Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    245 S Concord Ave Watertown, WI 53094

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Sale
    Contact for pricing

    Four-story historic building with approved condo renovation plans.

    Type:Special Purpose
    Property size:
    13,161 SF
    Added:
    May 1, 2022
    Days on Market:
    1449
    Last Refresh:
    Mar 17 at 1:23 pm

    Property Features for 245 S Concord Ave

    General Information

    Standard status
    Active
    Size
    13,161 SF
    Property subtype
    Special Purpose

    Building Details

    Year Built
    1891

    We can help!

    Listing Contact
    Ryan Wagner

    Listing agent Ryan Wagner License #WI090192838

    Listing office Blackdeer Investment Group

    Listing date May 1, 2022

    Source Crexi

    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 Blackdeer Investment Group

    Overview

    Historic Power House Renovation Project

    This is a historic four-story power house located in Watertown. The building features 24-foot ceilings. Included in the sale are state-approved architectural plans for renovating the property into 10 condominium units. The building has a size of 13,161 square feet and is suitable for renovation into high-end condos.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Watertown Dam 2 Park

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Watertown
    County
    Dodge
    State
    Wisconsin
    Longitude
    -88.7059094
    Latitude
    43.1852958

    Nearby Similar for Sale

    • $550,000

      Turnkey Gas Station/Automotive Repair Facility

      Well-maintained gas station and auto repair in Watertown, Wisconsin.
      1021 S 3rd Street, Watertown, WI 53094
      View Details
    • $509,900

      Watertown Triplex with Remodeled Units

      Income-producing triplex with renovated units in a desirable neighborhood.
      222 Margaret St, Watertown, WI 53098
      View Details
    • $2,800,000
      1,180 SF

      New Retail Space For Rent

      New construction retail space with high traffic and strong demographics.
      605 S Church St, Watertown, WI
      View Details
    • Contact for pricing
      2 SF

      Restaurant Opportunity with Drive-Thru

      Restaurant with drive-thru, built in 1987, with 19 parking stalls.
      1212 Utah Street | Watertown, WI 53094, WI 53094
      View Details
    • $1,300,000

      Mixed-Use Property with Income Potential

      Mixed-use property featuring event hall, commercial kitchen, retail, and apartments.
      107-111 South 2nd Street, Watertown, WI 53094
      View Details
    • $1,300,000
      10,530 SF

      Mixed-Use Property with Income Potential

      Mixed-use property featuring residential, retail, and event spaces.
      107-111 S 2nd St, Watertown, WI
      View Details
    • $2,390,000
      28,500 SF

      Multi-Tenant Commercial Mall For Sale

      Multi-tenant commercial mall with office building and restaurant space.
      210 S Water St, Watertown, WI 53094
      View Details
    • $499,000
      2,108 SF

      Full-Service Car Wash For Sale

      Full-service car wash with pet washing stations in Watertown, WI.
      100 Stimpson St, Watertown, WI 53094
      View Details
    • Contact for pricing
      2,563 SF

      Watertown Retail Space Available

      2,563 SF retail space for sale in Watertown, WI.
      1212 Utah St, Watertown, WI 53094
      View Details

    FAQs

    What type of property is this?
    Apartment building - Four-story historic building with approved condo renovation plans.
    Where is this apartment building located?
    The property is located at 245 S Concord Ave Watertown, WI.
    What is the asking price?
    The asking price for this property is $400,000.
    What are key features of this property?
    This property features: State approved architectural plans for 10 condo units included; Historic power house building; Perfect for high end condo renovation
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Ryan Wagner
    Real Estate License ID: WI090192838
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!