2
Last Checked: Oct 7 at 5:33PM
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 Broker LLC
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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
Estimated NOI and Cap Rate
NOI / Yr
$114,360
Cap Rate
7.30%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,287,200
$2.3M
Cap Rate 7%
$1,633,714
$1.6M
Cap Rate 9%
$1,270,667
$1.3M
Market Conditions
NOI Build-Up for 13,702 SF
Gross rent
$177.6K $12.96/SF
− Vacancy
−$14.2K −$1.04/SF
EGI
$163.4K $11.92/SF
− OpEx
−$49.0K −$3.58/SF
NOI
$114.4K $8.35/SF
Area
Walworth County, WI
Vacancy
8.00%
Lease Rate
$12.96 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,287,200
Cap Rate 7%
$1,633,714
Cap Rate 9%
$1,270,667
Alternative Uses
Best Use
Retail
$1.63M
$1.43M – $1.91M
NOI $114,360 @ 7.0% cap · market cap 7.30%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$2.64M
$2.31M – $3.09M
NOI $185,100 @ 7.0% cap · market cap 11.81%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
220
Businesses Nearby
7k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 80%
Shops & Services 20%
Taco Bell
Dining
5,713 visits/mo
0.4 miles
Super Wash
Shops & Services
1,440 visits/mo
0.3 miles
Demographics for 53121, WI
19,222
Population
8,397
Households
2.3
Avg Household Size
42
Median Age
33%
College-Educated
94%
High-School Grad
114.4 sq mi
ZIP Area
168
Density / Sq Mi
$83,635
Median Household Income
$45,112
Median Earnings
$1,031
Median Rent
$287,900
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Retail in Midwest region
Frequently Asked Questions
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 $1,567,000.
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.
