Office Suite with Custom
107 S Third St, Delavan, WI 53115
For Sale
$245,000
N, Delavan, WI
Property Size1,495 SF
Lot Size0.30 Acres
Price / SF$163.88
Days on Market141
Property Features for 107 S Third St
General Information
Property type
Property subtype
Zoning
Directions
Standard status
APN
Size
Lot size
Taxes and HOA fees
Tax Year
Building Details
Architectural style
Listing Agency:
MELGES Real Estate, LLC
(262) 249-7653
Listed By:
Berisha Cary · License WI 93986-94
(262) 949-3374
Added: Jun 23
Changed: Oct 12
Last Checked: Nov 10 at 8:06AM
MLS# 1968861
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.
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Investment Insights
Based on property information with market context.
This office suite is located in downtown Delavan’s Historic District and will be delivered with drywall, lighting, electrical service, and core improvements in place. The remaining build-out can be customized to establish the desired layout and finishes. The property information identifies approximately 1,500 SF in the remarks and 1,495 square feet in the property-size field; the conflicting measurements are not repeated here.
The suite is at 107 S Third St in Delavan, just off Brick Road, with convenient access and abundant street parking. The space is described as suitable for professional offices, medical or healthcare practices, wellness and spa services, boutique retail, and other commercial applications. Photos are renderings, and completed finishes, layouts, and build-out may vary.
The suite is at 107 S Third St in Delavan, just off Brick Road, with convenient access and abundant street parking. The space is described as suitable for professional offices, medical or healthcare practices, wellness and spa services, boutique retail, and other commercial applications. Photos are renderings, and completed finishes, layouts, and build-out may vary.
Key Highlights
- Downtown Delavan location within the Historic District
- Drywall, lighting, electrical service, and core improvements included at delivery
- Remaining interior build‑out can be customized
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$13,119
Cap Rate
5.35%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$262,380
$262.4K
Cap Rate 7%
$187,414
$187.4K
Cap Rate 9%
$145,767
$145.8K
Market Conditions
NOI Build-Up for 1,495 SF
Gross rent
$22.4K $15.00/SF
− Vacancy
−$4.9K −$3.30/SF
EGI
$17.5K $11.70/SF
− OpEx
−$4.4K −$2.93/SF
NOI
$13.1K $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%
$262,380
Cap Rate 7%
$187,414
Cap Rate 9%
$145,767
Alternative Uses
Best Use
Office B
$187.4K
$164.0K – $218.7K
NOI $13,119 @ 7.0% cap · market cap 5.35%
Second Best
Retail
$178.3K
$156.0K – $208.0K
NOI $12,478 @ 7.0% cap · market cap 5.09%
Theoretical Best
Specialty Retail
$288.5K
$252.5K – $336.6K
NOI $20,196 @ 7.0% cap · market cap 8.24%
Zoning and permitted uses should be independently verified with authorities.
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Location Intelligence
Trade Area within ½ mile
414
Businesses Nearby
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Business Placement
Demographics for 53115, WI
15,884
Population
8,848
Households
1.8
Avg Household Size
43
Median Age
25%
College-Educated
89%
High-School Grad
71.9 sq mi
ZIP Area
221
Density / Sq Mi
$70,880
Median Household Income
$38,871
Median Earnings
$1,012
Median Rent
$225,900
Median Home Value
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Market
Average Price Trend$/SF for Office Units in Walworth County, WI
Properties on Market for Office Units in Walworth County
Vacancy Rate% for Office in Midwest region
Frequently Asked Questions
What type of property is this?
Office unit - Commercially zoned suite in downtown Delavan with street parking and completed core improvements.
Where is this office unit located?
The property is located at 107 S Third St Delavan, WI.
What is the asking price?
The asking price for this property is $245,000.
What are key features of this property?
This property features: Downtown Delavan location within the Historic District; Drywall, lighting, electrical service, and core improvements included at delivery; Remaining interior build‑out can be customized
