Medical Office
For Sale
$265,000
1-107 S Third Street, Delavan, WI 53115
Planned delivery includes core improvements, leaving the remaining build-out available for customization.
Property Size1,759 SF
Price / SF$150.65
Days on Market131
Property Features for 1-107 S Third Street
General Information
Standard status
Active
Size
1,759 SF
Additional Details
Property Use
Office
Listing Agency:
MELGES Real Estate, LLC
(262) 249-7653
Listed By:
Berisha Cary · License #93986-94
(262) 949-3374
Source:
Exprealty
Added: Jun 24
Changed: Oct 30
Last Checked: Nov 1 at 10:56AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of MELGES Real Estate, LLC
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This 1,759-square-foot medical office suite is in Downtown Delavan’s Historic District. Delivery is planned with drywall, lighting, electrical, and core improvements in place; the remaining build-out can be customized. Potential uses identified for the space include professional offices, medical and healthcare practices, and wellness or spa services.
The property is just off Brick Road and has access to street parking. Images depict an envisioned completed space; final finishes, layout, and build-out may differ.
The property is just off Brick Road and has access to street parking. Images depict an envisioned completed space; final finishes, layout, and build-out may differ.
Key Highlights
- 1,759‑square‑foot medical office suite
- Planned delivery with drywall, lighting, electrical, and core improvements
- Remaining build‑out can be customized
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$21,207
Cap Rate
8.00%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$424,140
$424.1K
Cap Rate 7%
$302,957
$303.0K
Cap Rate 9%
$235,633
$235.6K
Market Conditions
NOI Build-Up for 1,759 SF
Gross rent
$38.6K $21.96/SF
− Vacancy
−$3.3K −$1.87/SF
EGI
$35.3K $20.09/SF
− OpEx
−$14.1K −$8.04/SF
NOI
$21.2K $12.06/SF
Area
Walworth County, WI
Vacancy
8.50%
Lease Rate
$21.96 /SF/Yr
Expense Ratio
40.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$424,140
Cap Rate 7%
$302,957
Cap Rate 9%
$235,633
Alternative Uses
Best Use
Healthcare Medical
$303.0K
$265.1K – $353.5K
NOI $21,207 @ 7.0% cap · market cap 8.00%
Second Best
Office B
$220.5K
$192.9K – $257.3K
NOI $15,435 @ 7.0% cap · market cap 5.82%
Theoretical Best
Specialty Retail
$339.5K
$297.0K – $396.0K
NOI $23,762 @ 7.0% cap · market cap 8.97%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
414
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 53115, WI
15,884
Population
8,848
Households
1.8
Avg Household Size
43
Median Age
25%
College-Educated
89%
High-School Grad
71.9 sq mi
ZIP Area
221
Density / Sq Mi
$70,880
Median Household Income
$38,871
Median Earnings
$1,012
Median Rent
$225,900
Median Home Value
Market
Vacancy Rate% for Office in Midwest region
Similar Off Market Nearby
- Christine Hartwig — 1107 Ann St, Delavan, WI 531151981
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- Jens Laura DVM — 1107 Ann St, Delavan, WI 53115
- Lee Betty DVM — 1107 Ann St, Delavan, WI 53115
Frequently Asked Questions
What type of property is this?
Medical Office Space - Planned delivery includes core improvements, leaving the remaining build-out available for customization.
Where is this medical office space located?
The property is located at 1-107 S Third Street Delavan, WI.
What is the asking price?
The asking price for this property is $265,000.
What are key features of this property?
This property features: 1,759‑square‑foot medical office suite; Planned delivery with drywall, lighting, electrical, and core improvements; Remaining build‑out can be customized
