Remodeled Commercial Building in
For Sale
Contact for pricing
102 W Clark St, Spencer, WI 54479
Well-maintained commercial building with shop, office, and storage space.
Property Size8,352 SF
Price / SF$95.77
Days on Market180
Property Features for 102 W Clark St
General Information
Standard status
Active
Size
8,352 SF
Property subtype
Retail
Building Details
Year Built
1996
Buildings
2
Listing Agency:
Nexthome partners
Listed By:
Brian Slinkman · License #WI 54190-90
Source:
Crexi
Added: Feb 12
Changed: Aug 8
Last Checked: Aug 11 at 5:41AM
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 Nexthome partners
Investment Insights
Based on property information with market context.
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.
Key Highlights
- 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.
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
$55,578
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
6.95%
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%
$1,111,560
$1.1M
Cap Rate 7%
$793,971
$794.0K
Cap Rate 9%
$617,533
$617.5K
Market Conditions
NOI Build-Up for 8,352 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
$85.2K $10.20/SF
− Vacancy
−$5.8K −$0.69/SF
EGI
$79.4K $9.51/SF
− OpEx
−$23.8K −$2.85/SF
NOI
$55.6K $6.65/SF
Area
Marathon County, WI
Vacancy
6.80%
Lease Rate
$10.20 /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%
$1,111,560
Cap Rate 7%
$793,971
Cap Rate 9%
$617,533
Alternative Uses
Best Use
Retail
$1.20M
$1.05M – $1.40M
NOI $84,013 @ 7.0% cap · market cap 10.50%
Second Best
Industrial
$794.0K
$694.7K – $926.3K
NOI $55,578 @ 7.0% cap · market cap 6.95%
Theoretical Best
Specialty Retail
$1.54M
$1.35M – $1.80M
NOI $108,016 @ 7.0% cap · market cap 13.50%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
66
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 54479, WI
3,838
Population
1,462
Households
2.6
Avg Household Size
39
Median Age
15%
College-Educated
85%
High-School Grad
76.8 sq mi
ZIP Area
50
Density / Sq Mi
$79,542
Median Household Income
$44,238
Median Earnings
$563
Median Rent
$175,100
Median Home Value
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Mike's Motorsports — 605 N Pacific St, Spencer, WI 54479
- Ford Service Spencer WI — 102 W Clark St, Spencer, WI 54479
Frequently Asked Questions
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 is the asking price?
The asking price for this property is $799,900.
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.
