NNN Flex Building with Garage
For Sale
$411,771
1210 Arndt St, Fort Atkinson, WI 53538
Freestanding commercial property occupied under a long-term NNN lease with office and service areas.
Property Size2,800 SF
Price / SF$147.06
Days on Market81
Property Features for 1210 Arndt St
General Information
Standard status
Active
Size
2,800 SF
Warehouse & Industrial
Drive-In Doors
2
Conditioned Warehouse
Yes
Additional Details
Office Units
1
Taxes and HOA fees
Annual Taxes
$4,658
Amenities
washer/dryer
kitchen
lounge/living room area
ozone sterilization
cameras
remote smart capabilities
Building Details
Year Renovated
2024
Buildings
1
Building Size
2,800 SF
Tenancy
Single
Owner Occupied
No
Listing Agency:
ALTUS Commercial Real Estate, Inc.
(608) 444-4111
Listed By:
Jeff Jansen · License #9047025
(608) 444-4111
Source:
Exprealty
Added: May 28
Changed: Aug 14
Last Checked: Aug 15 at 11:22AM
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 ALTUS Commercial Real Estate, Inc.
Investment Insights
Based on property information with market context.
This freestanding 2,800-square-foot flex property combines two heated and cooled garage bays with finished office and support areas. The bays include 12-foot-high by 12-foot-wide overhead doors, floor drains, washer and dryer connections, and water spigots. The office portion contains three rooms, a full bathroom, kitchen, and lounge or living area. Central heating and air conditioning serve the building, with ozone sterilization integrated into the HVAC system.
The property is leased on an NNN basis to DocGo Inc., doing business as Ryan Brothers Ambulance, through 7/31/29. Lease terms include two 1-year options and 3.5% annual increases. Improvements include a furnace installed in 2024, interior and exterior cameras, remote smart capabilities, and additional renovations completed in 2022 and 2018. The property is located at 1210 Arndt St in Fort Atkinson, Wisconsin.
The property is leased on an NNN basis to DocGo Inc., doing business as Ryan Brothers Ambulance, through 7/31/29. Lease terms include two 1-year options and 3.5% annual increases. Improvements include a furnace installed in 2024, interior and exterior cameras, remote smart capabilities, and additional renovations completed in 2022 and 2018. The property is located at 1210 Arndt St in Fort Atkinson, Wisconsin.
Key Highlights
- 2,800‑square‑foot freestanding flex building
- NNN lease to DocGo Inc., DBA Ryan Brothers Ambulance, through 7/31/29
- Two heated/cooled garage bays with 2 12' H x 12' W overhead doors
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
$25,506
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
6.19%
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%
$510,120
$510.1K
Cap Rate 7%
$364,371
$364.4K
Cap Rate 9%
$283,400
$283.4K
Market Conditions
NOI Build-Up for 2,800 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
$38.6K $13.80/SF
− Vacancy
−$2.2K −$0.79/SF
EGI
$36.4K $13.01/SF
− OpEx
−$10.9K −$3.90/SF
NOI
$25.5K $9.11/SF
Area
Jefferson County, WI
Vacancy
5.70%
Lease Rate
$13.80 /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%
$510,120
Cap Rate 7%
$364,371
Cap Rate 9%
$283,400
Alternative Uses
Best Use
Industrial
$364.4K
$318.8K – $425.1K
NOI $25,506 @ 7.0% cap · market cap 6.19%
Second Best
Flex RnD
$100.0K
$87.5K – $116.7K
NOI $7,002 @ 7.0% cap · market cap 1.70%
Theoretical Best
Office A
$657.2K
$575.1K – $766.8K
NOI $46,005 @ 7.0% cap · market cap 11.17%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Drive-in doors
1
Office units
Single-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
145
Businesses Nearby
Explore this area
Business Placement
Demographics for 53538, WI
18,643
Population
8,444
Households
2.2
Avg Household Size
43
Median Age
26%
College-Educated
92%
High-School Grad
97.1 sq mi
ZIP Area
192
Density / Sq Mi
$80,784
Median Household Income
$44,995
Median Earnings
$967
Median Rent
$228,200
Median Home Value
Market
Vacancy Rate% for Industrial in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
NNN property - Freestanding commercial property occupied under a long-term NNN lease with office and service areas.
Where is this nnn property located?
The property is located at 1210 Arndt St Fort Atkinson, WI.
What is the asking price?
The asking price for this property is $411,771.
What are key features of this property?
This property features: 2,800‑square‑foot freestanding flex building; NNN lease to DocGo Inc., DBA Ryan Brothers Ambulance, through 7/31/29; Two heated/cooled garage bays with 2 12' H x 12' W overhead doors
