Customizable Office
For Sale
$245,000
107 S Third St Unit 2, Delavan, WI 53115
Approximately 1,500-square-foot suite with core improvements and street parking in Delavan’s Historic District.
Property Size1,495 SF
Price / SF$163.88
Days on Market47
Property Features for 107 S Third St Unit 2
General Information
Standard status
Active
Size
1,495 SF
Listing Agency:
MELGES Real Estate, LLC
Listed By:
Berisha Cary · License #93986-94
(262) 949-3374
Source:
Jwregwi
Added: Sep 1
Changed: Oct 12
Last Checked: Oct 7 at 1:40PM
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
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This 1,495 SF office unit is being delivered with drywall, lighting, electrical work, and core improvements in place. The remaining build-out can be customized to suit the final layout and finish requirements. The suite supports a range of office and service-oriented applications, including professional offices, medical or healthcare practices, wellness services, and boutique retail.
The property is located at 107 S Third St Unit 2 in Delavan’s Historic District, just off Brick Road. Street parking is available nearby, and the suite offers access to the downtown setting. Rendered images depict a potential completed space; actual finishes, layout, and build-out may vary.
The property is located at 107 S Third St Unit 2 in Delavan’s Historic District, just off Brick Road. Street parking is available nearby, and the suite offers access to the downtown setting. Rendered images depict a potential completed space; actual finishes, layout, and build-out may vary.
Key Highlights
- 1,495 SF office unit at 107 S Third St Unit 2
- Located in Delavan’s Historic District, just off Brick Road
- Delivery includes drywall, lighting, electrical work, and core improvements
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$18,024
Cap Rate
7.36%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$360,480
$360.5K
Cap Rate 7%
$257,486
$257.5K
Cap Rate 9%
$200,267
$200.3K
Market Conditions
NOI Build-Up for 1,495 SF
Gross rent
$32.8K $21.96/SF
− Vacancy
−$2.8K −$1.87/SF
EGI
$30.0K $20.09/SF
− OpEx
−$12.0K −$8.04/SF
NOI
$18.0K $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%
$360,480
Cap Rate 7%
$257,486
Cap Rate 9%
$200,267
Alternative Uses
Best Use
Healthcare Medical
$257.5K
$225.3K – $300.4K
NOI $18,024 @ 7.0% cap · market cap 7.36%
Second Best
Office B
$187.4K
$164.0K – $218.7K
NOI $13,119 @ 7.0% cap · market cap 5.35%
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.
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
Frequently Asked Questions
What type of property is this?
Office units - Approximately 1,500-square-foot suite with core improvements and street parking in Delavan’s Historic District.
Where is this office units located?
The property is located at 107 S Third St Unit 2 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: 1,495 SF office unit at 107 S Third St Unit 2; Located in Delavan’s Historic District, just off Brick Road; Delivery includes drywall, lighting, electrical work, and core improvements
