Remodeled Lakeside Office
1021 Proctor Dr Elkhorn, WI 53121
For Sale
$950,000
Remodeled office building with reception, meeting rooms, break room, and separate restrooms, overlooking Elkhorn Lake.
Property Size6,083 SF
Price / SF$156.17
Days on Market74
Property Features for 1021 Proctor Dr
General Information
- Standard status
- Active
- Size
- 6,083 SF
Listing Agency:
Shorewest Realtors, Inc.
(262) 745-5439
Listed By:
Katherine Baumbach · License #4839190
(262) 745-5439
Source:
Exprealty
Added: May 12
Changed: Jul 23
Last Checked: Jul 23 at 7:26AM
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.
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 For Office B
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $91.2k | $15.00 |
| − Vacancy | −$20.1k | −$3.30 |
| EGI | $71.2k | $11.70 |
| − OpEx | −$17.8k | −$2.93 |
| NOI | $53.4k | $8.78 |
6,083 SF · lease $15.00/SF/yr · vacancy 22.00% · expense 25.00%
Alternative Uses
Best Use
Office B
$762.5K
$667.2K – $889.6K
NOI $53,378 @ 7.0% cap · market cap 5.62%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$1.17M
$1.03M – $1.37M
NOI $82,175 @ 7.0% cap · market cap 8.65%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Balsitis Contracting
Construction Company
FAQs
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 is the asking price?
The asking price for this property is $950,000.
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
