Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    218 Merchant Row Milton, WI 53563-1137

    Property Lookup

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

    218 Merchant Row Milton, WI 53563-1137

    View on Map
    • Investment properties
    • 1,560 SF
    • 0.07 lot acres
    Off-Market
    Last Sale May 11, 2022
    $150,000
    Property ID
    US92-0989312
    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.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Investment properties

    Property Details for 218 Merchant Row

    Year built
    1899
    Lot size
    0.07 lot acres
    Property size
    1,560 SF
    Property type
    Investment properties
    Property subtype
    Live-work space
    APN
    V-23-512
    APU
    V23512

    Description

    Investor opportunity in the heart of Milton, Wisconsin! The Seeger Building, a meticulously renovated mixed-use property at 218-220 Merchant Row and 221 First Lane (APN 257060002), offers 4,056 square feet of space across two stories. Built in 1899 and completely renovated in 2024, this building boasts a blend of historic charm and modern updates. The main level features 3,300 square feet of net rentable space, currently leased as retail space in the front and office space in the back, generating $19,800 in annual income. Upstairs, two spacious one-bedroom apartments, also recently renovated, provide additional income potential of $22,000+ annually. These apartments can be leased annually or utilized as short-term vacation rentals. Significant improvements include three new furnaces, three central air systems, three new hot water heaters, complete plumbing and electrical upgrades, and a new roof. The property is zoned B3 and comprises one building with four units. This turnkey investment is ready for immediate income generation. Don't miss this chance to own a piece of Milton's history!

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Milton
    County
    Rock
    State
    Wisconsin
    Longitude
    -88.9634
    Latitude
    42.781
    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
    $2,719
    $9,100
    $111,900
    $121,000
    -
    $0.00
    $0.00
    $157,100

    Comparable in this City

    • Value Estimation by Request
      3,780 SF

      525 College St

      OFFICE/RESIDENTIAL (MIXED USE) • 3,780 SF
      525 College St, Milton, WI 53563-1573
      View Details
    • Value Estimation by Request
      1,980 SF

      52 Merchant Row

      OFFICE/RESIDENTIAL (MIXED USE) • 1,980 SF
      52 Merchant Row, Milton, WI 53563-1135
      View Details
    • Value Estimation by Request
      1,320 SF

      311 Parkview Dr

      OFFICE/RESIDENTIAL (MIXED USE) • 1,320 SF
      311 Parkview Dr, Milton, WI 53563-1538
      View Details
    • Value Estimation by Request
      2,880 SF

      247 Parkview Dr

      OFFICE/RESIDENTIAL (MIXED USE) • 2,880 SF
      247 Parkview Dr, Milton, WI 53563-1536
      View Details
    • Value Estimation by Request
      1,056 SF

      513 Vernal Ave

      OFFICE/RESIDENTIAL (MIXED USE) • 1,056 SF
      513 Vernal Ave, Milton, WI 53563-1144
      View Details
    • Value Estimation by Request
      2,728 SF

      541 Vernal Ave

      OFFICE/RESIDENTIAL (MIXED USE) • 2,728 SF
      541 Vernal Ave, Milton, WI 53563-1144
      View Details

    Similar Nearby for Sale

    • Contact for pricing

      Vacant Land in Milton, WI

      Prime vacant land parcel in Milton, Wisconsin, for commercial development.
      Arthur Dr, Milton, WI 53563
      View Details
    • $2,900,000
      24,280 SF

      Milton Warehouse with Expansion Potential

      24,280 SF warehouse in Milton, WI with expansion possibilities.
      1400 E High St, Milton, WI 53563
      View Details
    • $589,000
      0.30 Acres

      New Duplex in Commuter-Friendly Location

      Modern duplex with private entries and attached garages near Highway.
      56-58 E Ash Ln, Milton, WI 53563
      View Details
    • $149,000
      4.23 Acres

      Wooded Acres in Milton, WI

      4+ acres of wooded land for development in Milton.
      4 Acres +- Glacier Vw Ct, Milton, WI 53563
      View Details
    • $99,900
      0.27 Acres

      Residential Lot with Sweeping Views

      Residential lot in Milton, WI, with sunrise views.
      1168 Red Hawk Dr, Milton, WI 53563
      View Details
    • $850,000

      Commercial Parcel with Pole Building

      1.45-acre commercial parcel with pole building and garage.
      534 Chicago St, Milton, WI 53563
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    218 Merchant Row
    Milton, WI 53563-1137
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!