Historic Mixed-Use
For Sale
Contact for pricing
N2349 WIBU Road, Poynette, WI 53955
Distinctive two-story building with former radio and residential uses, positioned on a hill overlooking the Baraboo Bluffs.
Property Size2,707 SF
Price / SF$184.67
Days on Market12
Property Features for N2349 WIBU Road
General Information
Standard status
Active
Size
2,707 SF
Total Parking Spaces
12
Property subtype
Retail, Industrial
Building Details
Year Built
1948
Units
1
Listing Agency:
Madcityhomes.Com
(608) 438-3150
Listed By:
Stuart Meland · License #51242-90
Source:
Crexi
Added: Aug 11
Changed: Aug 21
Last Checked: Aug 21 at 9:17PM
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, this 2,707-square-foot mixed-use property has a two-level configuration with a former radio station occupying the lower floor and a residence above. The building’s exterior was designed to resemble the bow of a cruise ship, creating a distinctive architectural profile. A full basement includes large windows and was previously finished. The property requires extensive cosmetic renovation, offering a substantial rehabilitation project or the option to remove the existing structure.
The building sits on a high hill at N2349 WIBU Road in Poynette, Wisconsin, with views toward the Baraboo Bluffs. The 2.76-acre site provides land surrounding the existing improvements and can support evaluation of future residential or commercial concepts, subject to applicable approvals.
The building sits on a high hill at N2349 WIBU Road in Poynette, Wisconsin, with views toward the Baraboo Bluffs. The 2.76-acre site provides land surrounding the existing improvements and can support evaluation of future residential or commercial concepts, subject to applicable approvals.
Key Highlights
- 2,707‑square‑foot mixed‑use building constructed in 1948
- Former radio station on the lower floor with residence above
- Full basement with large windows; previously finished
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
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
22
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 - Distinctive two-story building with former radio and residential uses, positioned on a hill overlooking the Baraboo Bluffs.
Where is this mixed-use property located?
The property is located at N2349 WIBU Road Poynette, 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: 2,707‑square‑foot mixed‑use building constructed in 1948; Former radio station on the lower floor with residence above; Full basement with large windows; previously finished
