Office and Warehouse Flex
For Sale
$449,900
1001 Union St, Stevens Point, WI 54481
Renovated office space with warehouse storage on a corner lot, including dedicated parking and loading access.
Property Size5,050 SF
Price / SF$89.09
Days on Market98
Property Features for 1001 Union St
General Information
Standard status
Active
Size
5,050 SF
Total Parking Spaces
12
Zoning
B2
Additional Details
Road Access
Yes
Taxes and HOA fees
Annual Taxes
$6,796
Building Details
Year Renovated
2002
Stories
2
Listing Agency:
eXp Realty, LLC
(715) 347-8571
Listed By:
RACHEL MIZGALSKI · License #5873290
(715) 347-8571
Source:
Exprealty
Added: May 21
Changed: Aug 25
Last Checked: Aug 25 at 10:00AM
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 eXp Realty, LLC
Investment Insights
Based on property information with market context.
This flex-style commercial property combines professional office space with a functional warehouse/storage area. The main level was renovated for office use in 2001–2002 and includes a formal entry, waiting and reception areas, multiple private offices, a conference room, printer/copy area, kitchenette, two restrooms, and a secondary rear entrance. An unfinished upper level offers expansion flexibility with room for up to three additional offices or storage rooms. The rear portion includes approximately 1,360 square feet of warehouse space used for storage and features a designated workshop room that is currently leased, with the tenant scheduled to vacate prior to closing unless otherwise negotiated. In addition, there is an unfinished lower-level area that can support additional storage or future expansion, totaling approximately 1,722 square feet.
Set on an expansive corner lot, the property provides convenient street parking plus a private paved parking lot with 12 dedicated stalls for employees or clients. The warehouse section has a separate entrance and a loading bay with direct access to Portage Street. Mechanical improvements include an updated boiler system for the in-floor heat, and a separate small electric water heater serving the office bathrooms and kitchenette. The building has 200 AMP electrical service and three separate utility meters.
With B2 – Central Business Transition zoning, the property is positioned to support a variety of permitted commercial uses, and a full list of approved uses is available upon request. The layout and multiple entrances offer practical options for office-plus-warehouse operations, storage-focused users, or segmented occupancy depending on tenant needs.
Set on an expansive corner lot, the property provides convenient street parking plus a private paved parking lot with 12 dedicated stalls for employees or clients. The warehouse section has a separate entrance and a loading bay with direct access to Portage Street. Mechanical improvements include an updated boiler system for the in-floor heat, and a separate small electric water heater serving the office bathrooms and kitchenette. The building has 200 AMP electrical service and three separate utility meters.
With B2 – Central Business Transition zoning, the property is positioned to support a variety of permitted commercial uses, and a full list of approved uses is available upon request. The layout and multiple entrances offer practical options for office-plus-warehouse operations, storage-focused users, or segmented occupancy depending on tenant needs.
Key Highlights
- Corner‑lot commercial building with 3,690 SF renovated main‑level office space plus 1,360 SF warehouse/storage area with loading bay access.
- Dedicated private paved parking lot with 12 employee/client stalls, plus convenient street parking.
- 2001–2002 office renovation includes formal entry, waiting area, reception space, multiple private offices, conference room, kitchenette, and two restrooms.
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
$16,742
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
3.72%
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%
$334,840
$334.8K
Cap Rate 7%
$239,171
$239.2K
Cap Rate 9%
$186,022
$186.0K
Market Conditions
NOI Build-Up for 5,050 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
$20.8K $4.11/SF
− Vacancy
−$1.1K −$0.21/SF
EGI
$19.7K $3.90/SF
− OpEx
−$3.0K −$0.59/SF
NOI
$16.7K $3.32/SF
Area
Portage County, WI
Vacancy
5.10%
Lease Rate
$4.11 /SF/Yr
Expense Ratio
15.00%
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%
$334,840
Cap Rate 7%
$239,171
Cap Rate 9%
$186,022
Alternative Uses
Best Use
Office B
$673.6K
$589.4K – $785.8K
NOI $47,150 @ 7.0% cap · market cap 10.48%
Second Best
Flex RnD
$654.2K
$572.4K – $763.2K
NOI $45,791 @ 7.0% cap · market cap 10.18%
Theoretical Best
Specialty Retail
$982.8K
$859.9K – $1.15M
NOI $68,795 @ 7.0% cap · market cap 15.29%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
980
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 54481, WI
28,100
Population
12,697
Households
2.2
Avg Household Size
32
Median Age
38%
College-Educated
96%
High-School Grad
65.6 sq mi
ZIP Area
428
Density / Sq Mi
$57,234
Median Household Income
$29,506
Median Earnings
$853
Median Rent
$191,700
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?
Flex space - Renovated office space with warehouse storage on a corner lot, including dedicated parking and loading access.
Where is this flex space located?
The property is located at 1001 Union St Stevens Point, WI.
What is the asking price?
The asking price for this property is $449,900.
What are key features of this property?
This property features: Corner‑lot commercial building with 3,690 SF renovated main‑level office space plus 1,360 SF warehouse/storage area with loading bay access.; Dedicated private paved parking lot with 12 employee/client stalls, plus convenient street parking.; 2001–2002 office renovation includes formal entry, waiting area, reception space, multiple private offices, conference room, kitchenette, and two restrooms.
