Customizable Office
For Sale
$265,000
107 S Third St Unit 1, Delavan, WI 53115
Suite includes core improvements, leaving the remaining interior build-out adaptable to the occupant’s needs.
Property Size1,759 SF
Price / SF$150.65
Days on Market79
Property Features for 107 S Third St Unit 1
General Information
Standard status
Active
Size
1,759 SF
Listing Agency:
MELGES Real Estate, LLC
Listed By:
Berisha Cary · License #93986-94
(262) 949-3374
Source:
Jwregwi
Added: Jul 28
Changed: Oct 6
Last Checked: Oct 7 at 2:29PM
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 MELGES Real Estate, LLC
Investment Insights
Based on property information with market context.
This office unit is located within Delavan’s Historic District and is configured as a commercial suite suitable for professional office, medical, healthcare, wellness, and spa-related services. The space will be delivered with drywall, lighting, electrical work, and core improvements completed, while the remaining build-out can be tailored to the final layout and finish requirements.
The property is at 107 S Third St, Unit 1, just off Brick Road, with convenient access and street parking nearby. Its downtown setting places the suite within an established historic district while retaining flexibility for a range of office and service-oriented configurations.
The property is at 107 S Third St, Unit 1, just off Brick Road, with convenient access and street parking nearby. Its downtown setting places the suite within an established historic district while retaining flexibility for a range of office and service-oriented configurations.
Key Highlights
- Office unit at 107 S Third St Unit 1, Delavan, WI 53115
- Located in Delavan’s Historic District
- Drywall, lighting, electrical, and core improvements included at delivery
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$21,207
Cap Rate
8.00%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$424,140
$424.1K
Cap Rate 7%
$302,957
$303.0K
Cap Rate 9%
$235,633
$235.6K
Market Conditions
NOI Build-Up for 1,759 SF
Gross rent
$38.6K $21.96/SF
− Vacancy
−$3.3K −$1.87/SF
EGI
$35.3K $20.09/SF
− OpEx
−$14.1K −$8.04/SF
NOI
$21.2K $12.06/SF
Area
Walworth County, WI
Vacancy
8.50%
Lease Rate
$21.96 /SF/Yr
Expense Ratio
40.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$424,140
Cap Rate 7%
$302,957
Cap Rate 9%
$235,633
Alternative Uses
Best Use
Healthcare Medical
$303.0K
$265.1K – $353.5K
NOI $21,207 @ 7.0% cap · market cap 8.00%
Second Best
Office B
$220.5K
$192.9K – $257.3K
NOI $15,435 @ 7.0% cap · market cap 5.82%
Theoretical Best
Specialty Retail
$339.5K
$297.0K – $396.0K
NOI $23,762 @ 7.0% cap · market cap 8.97%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
414
Businesses Nearby
Explore this area
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
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 - Suite includes core improvements, leaving the remaining interior build-out adaptable to the occupant’s needs.
Where is this office units located?
The property is located at 107 S Third St Unit 1 Delavan, WI.
What is the asking price?
The asking price for this property is $265,000.
What are key features of this property?
This property features: Office unit at 107 S Third St Unit 1, Delavan, WI 53115; Located in Delavan’s Historic District; Drywall, lighting, electrical, and core improvements included at delivery
