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DOWNTOWN BOGO! 200 & 204 W Main St, Waunakee, WI 53597

$749,900

200 West Main Street, Waunakee, WI 53597

Active
Last Updated: 07/22/2025

6.22

Cap Rate

12.02

Pro Forma Cap Rate

Details:
Cap Rate:    6.22%
Pro Forma Cap Rate :    12.02%
Building Size:    6,656 sqft
Lot Area:    0.25 acres
Occupancy:    66.7%
Units:    6
Lease Type:    Modified Gross
Tenancy:    Multiple
Zoning:    C-1D (Downtown Commercial District
Year Built:    1910
Floors:    2
Seller Financing:    No
Opportunity Zone:    No
Parking Spots:    15
Year Last Renovated:    2025
Gross Leaseable Area:    6,656
Freight Elevator:    No
Roof:    Rubber
HVAC:    Forced Heating & Air
Restrooms:    5
Leed Certitified:    No
Investment Strategy:    Value Add
Highlights:
  • 3 Commercial Storefront/Retail Units and 3 Apartment Units Featuring Forced Air & Central AC
  • Corner Lot on the busy Main St/Hwy 19 the in Affluent Waunakee
  • All Apartment Units Feature In-Unit Laundry. The Property Features 15 Off Street Parking Spaces and a Detached Garage/Storage Building
  • 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 ~ 77% Population Growth: +23% (2010–2020), +1.5% (20202023).
  • Just north of Madison (≈20 mi), serving nearly 15k residents with projected ZIP code growth to 21.5k by 2025 (≈10% increase).
  • Based on 2022 AADT Traffic Data, 14,600+ vehicle driveway trips daily, with morning and afternoon peak traffic feeding into businesses directly.
Description:

Back on the Market, Better Than Ever! Now priced at $749,900, 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. Own a piece of Waunakee’s core today!
• Pro Forma: $58,584 ($90,118 Projected Gross Rent, 5% Vacancy Allowance, & 30% Estimated Expenses)
• Currently Rented: 2 Commercial Units and 2 Apartment Units
• Available for Rent: Commercial Unit A (Approx: 2000+ sqft) and Apartment Unit 3 (Approx: 1,000 sqft)
• Detached Garage is approximately 50 ft × 23 ft (1,048 sq ft)
• Detailed Rent Roll & Leases Available Upon Request

Map:
Documents:
Title
HUD Fair Market Rent Calculation
Brochure (Includes All Public Documents)
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Location
Gallery