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: Sep 8 Last Checked: Sep 9 at 10:36PM

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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 = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).

NOI / Yr

$11,136

Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.

Cap Rate

8.91%

Suggested Prices Based on Cap Rates Cap rates vary significantly by property type, market, and asset quality. Typical U.S. stable-market ranges: Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+) Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand) Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically) Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher) Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk) Self-Storage — 5.5% to 7.5% Medical Office — 6.0% to 7.5% Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term Rules of thumb: Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%). Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C. Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI. Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.

Cap Rate 5%

$222,720 $222.7K

Cap Rate 7%

$159,086 $159.1K

Cap Rate 9%

$123,733 $123.7K

Market Conditions

NOI Build-Up for 3,000 SF Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent. EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs. OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements. NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.

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 rates vary significantly by property type, market, and asset quality. Typical U.S. stable-market ranges: Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+) Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand) Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically) Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher) Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk) Self-Storage — 5.5% to 7.5% Medical Office — 6.0% to 7.5% Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term Rules of thumb: Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%). Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C. Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI. Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.

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.

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

Questions? Ask Rey

Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.

What type of property is this? Where is this flex space located? What is the asking price? Find similar properties What are key features of this property?

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