Customizable Office
For Sale
$245,000
107 S Third St Unit 3, Delavan, WI 53115
Planned core improvements leave the remaining build-out open for customization.
Property Size1,495 SF
Price / SF$163.88
Days on Market74
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Property Features for 107 S Third St Unit 3
General Information
Standard status
Active
Size
1,495 SF
Additional Details
Utilities to Site
Yes
Listing Agency:
MELGES Real Estate, LLC
Listed By:
Berisha Cary · License #93986-94
(262) 949-3374
Source:
Jwregwi
Added: Aug 3
Changed: Oct 2
Last Checked: Oct 7 at 2:27PM
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 approximately 1,500-square-foot commercial suite will be delivered with drywall, lighting, electrical work, and core improvements completed. The remaining build-out can be customized for professional office, medical or healthcare, wellness and spa, boutique retail, or other approved business uses identified for the space.
The unit is located in Downtown Delavan’s Historic District, just off Brick Road, with visibility, convenient access, and abundant street parking. Renderings have been virtually enhanced, and the completed space may vary from the depicted finishes, layout, and build-out.
The unit is located in Downtown Delavan’s Historic District, just off Brick Road, with visibility, convenient access, and abundant street parking. Renderings have been virtually enhanced, and the completed space may vary from the depicted finishes, layout, and build-out.
Key Highlights
- Approximately 1,500 SF commercial suite
- Drywall, lighting, electrical, and core improvements completed before delivery
- Remaining 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.
How Realmo checks its estimates
Property Analytics
Current Use
Lease Details
Yes
Utilities to site
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 - Planned core improvements leave the remaining build-out open for customization.
Where is this office units located?
The property is located at 107 S Third St Unit 3 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: Approximately 1,500 SF commercial suite; Drywall, lighting, electrical, and core improvements completed before delivery; Remaining build‑out can be customized
