Medical Office
For Sale
$1,350,000
790 EASTGATE Drive, Ripon, WI 54971
Commercial Sale, RIPON, WI
Property Size7,900 SF
Lot Size3.04 Acres
Price / SF$170.89
Days on Market52
Property Features for 790 EASTGATE Drive
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
Commercial
Basement
Partial
Elementary school district
Ripon
Middle school district
Ripon
High school district
Ripon
Directions
West on HWY 23, right on Eastgate Drive. Property located on the SW corner of HWY 23 & Eastgate Drive.
Standard status
Active
APN
RIP-16-14-27-05-002-00
Lot size
3.04 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
32896
Utilities
Sewer type
Public Sewer
Heating system
Forced Air
Cooling system
Central Air
Water source
Public
Amenities
exam rooms
private offices
lobby
conference areas
Building Details
Year built
2008
Floors in Building
1
Building materials
Brick, Stucco
Listing Agency:
Adashun Jones, Inc.
(920) 923-4433
Listed By:
Kevin J. Jones · License #91833299
(920) 251-6748
Added: Jul 2
Changed: Aug 21
Last Checked: Aug 22 at 5:06PM
MLS# 50328491
Copyright © 2026 Realtor Association of Northeast Wisconsin. 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 medical office property includes more than 7,900 square feet within a 2008 brick and stucco building. The layout provides multiple exam rooms, private offices, a lobby, conference areas, four bathrooms, and a partial basement. A poured concrete foundation, forced-air heating, and central air support the facility’s existing configuration.
The property occupies 3.04 acres of commercially zoned land in Ripon, Wisconsin, with visibility from HWY 23 and proximity to SSM Hospital. Public water and public sewer serve the site. The current improvements are arranged for medical office use, with additional land area available as part of the property.
The property occupies 3.04 acres of commercially zoned land in Ripon, Wisconsin, with visibility from HWY 23 and proximity to SSM Hospital. Public water and public sewer serve the site. The current improvements are arranged for medical office use, with additional land area available as part of the property.
Key Highlights
- Over 7,900 sq ft medical office building
- 3.04‑acre commercially zoned parcel
- Visibility from HWY 23 near SSM Hospital
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
$120,301
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
8.91%
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%
$2,406,020
$2.4M
Cap Rate 7%
$1,718,586
$1.7M
Cap Rate 9%
$1,336,678
$1.3M
Market Conditions
NOI Build-Up for 7,900 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
$213.3K $27.00/SF
− Vacancy
−$12.8K −$1.62/SF
EGI
$200.5K $25.38/SF
− OpEx
−$80.2K −$10.15/SF
NOI
$120.3K $15.23/SF
Area
Fond du Lac County, WI
Vacancy
6.00%
Lease Rate
$27.00 /SF/Yr
Expense Ratio
40.00%
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%
$2,406,020
Cap Rate 7%
$1,718,586
Cap Rate 9%
$1,336,678
Alternative Uses
Best Use
Healthcare Medical
$1.72M
$1.50M – $2.01M
NOI $120,301 @ 7.0% cap · market cap 8.91%
Second Best
Office B
$1.16M
$1.02M – $1.36M
NOI $81,384 @ 7.0% cap · market cap 6.03%
Theoretical Best
Multifamily LT 5
$7.61M
$6.66M – $8.88M
NOI $532,871 @ 7.0% cap · market cap 39.47%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
141
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 54971, WI
10,938
Population
4,918
Households
2.2
Avg Household Size
42
Median Age
26%
College-Educated
93%
High-School Grad
110.9 sq mi
ZIP Area
99
Density / Sq Mi
$65,914
Median Household Income
$41,534
Median Earnings
$708
Median Rent
$182,800
Median Home Value
Market
Vacancy Rate% for Office in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Medical Office Space - Modern healthcare facility with exam rooms, private offices, conference areas, and public utilities.
Where is this medical office space located?
The property is located at 790 EASTGATE Drive Ripon, WI.
What is the asking price?
The asking price for this property is $1,350,000.
What are key features of this property?
This property features: Over 7,900 sq ft medical office building; 3.04‑acre commercially zoned parcel; Visibility from HWY 23 near SSM Hospital
