Restored Mixed-Use Brick
For Sale
$609,000
1135 Michigan Ave, Sheboygan, WI 53081
Restored brick construction, updated interiors, and a divisible three-suite commercial layout.
Property Size6,584 SF
Price / SF$92.50
Days on Market54
Property Features for 1135 Michigan Ave
General Information
Standard status
Active
Size
6,584 SF
Additional Details
Office Units
2
Amenities
original hardwood floors
modern lighting
cooled IT room
multiple kitchenettes
conference spaces
abundant natural light
Building Details
Year Built
1894
Construction
Cream City brick
Abandoned
No
Listing Agency:
NAI Pfefferle - Sheboygan
Listed By:
Dane Checolinski · License #8440294
(920) 783-6330
Source:
Nikolicgroup
Added: Aug 15
Changed: Oct 5
Last Checked: Oct 5 at 8:41PM
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 NAI Pfefferle - Sheboygan
Investment Insights
Based on property information with market context.
This restored Cream City brick property combines preserved architectural character with contemporary commercial improvements. Original hardwood flooring and other period details remain in place alongside updated lighting, windows, and doors. The building also includes a cooled IT room, multiple kitchenettes, conference areas, and substantial natural light.
Positioned at a prominent corner on Michigan Avenue in Downtown Sheboygan, the property is currently occupied by an expanding architectural firm. Its interior plan is configured for division into three commercial suites, with two office spaces and one tavern identified in the existing layout.
Positioned at a prominent corner on Michigan Avenue in Downtown Sheboygan, the property is currently occupied by an expanding architectural firm. Its interior plan is configured for division into three commercial suites, with two office spaces and one tavern identified in the existing layout.
Key Highlights
- Restored Cream City brick building with original hardwood floors and preserved architectural details
- Designed for division into three separate commercial suites
- Existing configuration includes two office spaces and one tavern
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$45,430
Cap Rate
7.46%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$908,600
$908.6K
Cap Rate 7%
$649,000
$649.0K
Cap Rate 9%
$504,778
$504.8K
Market Conditions
NOI Build-Up for 6,584 SF
Gross rent
$79.0K $12.00/SF
− Vacancy
−$6.3K −$0.96/SF
EGI
$72.7K $11.04/SF
− OpEx
−$27.3K −$4.14/SF
NOI
$45.4K $6.90/SF
Area
Sheboygan County, WI
Vacancy
8.00%
Lease Rate
$12.00 /SF/Yr
Expense Ratio
37.50%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$908,600
Cap Rate 7%
$649,000
Cap Rate 9%
$504,778
Alternative Uses
Best Use
Specialty Retail
$1.24M
$1.08M – $1.44M
NOI $86,573 @ 7.0% cap · market cap 14.22%
Second Best
Office B
$1.02M
$896.8K – $1.20M
NOI $71,744 @ 7.0% cap · market cap 11.78%
Theoretical Best
Office A
$1.43M
$1.26M – $1.67M
NOI $100,444 @ 7.0% cap · market cap 16.49%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
2
Office units
Location Intelligence
Trade Area within ½ mile
1,437
Businesses Nearby
Explore this area
Business Placement
Demographics for 53081, WI
43,465
Population
20,121
Households
2.2
Avg Household Size
38
Median Age
22%
College-Educated
90%
High-School Grad
23.3 sq mi
ZIP Area
1,865
Density / Sq Mi
$62,401
Median Household Income
$42,329
Median Earnings
$866
Median Rent
$169,700
Median Home Value
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Market
Vacancy Rate% for Office in Midwest region
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Restored brick construction, updated interiors, and a divisible three-suite commercial layout.
Where is this mixed-use property located?
The property is located at 1135 Michigan Ave Sheboygan, WI.
What is the asking price?
The asking price for this property is $609,000.
What are key features of this property?
This property features: Restored Cream City brick building with original hardwood floors and preserved architectural details; Designed for division into three separate commercial suites; Existing configuration includes two office spaces and one tavern
