Gas Station With Convenience
For Sale
$1,100,000
721 Fremont St, Kiel, WI 53042
COMMERCIAL - Kiel, WI
Property Size5,880 SF
Lot Size1.20 Acres
Price / SF$187.07
Days on Market299
Property Features for 721 Fremont St
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
B1
Directions
From WI-67, East on Fremont St property will be on the South side of Street.
Standard status
Active
APN
05169001400100
Size
5,880 SF
Lot size
1.20 Acres
Taxes and HOA fees
Tax Year
2023
Tax Annual Amount
5128
Amenities
Hot Food and Pizza service areas
Coffee Bar with sitting area
public restrooms
outbuilding for additional storage
Gas Canopy
Building Details
Year built
1975
Architectural style
Other
Listing Agency:
Century 21 Aspire Group · Century 21 Real Estate
(920) 663-1200
Listed By:
Brad Broecker · License #5888990
(920) 374-1282
Added: Nov 4, 2025
Changed: Aug 4
Last Checked: Aug 30 at 1:06PM
MLS# 1941940
Copyright © 2026 Metro MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This gas station and convenience store includes 5,880 square feet of retail and service space, with fuel sales, hot food and pizza areas, a coffee bar with seating, public restrooms, and additional local services. The property includes two double fuel pumps offering regular, midgrade, and premium grades. All equipment needed to continue the existing operation is included, and the oil agreement is fully transferable.
Built in 1975, the property sits on a 1.2-acre blacktop corner lot at 721 Fremont St in Kiel, Wisconsin. A 34-by-45-foot gas canopy was added in 2023. The site also includes an outbuilding for storage and additional land for expansion, with State Hwy 67 located less than 2 miles away. The property is zoned B1.
Built in 1975, the property sits on a 1.2-acre blacktop corner lot at 721 Fremont St in Kiel, Wisconsin. A 34-by-45-foot gas canopy was added in 2023. The site also includes an outbuilding for storage and additional land for expansion, with State Hwy 67 located less than 2 miles away. The property is zoned B1.
Key Highlights
- 5,880‑square‑foot convenience store with hot food, pizza, coffee seating, restrooms, and additional local services
- 1.2‑acre blacktop corner lot with an outbuilding and additional land for expansion
- Two double pumps offer regular, midgrade, and premium fuels
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
$90,202
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
8.20%
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%
$1,804,040
$1.8M
Cap Rate 7%
$1,288,600
$1.3M
Cap Rate 9%
$1,002,244
$1.0M
Market Conditions
NOI Build-Up for 5,880 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
$123.5K $21.00/SF
− Vacancy
−$3.2K −$0.55/SF
EGI
$120.3K $20.45/SF
− OpEx
−$30.1K −$5.11/SF
NOI
$90.2K $15.34/SF
Area
Manitowoc County, WI
Vacancy
2.60%
Lease Rate
$21.00 /SF/Yr
Expense Ratio
25.00%
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%
$1,804,040
Cap Rate 7%
$1,288,600
Cap Rate 9%
$1,002,244
Alternative Uses
Best Use
Specialty Retail
$1.29M
$1.13M – $1.50M
NOI $90,202 @ 7.0% cap · market cap 8.20%
Second Best
Retail
$1.09M
$950.1K – $1.27M
NOI $76,010 @ 7.0% cap · market cap 6.91%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Turnkey business
Opportunity
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
227
Businesses Nearby
3k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 100%
BP
Shops & Services
3,098 visits/mo
0.4 miles
Demographics for 53042, WI
6,886
Population
3,034
Households
2.3
Avg Household Size
45
Median Age
19%
College-Educated
91%
High-School Grad
62.0 sq mi
ZIP Area
111
Density / Sq Mi
$86,118
Median Household Income
$52,964
Median Earnings
$824
Median Rent
$223,100
Median Home Value
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Gas station - Operating facility combines fuel sales, convenience retail, hot food, pizza service, and a coffee seating area.
Where is this gas station located?
The property is located at 721 Fremont St Kiel, WI.
What is the asking price?
The asking price for this property is $1,100,000.
What are key features of this property?
This property features: 5,880‑square‑foot convenience store with hot food, pizza, coffee seating, restrooms, and additional local services; 1.2‑acre blacktop corner lot with an outbuilding and additional land for expansion; Two double pumps offer regular, midgrade, and premium fuels
