Historic Mixed-Use Property with Living
For Sale
$399,900
W4254 County Road K, Random Lake, WI 53075
Character-rich commercial property with an integrated bar, decorative tin ceilings, and on-site residential quarters.
Property Size3,082 SF
Price / SF$129.75
Days on Market49
Property Features for W4254 County Road K
General Information
Standard status
Active
Size
3,082 SF
Building Details
Year Built
1885
Listing Agency:
Boss Realty, LLC
(262) 689-0022
Listed By:
Thomas Zernia · License #5745190
Source:
Sellingsheboygan
Added: Jul 14
Changed: Aug 30
Last Checked: Aug 30 at 2:19PM
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 Boss Realty, LLC
Investment Insights
Based on property information with market context.
Located at W4254 County Road K in Holland, Wisconsin, this mixed-use property dates to 1885 and offers a combination of commercial character and residential functionality. The interior includes a carved bar, tin ceilings, and living quarters within the building.
The property size is listed as 3,082, providing a compact format for an owner-occupant seeking space that combines business and living uses. Its historic detailing and existing configuration provide a distinctive foundation for continued mixed-use occupancy.
The property size is listed as 3,082, providing a compact format for an owner-occupant seeking space that combines business and living uses. Its historic detailing and existing configuration provide a distinctive foundation for continued mixed-use occupancy.
Key Highlights
- 1885 construction date
- 3,082 property size
- Carved interior bar
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
$33,584
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
8.40%
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%
$671,680
$671.7K
Cap Rate 7%
$479,771
$479.8K
Cap Rate 9%
$373,156
$373.2K
Market Conditions
NOI Build-Up for 3,082 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
$53.6K $17.40/SF
− Vacancy
−$8.8K −$2.87/SF
EGI
$44.8K $14.53/SF
− OpEx
−$11.2K −$3.63/SF
NOI
$33.6K $10.90/SF
Area
Sheboygan County, WI
Vacancy
16.50%
Lease Rate
$17.40 /SF/Yr
Expense Ratio
25.00%
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%
$671,680
Cap Rate 7%
$479,771
Cap Rate 9%
$373,156
Alternative Uses
Best Use
Specialty Retail
$578.9K
$506.6K – $675.4K
NOI $40,525 @ 7.0% cap · market cap 10.13%
Second Best
Office B
$479.8K
$419.8K – $559.7K
NOI $33,584 @ 7.0% cap · market cap 8.40%
Theoretical Best
Office A
$671.7K
$587.7K – $783.6K
NOI $47,018 @ 7.0% cap · market cap 11.76%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
9
Businesses Nearby
Explore this area
Business Placement
Demographics for 53075, WI
3,219
Population
1,475
Households
2.2
Avg Household Size
48
Median Age
24%
College-Educated
94%
High-School Grad
36.5 sq mi
ZIP Area
88
Density / Sq Mi
$90,917
Median Household Income
$49,385
Median Earnings
$890
Median Rent
$273,000
Median Home Value
Market
Vacancy Rate% for Office in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Character-rich commercial property with an integrated bar, decorative tin ceilings, and on-site residential quarters.
Where is this mixed-use property located?
The property is located at W4254 County Road K Random Lake, WI.
What is the asking price?
The asking price for this property is $399,900.
What are key features of this property?
This property features: 1885 construction date; 3,082 property size; Carved interior bar
