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    102 W Clark St Spencer, WI 54479

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    For Sale
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    Well-maintained commercial building with shop, office, and storage space.

    Property size:
    8,352 SF

    Property Features for 102 W Clark St

    General Information

    Standard status
    Active
    Size
    8,352 SF

    Building Details

    Year built
    1996

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    Listing Contact
    Brian Slinkman
    Source: Crexi

    Listing Agency: Nexthome partners Listing Agent: Brian Slinkman

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Overview

    Remodeled Commercial Building in Spencer

    This well-maintained and recently remodeled commercial building is located in Spencer, WI. Previously used as a Ford dealership, the property features over 8,000 square feet of space. The shop area comprises 4,800 square feet, with the remaining space dedicated to office areas and a parts department. The property benefits from access along four streets and includes a complete asphalt parking lot equipped with yard lights. The building experienced a fire on the east side in 2022, but all fire damage has been repaired. Updates include five new offices, new flooring, HVAC improvements, and a remodeled bathroom. The shop area includes five overhead doors, two of which are 14 feet tall. A detached 30 by 52 foot pole shed provides additional storage space and has two overhead doors. The property is suitable for automotive and retail businesses.
    Location Intelligence

    Current Use by Public Records

    Gross Ford Car Dealership Ford Service Department Car Rental Facility Gross Motors of Neillsville, ... Auto Parts Store Gross Ford Parts ... Auto Parts Store Ford Service Spencer ... Auto Repair Shop

    Suggested Use

    Restaurant Spa & Massage Center Building Supply Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon Auto Parts Store Department Store Kitchen & Bath Showroom

    Zoning and permitted uses should be independently verified with local authorities.

    Similar Places Nearby

    Mike's Motorsports, Ford Service Spencer WI

    Location Insight

    • Map
    • Local Demand
    City
    Spencer
    County
    Marathon
    State
    Wisconsin
    Longitude
    -90.298802
    Latitude
    44.757229

    Nearby Similar for Sale

    • $799,900

      Remodeled Commercial Building in Spencer

      Well-maintained commercial building with shop, office, and storage space.
      102 W Clark St, Spencer, WI 54479
      View Details
    • Contact for pricing
      3,240 SF

      Restaurant and Bar on 7 Acres

      Well-maintained restaurant and bar with upgrades on almost 7 acres.
      109300 County Road C, Spencer, WI 54479
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    FAQs

    What type of property is this?
    Auto shop - Well-maintained commercial building with shop, office, and storage space.
    Where is this auto shop located?
    The property is located at 102 W Clark St Spencer, WI.
    What are key features of this property?
    This property features: - Large commercial building with over 8,000 sq ft, including a **4,800 sq ft shop area**.; - Recently remodeled with updates including five new offices, flooring, HVAC, and bathroom remodel.; - **Five overhead doors in the shop**, including two that are 14 feet tall.
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    102 W Clark St Spencer, WI 54479
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    We can help!
    Listing Contact
    Brian Slinkman
    Real Estate License ID: 5419090
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