Marshfield Commercial Building For
For Sale
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115-117 W Upham St, Marshfield, WI 54449
Commercial building with office, storage, and garage space available.
Property Size7,000 SF
Price / SF$90.64
Days on Market155
Property Features for 115-117 W Upham St
General Information
Standard status
Active
Size
7,000 SF
Property subtype
Office
Building Details
Year Built
1979
Units
1
Listing Agency:
Century 21 Gold Key Realty
(715) 387-2121
Listed By:
Rita Blenker · License #WI
Source:
Crexi
Added: Mar 10
Changed: Aug 8
Last Checked: Aug 11 at 5:48AM
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 Century 21 Gold Key Realty
Investment Insights
Based on property information with market context.
Located on Marshfield's north side, this commercial building offers two spaces suitable for investors or business owners. The main level features 3,000 square feet of office area along with 1,000 square feet of storage or garage space, accessible via an overhead door in the back. The lower level provides an additional 3,000 square feet of dry space and has a separate front entrance. Steel shelving is included in the lower level. Parking is available in both the front and back of the building. A reader sign board is also included with the property. The building is suitable for commercial real estate use, including office units, office spaces, warehouses, and industrial purposes.
Key Highlights
- Prime North side Marshfield location.
- Two leasable spaces for investment or business use.
- Main level: 3,000 sq ft office space + 1,000 sq ft storage/garage with overhead door.
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
$36,807
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
5.80%
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%
$736,140
$736.1K
Cap Rate 7%
$525,814
$525.8K
Cap Rate 9%
$408,967
$409.0K
Market Conditions
NOI Build-Up for 7,000 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
$45.9K $6.56/SF
− Vacancy
−$2.6K −$0.37/SF
EGI
$43.3K $6.19/SF
− OpEx
−$6.5K −$0.93/SF
NOI
$36.8K $5.26/SF
Area
Wood County, WI
Vacancy
5.70%
Lease Rate
$6.56 /SF/Yr
Expense Ratio
15.00%
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%
$736,140
Cap Rate 7%
$525,814
Cap Rate 9%
$408,967
Alternative Uses
Best Use
Office B
$888.8K
$777.7K – $1.04M
NOI $62,213 @ 7.0% cap · market cap 9.81%
Second Best
Warehouse
$525.8K
$460.1K – $613.5K
NOI $36,807 @ 7.0% cap · market cap 5.80%
Theoretical Best
Specialty Retail
$1.36M
$1.19M – $1.58M
NOI $95,061 @ 7.0% cap · market cap 14.98%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
104
Businesses Nearby
Explore this area
Business Placement
Demographics for 54449, WI
26,417
Population
12,455
Households
2.1
Avg Household Size
43
Median Age
27%
College-Educated
94%
High-School Grad
172.4 sq mi
ZIP Area
153
Density / Sq Mi
$66,611
Median Household Income
$43,612
Median Earnings
$812
Median Rent
$194,400
Median Home Value
Market
Vacancy Rate% for Office in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office units - Commercial building with office, storage, and garage space available.
Where is this office units located?
The property is located at 115-117 W Upham St Marshfield, WI.
What is the asking price?
The asking price for this property is $634,500.
What are key features of this property?
This property features: Prime North side Marshfield location.; Two leasable spaces for investment or business use.; Main level: **3,000 sq ft office space** + 1,000 sq ft storage/garage with overhead door.
