230 7th St Delavan, WI 53115-1829

Property Details for 230 7th St

Lot size

0.64 lot acres

Property type

Commercial real estate

APN

XP 00139

APU

XP00139

Description

This exceptional mixed-use property, located at 230 S 7th St, Delavan, WI 53115, presents a compelling investment opportunity. Spanning 17,195 square feet on a 1.2-acre lot, this property boasts three buildings, each single-story, and offers a blend of automotive and retail space. Currently operating at 90% occupancy with three tenants, the property generates a net operating income (NOI) of $3,750. The asking price is $690,000, representing a price per square foot of $40.13 and a 0.54% cap rate. The main space (8,048 sq ft) is currently used as an automotive repair facility, complemented by two retail tenants occupying 3,172 and 2,878 square feet respectively, and an additional 3,097 sq ft repair bay. The property features 35 parking spaces and benefits from three-phase power and multiple service panels. Built in 1950 and renovated in 2013, the property is zoned for business use and situated on State Hwy 50, providing excellent visibility and accessibility. This property is ideal for an owner-user seeking expansion or an investor looking for a multi-tenant income stream with potential for further growth by adding one or two more tenants. The existing tenants contribute significantly to covering overhead costs. This is a gross lease property.