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

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MLS# 2021050

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 10.99-acre commercial vineyard includes winery improvements, an established business, inventory, and production infrastructure. The vineyard contains Frontenac Gris, Marquette, and Petite Pearl plantings. Improvements include a wine bar with countryside views, an event pavilion for weddings and special events, and a production building with a bathroom, cooler, and office. A 5,760-square-foot heated warehouse adds substantial enclosed operational space, while the overall property size is 15,396 square feet. The buildings date to 1974 and include metal and composition roofing.

Located at W8170 Pilz Road in Browntown, Wisconsin, the property carries Commercial zoning. Additional features include public restrooms, a security system, truck doors 15 feet or lower, and electrical service below 440 volts. The sale includes the opportunity to continue the existing winery operation along with the associated business assets and inventory.

Key Highlights

• 10.99‑acre commercial vineyard with winery buildings and established business
• Vineyard planted with Frontenac Gris, Marquette, and Petite Pearl varieties
• 5,760 sq ft heated warehouse included

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

8.23%

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

Warehouse

$1.41M

$1.23M – $1.65M (±1% cap)

NOI $98,707 @ 7.0% cap · market cap 8.23%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$4.50M

$3.94M – $5.25M (±1% cap)

NOI $314,817 @ 7.0% cap · market cap 26.23%

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

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Frequently Asked Questions

What type of property is this?

Vineyard - Commercial vineyard with production buildings, an event pavilion, wine bar, and an operating winery business.

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 $1,200,000.

What are key features of this property?

This property features: 10.99‑acre commercial vineyard with winery buildings and established business; Vineyard planted with Frontenac Gris, Marquette, and Petite Pearl varieties; 5,760 sq ft heated warehouse included