Commercial Land with Existing
For Sale
$475,000
1000 S Spring St, Port Washington, WI 53074
Commercial land with an existing building, basement space, on-site parking, and flexibility for redevelopment or retail use.
Property Size3,240 SF
Price / SF$146.60
Days on Market49
Property Features for 1000 S Spring St
General Information
Standard status
Active
Size
3,240 SF
Building Details
Year Built
1976
Listing Agency:
Lannon Stone Realty LLC
(262) 242-8922
Listed By:
Brian Altman · License #43258-94
Source:
Nikolicgroup
Added: Jul 13
Changed: Aug 30
Last Checked: Aug 30 at 2:03AM
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 Lannon Stone Realty LLC
Investment Insights
Based on property information with market context.
This commercial land offering includes an existing 3,240-square-foot building constructed in 1976. The structure previously operated as an Italian restaurant and features a Spancrete floor above a substantial basement with a walk-out door. On-site parking serves the property, while the building provides an existing improvement for continued commercial use or potential redevelopment.
The property occupies a 1.4-acre lot at 1000 S Spring St in Port Washington, Wisconsin, positioned along a heavily traveled road leading into Port Washington. The site is suited to retail use or removal of the existing structure for new construction, subject to applicable approvals.
The property occupies a 1.4-acre lot at 1000 S Spring St in Port Washington, Wisconsin, positioned along a heavily traveled road leading into Port Washington. The site is suited to retail use or removal of the existing structure for new construction, subject to applicable approvals.
Key Highlights
- 1.4‑acre commercial land parcel at 1000 S Spring St, Port Washington, WI 53074
- Existing 3,240‑square‑foot building constructed in 1976
- Former Italian restaurant with existing commercial improvements
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
$41,883
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
8.82%
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%
$837,660
$837.7K
Cap Rate 7%
$598,329
$598.3K
Cap Rate 9%
$465,367
$465.4K
Market Conditions
NOI Build-Up for 3,240 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
$61.4K $18.96/SF
− Vacancy
−$1.6K −$0.49/SF
EGI
$59.8K $18.47/SF
− OpEx
−$17.9K −$5.54/SF
NOI
$41.9K $12.93/SF
Area
Ozaukee County, WI
Vacancy
2.60%
Lease Rate
$18.96 /SF/Yr
Expense Ratio
30.00%
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%
$837,660
Cap Rate 7%
$598,329
Cap Rate 9%
$465,367
Alternative Uses
Best Use
Retail
$598.3K
$523.5K – $698.1K
NOI $41,883 @ 7.0% cap · market cap 8.82%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$763.4K
$668.0K – $890.6K
NOI $53,437 @ 7.0% cap · market cap 11.25%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
239
Businesses Nearby
6k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 100%
BP
Shops & Services
6,085 visits/mo
0.1 miles
Demographics for 53074, WI
13,379
Population
5,859
Households
2.3
Avg Household Size
42
Median Age
36%
College-Educated
96%
High-School Grad
30.3 sq mi
ZIP Area
442
Density / Sq Mi
$78,944
Median Household Income
$48,089
Median Earnings
$1,024
Median Rent
$276,200
Median Home Value
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Commercial land - Commercial land with an existing building, basement space, on-site parking, and flexibility for redevelopment or retail use.
Where is this commercial land located?
The property is located at 1000 S Spring St Port Washington, WI.
What is the asking price?
The asking price for this property is $475,000.
What are key features of this property?
This property features: 1.4‑acre commercial land parcel at 1000 S Spring St, Port Washington, WI 53074; Existing 3,240‑square‑foot building constructed in 1976; Former Italian restaurant with existing commercial improvements
