Building Details

Year built 1974

Number of units 3

Roof type Metal, Composition

Listing Agency: EXIT Professional Real Estate · EXIT Realty m***@gmail.com Show Phone

Listed By: Jeff Maliszewski · License #5654590 Show Phone

Added: Jul 17 Changed: Aug 10 Last Checked: Aug 10 at 8:06PM

Report an Issue

MLS# 2021054

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 commercial vineyard property combines agricultural, hospitality, event, production, warehouse, and residential improvements at W8170 Pilz Road in Browntown, Wisconsin. The property size is 15,396 square feet and includes a wine bar with countryside views, an event pavilion, a production building with a bathroom, cooler, and office, plus an additional residence. Vineyard plantings include Frontenac Gris, Marquette, and Petite Pearl grapes.

A 5,760-square-foot heated warehouse adds substantial enclosed operational space. The property is zoned Commercial and was built in 1974. Interior features include public restrooms, a security system, truck doors 15 feet or lower, and electrical service below 440 volts. Metal and composition roofing are present across the improvements.

Key Highlights

• Commercial zoning with vineyard, winery, event, warehouse, and residential improvements
• 15,396 square feet of property improvements
• 5,760‑square‑foot heated warehouse

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

$98,707

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

5.06%

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%

$1,974,140 $2.0M

Cap Rate 7%

$1,410,100 $1.4M

Cap Rate 9%

$1,096,744 $1.1M

Market Conditions

NOI Build-Up for 15,396 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

$120.1K $7.80/SF

− Vacancy

−$4.0K −$0.26/SF

EGI

$116.1K $7.54/SF

− OpEx

−$17.4K −$1.13/SF

NOI

$98.7K $6.41/SF

Area

Green County, WI

Vacancy

3.30%

Lease Rate

$7.80 /SF/Yr

Expense Ratio

15.00%

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%

$1,974,140

Cap Rate 7%

$1,410,100

Cap Rate 9%

$1,096,744

Alternative Uses

Best Use

Specialty Retail

$3.57M

$3.13M – $4.17M (±1% cap)

NOI $250,108 @ 7.0% cap · market cap 12.83%

Second Best

Warehouse

$1.41M

$1.23M – $1.65M (±1% cap)

NOI $98,707 @ 7.0% cap · market cap 5.06%

Theoretical Best

Office A

$4.50M

$3.94M – $5.25M (±1% cap)

NOI $314,817 @ 7.0% cap · market cap 16.14%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Property Profile

Current Use

Hawk's Mill Winery Brewery & Distillery

Location Intelligence

Trade Area within ½ mile

1

Businesses Nearby

Explore this area Business Placement

Demographics for 53522, WI

1,025

Population

438

Households

2.3

Avg Household Size

50

Median Age

15%

College-Educated

88%

High-School Grad

39.2 sq mi

ZIP Area

26

Density / Sq Mi

$79,271

Median Household Income

$39,856

Median Earnings

$820

Median Rent

$183,000

Median Home Value

Market

Vacancy Rate% for Industrial in Midwest region

4.4% 2019

4.9% 2020

3.6% 2021

3.1% 2022

4.6% 2023

5% 2024

4.9% 2025

Questions? Ask Rey

Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.

What type of property is this? Where is this vineyards located? What is the asking price? Find similar properties ... What are key features of this property?

Ask Rey about this property ...

Similar For Sale Nearby

Commercial Vineyard With Winery Facilities

W8170 Pilz Road, Browntown, WI 53522

$1,200,000

15,396 SF

View details

Vineyard Property with Event Pavilion

W8170 Pilz Road, Browntown, WI 53522

$900,000

15,396 SF

View details

Winery and Event Venue

Browntown, WI 53522

Contact for pricing

15,396 SF

View details

Mixed-Use Retail and Residential Building

102 S Mill St, Browntown, WI 53522

$139,900

View details

Frequently Asked Questions

What type of property is this?

Vineyard - Commercial vineyard with a wine bar, production facilities, event space, warehouse, and residence in southwestern Wisconsin.

Where is this vineyard located?

The property is located at W8170 Pilz Road Browntown, WI.

What is the asking price?

The asking price for this property is $1,950,000.

What are key features of this property?

This property features: Commercial zoning with vineyard, winery, event, warehouse, and residential improvements; 15,396 square feet of property improvements; 5,760‑square‑foot heated warehouse