Remodeled Lakeside Office
For Sale
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1021 Proctor Dr, Elkhorn, WI 53121
Remodeled office building with reception, meeting rooms, break room, and separate restrooms, overlooking Elkhorn Lake.
Property Size6,083 SF
Price / SF$1.00
Days on Market127
Property Features for 1021 Proctor Dr
General Information
Standard status
Active
Size
6,083 SF
Amenities
lakeside conference room
meeting spaces
executive office
reception area
break room
restrooms
updated mechanicals
backup generator
lakeside walking paths
Building Details
Year Built
1985
Listing Agency:
Shorewest Realtors, Inc.
Listed By:
Katherine Baumbach · License #4839190
(262) 745-5439
Source:
Tumpanelegacy
Added: Jun 19
Changed: Oct 17
Last Checked: Oct 21 at 1:19AM
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 Shorewest Realtors, Inc.
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Investment Insights
Based on property information with market context.
This exquisitely remodeled contemporary office building offers 6,083 SF and a layout designed around views of Elkhorn Lake. Over half of the offices overlook the water, supported by an elegant lakeside conference room and additional meeting spaces. The space also includes an executive office with dramatic floor-to-ceiling windows, a welcoming reception area, a break room, and separate restrooms.
The property features updated mechanical systems and a backup generator to support reliable operations. Lakeside walking paths add to the setting, and an adjoining extra lot provides potential for future expansion.
The building’s interior configuration supports both client-facing and day-to-day work areas, making it well suited for organizations that value a tranquil, lakefront work environment.
The property features updated mechanical systems and a backup generator to support reliable operations. Lakeside walking paths add to the setting, and an adjoining extra lot provides potential for future expansion.
The building’s interior configuration supports both client-facing and day-to-day work areas, making it well suited for organizations that value a tranquil, lakefront work environment.
Key Highlights
- Remodeled contemporary office building offering 6,083 SF with unobstructed Elkhorn Lake water views
- Over half the offices overlook the lake, plus an executive office with dramatic floor‑to‑ceiling windows
- Includes lakeside conference room, additional meeting spaces, and a welcoming reception area
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$53,378
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,067,560
$1.1M
Cap Rate 7%
$762,543
$762.5K
Cap Rate 9%
$593,089
$593.1K
Market Conditions
NOI Build-Up for 6,083 SF
Gross rent
$91.2K $15.00/SF
− Vacancy
−$20.1K −$3.30/SF
EGI
$71.2K $11.70/SF
− OpEx
−$17.8K −$2.93/SF
NOI
$53.4K $8.78/SF
Area
Walworth County, WI
Vacancy
22.00%
Lease Rate
$15.00 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,067,560
Cap Rate 7%
$762,543
Cap Rate 9%
$593,089
Alternative Uses
Best Use
Office B
$762.5K
$667.2K – $889.6K
NOI $53,378 @ 7.0% cap · market cap 875.05%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$1.17M
$1.03M – $1.37M
NOI $82,175 @ 7.0% cap · market cap 1,347.13%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
117
Businesses Nearby
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Business Placement
Demographics for 53121, WI
19,222
Population
8,397
Households
2.3
Avg Household Size
42
Median Age
33%
College-Educated
94%
High-School Grad
114.4 sq mi
ZIP Area
168
Density / Sq Mi
$83,635
Median Household Income
$45,112
Median Earnings
$1,031
Median Rent
$287,900
Median Home Value
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Market
Vacancy Rate% for Office in Midwest region
Frequently Asked Questions
What type of property is this?
Office building - Remodeled office building with reception, meeting rooms, break room, and separate restrooms, overlooking Elkhorn Lake.
Where is this office building located?
The property is located at 1021 Proctor Dr Elkhorn, WI.
What are key features of this property?
This property features: Remodeled contemporary office building offering 6,083 SF with unobstructed Elkhorn Lake water views; Over half the offices overlook the lake, plus an executive office with dramatic floor‑to‑ceiling windows; Includes lakeside conference room, additional meeting spaces, and a welcoming reception area
