Historic Mixed-Use
For Sale
$499,900
N2349 Wibu, Arlington, WI 53955
Two-level configuration combines former radio-station space, a residence, and a full basement.
Property Size2,707 SF
Price / SF$184.67
Days on Market26
Property Features for N2349 Wibu
General Information
Standard status
Active
Size
2,707 SF
Property subtype
Commercial
Building Details
Year Built
1948
Listing Agency:
Madcityhomes.Com
(608) 438-3150
Listed By:
Stuart Meland · License #5124290
Source:
Madisonareahomelistings
Added: Aug 7
Changed: Aug 31
Last Checked: Aug 31 at 5:22PM
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 Madcityhomes.Com
Investment Insights
Based on property information with market context.
Built in 1948, the property contains a two-story structure with a former radio station on the lower level and a residence above. The full basement has large windows and was previously finished. The building requires extensive cosmetic renovation, while its unusual exterior was designed to resemble the bow of a cruise ship.
The structure sits on a high hill at N2349 Wibu in Arlington, Wisconsin, with views of the Baraboo Bluffs. The property encompasses 2.76 acres, offering an existing building along with the option to remove the improvements and pursue a new site plan. Its mixed-use history and residential component provide a basis for evaluating multiple redevelopment or renovation approaches.
The structure sits on a high hill at N2349 Wibu in Arlington, Wisconsin, with views of the Baraboo Bluffs. The property encompasses 2.76 acres, offering an existing building along with the option to remove the improvements and pursue a new site plan. Its mixed-use history and residential component provide a basis for evaluating multiple redevelopment or renovation approaches.
Key Highlights
- 2.76‑acre property in Arlington, WI
- Building constructed in 1948
- Lower level formerly operated as a radio station
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
$32,159
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
6.43%
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%
$643,180
$643.2K
Cap Rate 7%
$459,414
$459.4K
Cap Rate 9%
$357,322
$357.3K
Market Conditions
NOI Build-Up for 2,707 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
$58.5K $21.60/SF
− Vacancy
−$7.0K −$2.59/SF
EGI
$51.5K $19.01/SF
− OpEx
−$19.3K −$7.13/SF
NOI
$32.2K $11.88/SF
Area
Columbia County, WI
Vacancy
12.00%
Lease Rate
$21.60 /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%
$643,180
Cap Rate 7%
$459,414
Cap Rate 9%
$357,322
Alternative Uses
Best Use
Mixed Use
$459.4K
$402.0K – $536.0K
NOI $32,159 @ 7.0% cap · market cap 6.43%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$608.2K
$532.1K – $709.5K
NOI $42,571 @ 7.0% cap · market cap 8.52%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1
Businesses Nearby
Explore this area
Business Placement
Demographics for 53955, WI
5,951
Population
2,805
Households
2.1
Avg Household Size
45
Median Age
27%
College-Educated
96%
High-School Grad
73.1 sq mi
ZIP Area
81
Density / Sq Mi
$95,802
Median Household Income
$52,849
Median Earnings
$791
Median Rent
$285,100
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Two-level configuration combines former radio-station space, a residence, and a full basement.
Where is this mixed-use property located?
The property is located at N2349 Wibu Arlington, WI.
What is the asking price?
The asking price for this property is $499,900.
What are key features of this property?
This property features: 2.76‑acre property in Arlington, WI; Building constructed in 1948; Lower level formerly operated as a radio station
