Downtown Medical Office
For Sale
$299,000
36 N Johnson St, Hartford, WI 53027
N, Hartford, WI
Property Size1,868 SF
Lot Size0.02 Acres
Price / SF$160.06
Days on Market35
Property Features for 36 N Johnson St
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
B-3
Directions
From Highway 60 Turn North onto Johnson St, about halfway through the block the building is in the middle of the parking lot next to Perc Place rear entrance.
Standard status
Active
APN
36_2001005026
Size
1,868 SF
Lot size
0.02 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
2941
Building Details
Year built
1994
Architectural style
Other
Listing Agency:
Homestead Realty, Inc
(800) 339-4444
Listed By:
Wendy Wendorf · License #9051894
(262) 716-6688
Added: Aug 4
Changed: Aug 20
Last Checked: Sep 7 at 4:06PM
MLS# 1974821
Copyright © 2026 Metro MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 1,868-square-foot medical office property was built in 1994 and occupies a 0.02-acre parcel in downtown Hartford. The building has received a new roof along with additional updates, and the existing commercial space is currently occupied under a lease. The offering includes the real estate, not the operating business.
Positioned in the downtown area, the property benefits from visibility and reported pedestrian and vehicle activity. B-3 zoning supports its commercial classification. The current lease may remain in place, while any opportunity for the purchaser to occupy space through a sublease would be subject to the applicable lease terms.
Positioned in the downtown area, the property benefits from visibility and reported pedestrian and vehicle activity. B-3 zoning supports its commercial classification. The current lease may remain in place, while any opportunity for the purchaser to occupy space through a sublease would be subject to the applicable lease terms.
Key Highlights
- 1,868‑square‑foot medical office property on a 0.02‑acre parcel
- Existing commercial lease and occupied space
- New roof plus additional property updates
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$26,560
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
8.88%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$531,200
$531.2K
Cap Rate 7%
$379,429
$379.4K
Cap Rate 9%
$295,111
$295.1K
Market Conditions
NOI Build-Up for 1,868 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$46.4K $24.84/SF
− Vacancy
−$11.0K −$5.88/SF
EGI
$35.4K $18.96/SF
− OpEx
−$8.9K −$4.74/SF
NOI
$26.6K $14.22/SF
Area
Washington County, WI
Vacancy
23.68%
Lease Rate
$24.84 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$531,200
Cap Rate 7%
$379,429
Cap Rate 9%
$295,111
Alternative Uses
Best Use
Office B
$379.4K
$332.0K – $442.7K
NOI $26,560 @ 7.0% cap · market cap 8.88%
Second Best
Healthcare Medical
$348.0K
$304.5K – $406.0K
NOI $24,361 @ 7.0% cap · market cap 8.15%
Theoretical Best
Office A
$513.5K
$449.4K – $599.1K
NOI $35,948 @ 7.0% cap · market cap 12.02%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
457
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 53027, WI
23,254
Population
10,091
Households
2.3
Avg Household Size
43
Median Age
28%
College-Educated
93%
High-School Grad
91.0 sq mi
ZIP Area
256
Density / Sq Mi
$85,708
Median Household Income
$50,853
Median Earnings
$1,113
Median Rent
$290,200
Median Home Value
Market
Vacancy Rate% for Office in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Medical Office Space - B-3-zoned commercial property with an existing tenant and recent roof improvements.
Where is this medical office space located?
The property is located at 36 N Johnson St Hartford, WI.
What is the asking price?
The asking price for this property is $299,000.
What are key features of this property?
This property features: 1,868‑square‑foot medical office property on a 0.02‑acre parcel; Existing commercial lease and occupied space; New roof plus additional property updates
