Mixed-Use Property with
For Sale
$1,125,000
804 N Main, Lake Mills, WI 53551
Existing 1985-built improvements accompany the land at this Main Street commercial address.
Property Size10,565 SF
Price / SF$106.48
Days on Market431
Property Features for 804 N Main
General Information
Standard status
Active
Size
10,565 SF
Property subtype
Commercial
Building Details
Year Built
1985
Listing Agency:
EXIT Realty HGM
Listed By:
Jill Sweeney · License #8707694
(920) 342-0224
Source:
Madisonareahomesforsale
Added: Jun 30, 2025
Changed: Sep 2
Last Checked: Sep 1 at 8:05PM
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 EXIT Realty HGM
Investment Insights
Based on property information with market context.
This mixed-use property combines an existing building with accompanying land at 804 N Main in Lake Mills, Wisconsin. The building was constructed in 1985, providing an established improvement within the overall property rather than a land-only offering.
The site is positioned on Main Street near downtown Lake Mills, with the surrounding area described as including established neighborhoods and active local businesses. The property information also identifies access to major routes and a walkable setting, while the land component adds flexibility for evaluating future commercial use or redevelopment.
The site is positioned on Main Street near downtown Lake Mills, with the surrounding area described as including established neighborhoods and active local businesses. The property information also identifies access to major routes and a walkable setting, while the land component adds flexibility for evaluating future commercial use or redevelopment.
Key Highlights
- Mixed‑use property includes both an existing building and land
- 1985 construction year
- 804 N Main address in Lake Mills, WI 53551
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
$90,648
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
8.06%
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%
$1,812,960
$1.8M
Cap Rate 7%
$1,294,971
$1.3M
Cap Rate 9%
$1,007,200
$1.0M
Market Conditions
NOI Build-Up for 10,565 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
$164.8K $15.60/SF
− Vacancy
−$19.8K −$1.87/SF
EGI
$145.0K $13.73/SF
− OpEx
−$54.4K −$5.15/SF
NOI
$90.6K $8.58/SF
Area
Jefferson County, WI
Vacancy
12.00%
Lease Rate
$15.60 /SF/Yr
Expense Ratio
37.50%
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%
$1,812,960
Cap Rate 7%
$1,294,971
Cap Rate 9%
$1,007,200
Alternative Uses
Best Use
Mixed Use
$1.29M
$1.13M – $1.51M
NOI $90,648 @ 7.0% cap · market cap 8.06%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.48M
$2.17M – $2.89M
NOI $173,587 @ 7.0% cap · market cap 15.43%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
312
Businesses Nearby
Explore this area
Business Placement
Demographics for 53551, WI
8,920
Population
4,048
Households
2.2
Avg Household Size
41
Median Age
45%
College-Educated
96%
High-School Grad
39.6 sq mi
ZIP Area
225
Density / Sq Mi
$89,841
Median Household Income
$53,503
Median Earnings
$1,089
Median Rent
$322,700
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Existing 1985-built improvements accompany the land at this Main Street commercial address.
Where is this mixed-use property located?
The property is located at 804 N Main Lake Mills, WI.
What is the asking price?
The asking price for this property is $1,125,000.
What are key features of this property?
This property features: Mixed‑use property includes both an existing building and land; 1985 construction year; 804 N Main address in Lake Mills, WI 53551
