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538 1st St,  New Glarus,  WI  53574 $199,000 Sold
538 1st St,  New Glarus,  WI  53574
$199,000
Sold
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 Property Type Business/Commercial
 Parcel # 161-0013.0000
 County Green
 Sub Area H20
 Municipality New Glarus
 MLS# 1895102
 Listing Date 09/29/2020
 Sold Price $130,000
 Close Date 02/16/2021 12:00 AM

MLS Public Remarks  Looking for an investment with good income potential and long term tenants? One of New Glarus' Downtown Historic Landmarks is for sale! Stately brick building is ready for new owners after 50 years of ownership. The property is currently fully rented. Main level has a retail space holds tall display windows, tall ceilings, small office, work area with access to basement, and balcony. Upstairs is a 1bdrm apartment with bonus room (seller renting as 2bdrm) that has a bright feeling and tall ceilings as well as an efficiency apartment. Property is designated on the Historic Registry. Priced to sell! Property is in need of repairs, Seller will not make repairs. Come check this one out to see if it's a good fit for your investment portfolio! Business is not for sale.
Documents and Related Links  
* 9 Documents Not Available via MLS
LOCATION  
  • Location  Village
  • Other Marketing Area  
  • Mailing City  New Glarus
  • C/T/V  Village
  • Unit #  
  • Directions  Hwy 69 To Hwy 39 To 1st St.
    • BUILDING DESCRIPTION  
  • Real estate for sale  Yes
  • Business for sale  No
  • For lease only  No
  • Ann. Rent/SqFt  $8
  • Total Units/Bldg  3
  • Building Gross SqFt  3,500
  • Net Leasable SqFt  3,500
  • Year Built  1919
  • Source for Year Built  PubR
  • Approx Bldg Dimen  74x23
  • Street Frontage  23
  • Parking Fees/Mo.  $0
  • Onsite Parking  0
  • # of Stories  2
  • Ceiling Height Min  11
  • Ceiling Height Max  11
  • Number of Loading Docks  0
  • Zoning  Commercial
  • Est. Total Acres  0.06
  • Source Of Est Acres  PubR
  • Lot Dimensions  27'x88'
  • Owner  
  • Tradename  
    • ASSESSMENT & TAXES  
  • Land Assessment  $15,600
  • Assessment Year  2020
  • Net Taxes  $4,915
  • Tax Year  2020
  • Improvements  $165,700
  • Total Assessment  $181,300
    • ANNUAL INCOME/EXPENSES  
  • Income/Expenses Year  $2,019
  • Gross Operating Income  $29,400
  • Annual Operating Exp  $0
  • Net Operating Income  $29,400
    • UNIT INFORMATION  
    Unit Lease Type Lease Exp. Date Renewal Option Base Annual Rent Annual Rent/SqFt Other Fees/SqFt Gross SqFt
    1 3MO 02/28/2021 No $13,200 $8 $0 1,750
    2 M2M 1/31/2021 No $9,000 $8 $0 1,166
    3 M2M 0 No $7,200 $12 $0 583
    Items Included Range & Refrigerator in Upper 1 Bedroom Apt, Range & Refrigerator in Upper Sudio Apt.
    Items Excluded  Seller's & Tenant's Personal Property, washer, dryer, all walk in refrig units (incl. interiors, doors), all compressors, grease trap, light fixtures
    INTERIOR FEATURES  
  • Heating/Cooling  Radiant, Window AC
  • Water/Waste  Municipal sewer, Municipal water
  • Basement  Other foundation
  • Fuel  Natural gas
  • Seating Capacity  
    • EXTERIOR FEATURES  
  • Type   Apartment building, Grocery, Retail
  • Exterior Treatment  
  • Building Parking  No Parking
  • Roofing  Rubber/membrane
  • Terms/Option  
  • Miscellaneous  
    • OTHER FEATURES  
  • Documents on File  Property Condition Report
  • Location  Business district, Near Major Highway
  • Tenant Pays  Electric, Sewer, Water
  • Present Use  Apartment building, Grocery, Retail
  • Licenses  None
  • Lease Type  Annual, Month to month
  • Occupied by  
  • Sale Includes  N/A
  • Features  Alley, Display window, Inside storage, Less than 440 volt, Private office(s), Residential unit(s)



    • Above Information Deemed Reliable, But Not Guaranteed

    Listing Courtesy of Restaino & Associates Era Powered