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DOU ON MAIN & NINETEEN! 200 & 204 W Main St 6,656 SF 83% Leased Retail Building Waunakee, WI 53597 $749,900 ($112.67/SF) 2.76% Cap Rate
INVESTMENT HIGHLIGHTS
- 3 Commercial Storefront/Retail Units and 3 Apartment Units Featuring Forced Air & Central AC
- All Apartment Units Feature In-Unit Laundry. The Property Features 15+ Off Street Parking Spaces and a Detached Garage/Storage Building
- Just north of Madison (˜20 mi), serving nearly 15k residents with projected ZIP code growth to 21.5k by 2025 (˜10% increase).
- Corner Lot on the busy Main St/Hwy 19 the in Affluent Waunakee
- 14.9k, median age of 40 years. Median Household Income of $128,750 - nearly 1.5× the national median. Median Property Value of $490,300; homeownership
- Based on 2022 AADT Traffic Data, 14,600+ vehicle driveway trips daily, with morning and afternoon peak traffic feeding into businesses directly.
EXECUTIVE SUMMARY
Pro Forma NOI of $73,497 and 9.8% Cap Rate based on $90,118 in Projected Annual Gross Rent. This revitalized downtown Waunakee gem offers 2 adjoining buildings of flexible mixed-use space with updated apartment units, freshly cleaned commercial suites, & fresh vertical steel façade. The property combines historic Main Street character with strong local visibility and growing area demand. Ideal asset for owner-occupants or investors seeking upside and walkable access to everything Waunakee offers. Many upgrades include a replaced Asphalt Parking Lot, upgraded Landscaping Drainage, Furnace (Bike Shop), Washer & Paint (#1), Flooring, Blinds, Paint, & Countertops (#2), Paint, Dishwasher, Washer, Dryer, & Water Heater (#3), Garage Door, Main Gas Line, and more. Restaurateurs welcomed. This is a rare opportunity to own a core piece of downtown Waunakee!
• Currently Leased: 2 of 3 Commercial Units and all 3 Residential Apartments (83.33% Occupancy)
• Available for Rent: Commercial Unit A (Approx: 2000+ sqft) at $2,200 Monthly
• Detached Garage is approximately 50 ft × 23 ft (1,048 sq ft)
• Detailed Rent Roll & Leases Available Upon Request
• Currently Leased: 2 of 3 Commercial Units and all 3 Residential Apartments (83.33% Occupancy)
• Available for Rent: Commercial Unit A (Approx: 2000+ sqft) at $2,200 Monthly
• Detached Garage is approximately 50 ft × 23 ft (1,048 sq ft)
• Detailed Rent Roll & Leases Available Upon Request
FINANCIAL SUMMARY (PRO FORMA - 2025) |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
$90,118
|
$13.54
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$90,118
|
$13.54
|
| Taxes |
$10,187
|
$1.53
|
| Operating Expenses |
$6,434
|
$0.97
|
| Total Expenses |
$16,621
|
$2.50
|
| Net Operating Income |
$73,497
|
$11.04
|
FINANCIAL SUMMARY (PRO FORMA - 2025)
| Gross Rental Income | |
|---|---|
| Annual | $90,118 |
| Annual Per SF | $13.54 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $90,118 |
| Annual Per SF | $13.54 |
| Taxes | |
|---|---|
| Annual | $10,187 |
| Annual Per SF | $1.53 |
| Operating Expenses | |
|---|---|
| Annual | $6,434 |
| Annual Per SF | $0.97 |
| Total Expenses | |
|---|---|
| Annual | $16,621 |
| Annual Per SF | $2.50 |
| Net Operating Income | |
|---|---|
| Annual | $73,497 |
| Annual Per SF | $11.04 |
PROPERTY FACTS Under Contract
Sale Type
Investment or Owner User
Property Type
Retail
Property Subtype
Building Size
6,656 SF
Building Class
C
Year Built
1910
Price
$749,900
Price Per SF
$112.67
Cap Rate
2.76%
NOI
$20,697
Percent Leased
83%
Tenancy
Multiple
Building Height
2 Stories
Building FAR
0.61
Lot Size
0.25 AC
Zoning
C-1D - C-1D (Downtown Commercial District). See "Brochure • 200 & 204 W Main St" in the Brochures & Other Documents section for full permitted uses.
Parking
15 Spaces (2.25 Spaces per 1,000 SF Leased)
Frontage
27’ on Fish St
AMENITIES
- Bus Line
- Corner Lot
- Signage
- Storage Space
- Air Conditioning
MAJOR TENANTS
- TENANT
- INDUSTRY
- SF OCCUPIED
- RENT/SF
- LEASE TYPE
- LEASE END
- Wana Bike Shop
- Retailer
- 1,560 SF
- -
- Modified Gross
- Apr 2026
| TENANT | INDUSTRY | SF OCCUPIED | RENT/SF | LEASE TYPE | LEASE END | |
| Wana Bike Shop | Retailer | 1,560 SF | - | Modified Gross | Apr 2026 |
Walk Score®
Very Walkable (82)
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 0809-082-2056-8 | Total Assessment | $577,900 (2024) |
| Land Assessment | $145,500 (2024) | Annual Taxes | $10,187 ($1.53/SF) |
| Improvements Assessment | $432,400 (2024) | Tax Year | 2025 |
PROPERTY TAXES
Parcel Number
0809-082-2056-8
Land Assessment
$145,500 (2024)
Improvements Assessment
$432,400 (2024)
Total Assessment
$577,900 (2024)
Annual Taxes
$10,187 ($1.53/SF)
Tax Year
2025
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Presented by
Realty Executives Cooper Spransy
DOU ON MAIN & NINETEEN! | 200 & 204 W Main St
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