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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    1623 Park Ave Beloit, WI 53511-4514

    • Grocery and convenience stores
    • 3,312 SF
    • 0.17 lot acres
    OFF-MARKET
    Last Sale
    May 05, 2023
    $90,000
    Value Estimations
    $95,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US92-0666203
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Cinco de Mayo Supermarket / Grocery Store
    • Mi Tienda Santa Rosa / Grocery Store

    Property Details for 1623 Park Ave

    Year built
    1958
    Lot size
    0.17 lot acres
    Property size
    3,312 SF
    Property type
    Grocery and convenience stores
    APN
    12570493
    APU
    12570493

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $90,000
      ML approach
      $100,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $95,000
      Market price range: $52.6k - $235k
      AI Estimate
      $135,000
      Market price range: $97.4k - $359k

    • Alternative Use

      Use
      Estimation
      RETAIL STORES
      $150,000
      Current use

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Beloit
    County
    Rock
    State
    Wisconsin
    Longitude
    -89.0264
    Latitude
    42.5186
    CBSA code
    27500
    CBSA name
    JANESVILLE, WI METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $1,665
    $18,400
    $87,500
    $105,900
    -
    $0.00
    $0.00
    $120,500

    Comparable in this City

    • Value Estimation
      $450,000
      6,745 SF

      2881 Milwaukee Rd

      CONVENIENCE STORE • 6,745 SF
      2881 Milwaukee Rd, Beloit, WI 53511-1944
      View Details
    • Value Estimation
      $340,000
      4,150 SF

      2350 Cranston Rd

      CONVENIENCE STORE • 4,150 SF
      2350 Cranston Rd, Beloit, WI 53511-3108
      View Details
    • Value Estimation
      $385,000
      1,928 SF

      1407 Liberty Ave

      CONVENIENCE STORE • 1,928 SF
      1407 Liberty Ave, Beloit, WI 53511-5015
      View Details
    • Value Estimation
      $920,000
      57,745 SF

      20 Park Ave

      GROCERY, SUPERMARKET • 57,745 SF
      20 Park Ave, Beloit, WI 53511-6300
      View Details
    • Value Estimation
      $300,000
      4,000 SF

      1343 Madison Rd

      CONVENIENCE STORE • 4,000 SF
      1343 Madison Rd, Beloit, WI 53511-4079
      View Details
    • Value Estimation
      $280,000
      2,520 SF

      1451 Madison Rd

      CONVENIENCE STORE • 2,520 SF
      1451 Madison Rd, Beloit, WI 53511-4080
      View Details

    Similar Nearby for Sale

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      Upgraded Commercial Space in Beloit

      Freshly improved interior ideal for retail, office, or boutique.
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    • New
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      Versatile Commercial Building in Beloit

      Commercial property with C2 zoning, suitable for various uses.
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    • $462,000
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      Income-Producing Beloit Retail Strip Center

      Fully leased office and retail strip center in Beloit, Wisconsin.
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    • Contact for pricing
      0.70 Acres

      Beloit Commercial Land - 0.7 Acres

      Prime Beloit location, build-to-suit potential.
      2660 Prairie Ave, Beloit, WI 53511
      View Details
    • New
      $1,250,000

      Versatile Commercial Space on Cranston

      Expansive commercial property with high visibility and versatile space.
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    • Contact for pricing
      40,739 SF

      Beloit Warehouse: Prime Industrial Space

      40,739 SF Warehouse - $10,000/Month
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    Similar Nearby for Lease

    • $12 SF/Yr

      Retail Complex in Morgan Square

      Retail spaces available in high-visibility Beloit shopping center.
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    • $12 SF/Yr
      73,446 SF

      Morgan Square Retail Center

      High-traffic retail space available.
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    • $25 SF/Yr
      7,848 SF

      Beloit Retail Space for Lease

      High-visibility retail space near major highways.
      2600 Branigan Rd, Beloit, WI 53511
      View Details
    • Contact for pricing
      7,038 SF

      Beloit Retail Strip Center Opportunity

      High-visibility retail space available in Beloit, WI.
      1402 Liberty Ave, Beloit, WI 53511
      View Details
    • $6 SF/Yr
      18,000 SF

      Madison Road Retail Opportunity

      18,000 SF Retail Space in Beloit, WI
      1715 Madison Rd, Beloit, WI 53511
      View Details
    • $10 SF/Yr
      57,540 SF

      Prairie Ave Commercial Space

      Beloit, WI Retail & Office Opportunity
      2711 Prairie Ave, Beloit, WI 53511
      View Details
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    1623 Park Ave
    Beloit, WI 53511-4514
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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