Mixed Use & Multi-Family Building
16,932 SF Multi-Family Conversion Opp | Income Generating
Marketing description
Just Listed! 17,000SF Mixed-Use Commercial Building in the heart of downtown West Salem, WI. A beautiful, historical building primed for Multi-Unit Conversion with lenient zone allowances (Multi-Family)! Minutes from La Crosse, this well-maintained all brick build offers investors a flexible value-add opportunity with instant revenues. Zoned G2 Commercial, the property is well suited for a multi-family conversion or a mixed-use redevelopment combining street-level commercial space with residential units above. West Salem's steady growth and proximity to the La Crosse Metro make this an attractive entry point for investors seeking to reposition an established building in a market with strong rental demand and limited inventory. With solid infrastructure, operations and leases in place and a prominent, high-visibility location, the property is ready for its next chapter — and its next owner's vision.
Building appraisal and financials available for qualified buyers with executed NDA.
Investment highlights
CAP rate is current P&L
Proforma CAP rate is multi-unit conversion, passive income with proven/current restaurant P&L (or lease-back)
SALE INCLUSIVE OF:
*174 & 172 Leonard St. South *Intangible Assets: lease(s), easements
*2 adjacent, 2-story buildings *Tangible Assets: equipment, furniture/decor
*0.25 Acre Lot *2025 Gross Revenue O/Occ: $620,748
MULTI-UNIT CONVERSION OPP:
*Upper Level Multi-Family: zoned for up to 5 units
*Main Level Commercial: 2 independent storefronts bearing $7-$11 psf
*Gaming License approved: current annual revenues $65,000
*Low Holding Costs: Annual Property Tax: $7,396
*Conversion Lease/Valuations available upon request
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