Building Details

Year Built 1945

Listing Agency: RE/MAX Port Cities Realtors

Listed By: Peggy Kadow · License #5736690 Show Phone

Source: Nikolicgroup

Added: Jul 21 Changed: Oct 25 Last Checked: Oct 24 at 8:34PM

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Investment Insights

Based on property information with market context.

Zoned B1, this commercial property includes a warehouse-style building with 3-phase electrical service, bathroom facilities, and a kitchen area with additional living-facility space. Work is needed throughout, including any updates required to meet building code criteria if the living quarters concept is pursued; the buyer should verify those conditions with the Village of Saint Nazianz.

The site provides parking for approximately 15–20 cars, supporting on-site customer or worker access. Buyer should also confirm zoning and all applicable code requirements directly with the Village of Saint Nazianz.

The property is offered for sale as a single site totaling approximately 3,000 square feet, with on-site utilities and basic interior facilities already in place, subject to completion and code compliance.

Key Highlights

• Commercial site zoned B1
• On‑site parking for approximately 15–20 cars
• 3‑phase electrical service

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$11,136

Cap Rate

8.91%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$222,720 $222.7K

Cap Rate 7%

$159,086 $159.1K

Cap Rate 9%

$123,733 $123.7K

Is this asking price fair?

Market Conditions

NOI Build-Up for 3,000 SF

Gross rent

$16.2K $5.40/SF

− Vacancy

−$292 −$0.10/SF

EGI

$15.9K $5.30/SF

− OpEx

−$4.8K −$1.59/SF

NOI

$11.1K $3.71/SF

Area

Manitowoc County, WI

Vacancy

1.80%

Lease Rate

$5.40 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$222,720

Cap Rate 7%

$159,086

Cap Rate 9%

$123,733

Alternative Uses

Best Use

Flex RnD

$389.9K

$341.1K – $454.8K (±1% cap)

NOI $27,290 @ 7.0% cap · market cap 21.83%

Second Best

Warehouse

$193.2K

$169.0K – $225.4K (±1% cap)

NOI $13,522 @ 7.0% cap · market cap 10.82%

Theoretical Best

Specialty Retail

$657.5K

$575.3K – $767.0K (±1% cap)

NOI $46,022 @ 7.0% cap · market cap 36.82%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Flex space

Suggested Use

Top Pick Electrical Service Building Supply (Bike/Boat/Book/etc) Store Storage Facility Dental Office Kitchen & Bath Showroom

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

Yes

Heavy power

Location Intelligence

Trade Area within ½ mile

67

Businesses Nearby

Well-served

Demand for This Use

Explore this area Business Placement

Demographics for 54232, WI

714

Population

556

Households

1.3

Avg Household Size

43

Median Age

12%

College-Educated

97%

High-School Grad

0.8 sq mi

ZIP Area

893

Density / Sq Mi

$56,875

Median Household Income

$47,868

Median Earnings

$613

Median Rent

$128,400

Median Home Value

Market

Vacancy Rate% for Industrial in Midwest region

4.4% 2019

4.9% 2020

3.6% 2021

3.1% 2022

4.6% 2023

5% 2024

4.9% 2025

Frequently Asked Questions

What type of property is this?

Flex space - Warehouse-style commercial site with parking for 15–20 cars, 3-phase electrical, and bathroom and kitchen facilities.

Where is this flex space located?

The property is located at 108 S 4th Ave Saint Nazianz, WI.

What is the asking price?

The asking price for this property is $125,000.

What are key features of this property?

This property features: Commercial site zoned B1; On‑site parking for approximately 15–20 cars; 3‑phase electrical service