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319 S Division St,  Stoughton,  WI  53589 $149,000 Sold
319 S Division St,  Stoughton,  WI  53589
$149,000
Sold
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 Property Type Business/Commercial
 Parcel # 0511-081-2190-7
 County Dane
 Sub Area D44
 Municipality Stoughton
 MLS# 1933471
 Listing Date 05/04/2022
 Sold Price $127,000
 Close Date 01/25/2023 12:00 AM

MLS Public Remarks  Real Estate sell only; Current lease is 10 years up to 6/30/2026, with one 10-year option. $1500 rent per month including 1st floor restaurant and 2nd floor residential unit till 2026; 3% annual rent increase if Option is exercised. Current business is a successful restaurant since 2016. First floor was newly remolded in 2016. The kitchen was completely built-up from floor to ceiling, front to back in 2016. Two walk-in coolers, wok, SS sinks and much more; Upstairs is a 3-bedroom apartment with a spacious living room, a kitchen and a bathroom. Seller has relocated out of state for quite a few years, would like to sell and reinvest.
Documents and Related Links  
1) Easement Agreement
2) Area Lot Map
3) RECR
LOCATION  
  • Location  City
  • Other Marketing Area  
  • Mailing City  Stoughton
  • C/T/V  City
  • Unit #  
  • Directions  From Main Street In Stoughton Wi To Division Street
    • BUILDING DESCRIPTION  
  • Real estate for sale  Yes
  • Business for sale  No
  • For lease only  No
  • Ann. Rent/SqFt  $999
  • Total Units/Bldg  2
  • Building Gross SqFt  3,000
  • Net Leasable SqFt  3,000
  • Year Built  999
  • Source for Year Built  Othr
  • Approx Bldg Dimen  20x115
  • Street Frontage  20
  • Parking Fees/Mo.  $0
  • Onsite Parking  2
  • # of Stories  2
  • Ceiling Height Min  8
  • Ceiling Height Max  10
  • Number of Loading Docks  0
  • Zoning  Com
  • Est. Total Acres  0.07
  • Source Of Est Acres  Plat
  • Lot Dimensions  
  • Owner  
  • Tradename  
    • ASSESSMENT & TAXES  
  • Land Assessment  $19,500
  • Assessment Year  2022
  • Net Taxes  $2,141
  • Tax Year  2021
  • Improvements  $106,900
  • Total Assessment  $126,400
    • ANNUAL INCOME/EXPENSES  
  • Income/Expenses Year  $2,021
  • Gross Operating Income  $18,000
  • Annual Operating Exp  $4,000
  • Net Operating Income  $14,000
    • UNIT INFORMATION  
    Unit Lease Type Lease Exp. Date Renewal Option Base Annual Rent Annual Rent/SqFt Other Fees/SqFt Gross SqFt
    1 Commercial 06/30/2026 Yes $18,000 $999 $0 2,000
    2 - 0 0 $0 $0 $0 0
    3 - 0 0 $0 $0 $0 0
    Items Included fixtures & heavy equipment including HVAC units, Canopy Hood, stand-off hood, exhuast fans, Make-up Air Unit, Wakl-in Cooler, Gas Range, Light fixtures and Wall mount Cabinets.
    Items Excluded  Tenant's personal properties and items purchased by tenant after they have occupied the property.
    INTERIOR FEATURES  
  • Heating/Cooling  Central air, Forced air
  • Water/Waste  Municipal sewer, Municipal water
  • Basement  Block foundation, Partial
  • Fuel  Natural gas
  • Seating Capacity  21-30 persons
    • EXTERIOR FEATURES  
  • Type   Restaurant/Supper Club, Retail, Tavern
  • Exterior Treatment  Wood
  • Building Parking  Offsite
  • Roofing  Partially flat, Rubber/membrane, Tar & gravel
  • Terms/Option  
  • Miscellaneous  
    • OTHER FEATURES  
  • Documents on File  Lease(s), Property Condition Report
  • Location  Business district, Near Major Highway
  • Tenant Pays  Air Conditioning, Electric, Heat, Janitorial, Sewer, Snow removal, Trash Services, Water
  • Present Use  Restaurant/Supper Club
  • Licenses  Food
  • Lease Type  Mixed lease types, Partial net
  • Occupied by  Tenant(s)
  • Sale Includes  Easements, Lease(s)
  • Features  Private Restrooms, Residential unit(s)



    • Above Information Deemed Reliable, But Not Guaranteed

    Listing Courtesy of Tri-River Realty