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    245 Concord Ave Watertown, WI 53094

    Sponsored
    For Sale
    $445,000

    Historic building, prime for condo conversion.

    Property size:
    13,161 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    This exceptional 13,161 square foot, four-story building located at 245 South Concord Avenue in Watertown, Wisconsin, presents a unique investment opportunity. Currently configured as a garage/parking facility with ten units, this historic power house boasts 24-foot ceilings and sits on a 0.93-acre lot (4,051,080 square feet). The asking price is $445,000, translating to $33.81 per square foot. The land value alone is estimated at $0.11 per square foot. The property features convenient in-and-out driveway access. Importantly, state-approved architectural plans for conversion into ten high-end condo units are included in the sale. This prime location is adjacent to the city's upper dam, offering stunning views and a unique historical context. An easement grants the city access to the dam. This property is ideal for developers seeking a high-impact project with significant upside potential in a desirable Wisconsin location. The property's rich history and prime location combine to create a truly exceptional investment opportunity. The building's substantial size and unique features make it an ideal candidate for a luxury condo conversion, capitalizing on the growing demand for upscale urban living. The included architectural plans streamline the development process, minimizing potential delays and maximizing return on investment.

    Property Features for 245 Concord Ave

    General Information

    Property type
    Automotive properties
    Square Feet
    13,161 SF
    Lot Size
    40,511 SF

    Building Details

    Stories
    4
    Units
    10

    HighLights

    • Historic Power House adjacent to City Upper Dam.
    • Approved plans for 10 condo units.
    • Convenient driveway access.
    • City easement for dam access.
    • 4,051,080 square foot lot.
    Property Profile Location Intelligence

    Current Use by Public Records

    Watertown Dam 2 Park

    Suggested Use

    Restaurant Realty agency Law Firm Building Supply Spa & Massage Dental Office Wholesale Shop Auto Repair Shop Hair Salon Clothing Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Watertown
    County
    Jefferson
    State
    Wisconsin
    Longitude
    -88.7061313
    Latitude
    43.1853495

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    FAQs

    What type of property is this?
    Automotive property - Historic building, prime for condo conversion.
    Where is this automotive property located?
    The property is located at 245 Concord Ave Watertown, WI.
    What is the asking price?
    The asking price for this property is $445,000.
    What are key features of this property?
    This property features: Historic Power House adjacent to City Upper Dam.; Approved plans for 10 condo units.; Convenient driveway access.
    Request Owner's contact information
    245 Concord Ave Watertown, WI 53094
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    Watertown, WI 53094
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    Realmo Value Estimation

    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.

    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.

    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
    245 Concord Ave Watertown, WI 53094
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