Highway-Visible Storefront
For Sale
$499,000
W10521 Tritz Road, Portage, WI 53901
COMMERCIAL - Portage, WI
Property Size4,288 SF
Lot Size4.09 Acres
Price / SF$116.37
Days on Market116
Property Features for W10521 Tritz Road
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
C3 Hwy Int
Interior features
Signage available
Lot features
Near Major Highway
Directions
Northwest corner of I90-94 and State Hwy 33 (Tritz); Portage/Baraboo Exit
Subdivision
CALEDONIA - T
Standard status
Active
APN
11004 609.A1
Size
4,288 SF
Lot size
4.09 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
5095
Building Details
Year built
1977
Number of units
2
Roof type
Composition, Membrane
Listing Agency:
Restaino & Associates
(608) 833-7777
Listed By:
Craig Endres · License #5637994
(608) 577-2245
Added: Apr 17
Changed: Aug 10
Last Checked: Aug 10 at 6:06PM
MLS# 1990342
Copyright © 2026 REALTORS® Association of South Central Wisconsin. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This storefront property includes a 4,288 +/- square foot building on 4.09 +/- acres at W10521 Tritz Road in Portage, Wisconsin. The site is zoned C3 Highway Interchange, with signage available and a combination composition and membrane roof system. Built in 1977, the property provides a commercial building with substantial land area for its intended highway-oriented setting.
Visibility extends from I90-94, and the property is near the Hwy 33 exit and Cascade Mountain. Its location on Tritz Road places the building within the Portage market, with access serving the highway interchange area. The parcel’s zoning and visible position provide the principal physical and locational characteristics of the offering.
Visibility extends from I90-94, and the property is near the Hwy 33 exit and Cascade Mountain. Its location on Tritz Road places the building within the Portage market, with access serving the highway interchange area. The parcel’s zoning and visible position provide the principal physical and locational characteristics of the offering.
Key Highlights
- 4.09 +/- acres in Portage, WI
- 4,288 +/- square foot commercial building
- Visible from I90‑94 near the Hwy 33 exit
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
$43,834
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
8.78%
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%
$876,680
$876.7K
Cap Rate 7%
$626,200
$626.2K
Cap Rate 9%
$487,044
$487.0K
Market Conditions
NOI Build-Up for 4,288 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
$68.4K $15.96/SF
− Vacancy
−$5.8K −$1.36/SF
EGI
$62.6K $14.60/SF
− OpEx
−$18.8K −$4.38/SF
NOI
$43.8K $10.22/SF
Area
Columbia County, WI
Vacancy
8.50%
Lease Rate
$15.96 /SF/Yr
Expense Ratio
30.00%
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%
$876,680
Cap Rate 7%
$626,200
Cap Rate 9%
$487,044
Alternative Uses
Best Use
Retail
$626.2K
$547.9K – $730.6K
NOI $43,834 @ 7.0% cap · market cap 8.78%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$963.3K
$842.9K – $1.12M
NOI $67,434 @ 7.0% cap · market cap 13.51%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
2
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 53901, WI
14,924
Population
6,550
Households
2.3
Avg Household Size
42
Median Age
20%
College-Educated
91%
High-School Grad
147.3 sq mi
ZIP Area
101
Density / Sq Mi
$72,244
Median Household Income
$40,914
Median Earnings
$969
Median Rent
$214,300
Median Home Value
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Storefront property - C3 Highway Interchange zoning, available signage, and access near the Hwy 33 exit support commercial storefront use.
Where is this storefront property located?
The property is located at W10521 Tritz Road Portage, WI.
What is the asking price?
The asking price for this property is $499,000.
What are key features of this property?
This property features: 4.09 +/- acres in Portage, WI; 4,288 +/- square foot commercial building; Visible from I90‑94 near the Hwy 33 exit
