Solid Brick Office Building with
For Sale
$159,900
104 S Main Street, Marion, WI 54950
Solid brick office building in Marion, WI with a full basement and a newly paved concrete parking lot.
Property Size1,400 SF
Price / SF$114.21
Days on Market37
Property Features for 104 S Main Street
General Information
Standard status
Active
Size
1,400 SF
Taxes and HOA fees
Annual Taxes
$2,916
Building Details
Construction
brick
Listing Agency:
Century 21 Ace Realty
(920) 841-5374
Listed By:
Sandra DuFrane · License #9052028
(920) 841-5374
Source:
Exprealty
Added: Jul 6
Changed: Aug 8
Last Checked: Aug 11 at 12:03PM
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 Century 21 Ace Realty
Investment Insights
Based on property information with market context.
This solid brick office building includes a full basement and approximately 1,400 SF of space. The main level features a front entry/lobby and a spacious lobby area measuring 31 x 27. It also offers multiple offices sized 20 x 11 and 16 x 14, along with two bathrooms.
The property includes a brand new concrete parking lot and provides a convenient, self-contained layout for professional or service uses. The deed is restricted, and additional details are available upon request.
The interior configuration supports flexible tenanting within an office environment, with dedicated rooms for individual offices plus shared lobby and bathroom areas.
The property includes a brand new concrete parking lot and provides a convenient, self-contained layout for professional or service uses. The deed is restricted, and additional details are available upon request.
The interior configuration supports flexible tenanting within an office environment, with dedicated rooms for individual offices plus shared lobby and bathroom areas.
Key Highlights
- Approximately 1,400 SF solid brick office building
- Full basement
- Front entry/lobby and spacious lobby area (31 x 27)
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
$11,592
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
7.25%
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%
$231,840
$231.8K
Cap Rate 7%
$165,600
$165.6K
Cap Rate 9%
$128,800
$128.8K
Market Conditions
NOI Build-Up for 1,400 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
$21.0K $15.00/SF
− Vacancy
−$1.7K −$1.20/SF
EGI
$19.3K $13.80/SF
− OpEx
−$7.7K −$5.52/SF
NOI
$11.6K $8.28/SF
Area
Waupaca County, WI
Vacancy
8.00%
Lease Rate
$15.00 /SF/Yr
Expense Ratio
40.00%
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%
$231,840
Cap Rate 7%
$165,600
Cap Rate 9%
$128,800
Alternative Uses
Best Use
Office B
$219.4K
$192.0K – $256.0K
NOI $15,361 @ 7.0% cap · market cap 9.61%
Second Best
Healthcare Medical
$165.6K
$144.9K – $193.2K
NOI $11,592 @ 7.0% cap · market cap 7.25%
Theoretical Best
Office A
$262.2K
$229.5K – $305.9K
NOI $18,356 @ 7.0% cap · market cap 11.48%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
75
Businesses Nearby
Explore this area
Business Placement
Demographics for 54950, WI
3,086
Population
1,357
Households
2.3
Avg Household Size
44
Median Age
12%
College-Educated
90%
High-School Grad
81.8 sq mi
ZIP Area
38
Density / Sq Mi
$65,815
Median Household Income
$41,875
Median Earnings
$732
Median Rent
$151,900
Median Home Value
Market
Vacancy Rate% for Office in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office units - Solid brick office building in Marion, WI with a full basement and a newly paved concrete parking lot.
Where is this office units located?
The property is located at 104 S Main Street Marion, WI.
What is the asking price?
The asking price for this property is $159,900.
What are key features of this property?
This property features: Approximately 1,400 SF solid brick office building; Full basement; Front entry/lobby and spacious lobby area (31 x 27)
