Office Building with Private
New
For Sale
$399,900
1220 Parkwood Drive, Wisconsin Rapids, WI 54494
COMMERCIAL - Wisconsin Rapids, WI
Property Size3,200 SF
Lot Size0.88 Acres
Price / SF$124.97
Days on Market2
Property Features for 1220 Parkwood Drive
General Information
Property type
Commercial Sale
Property subtype
Other
Standard status
Active
Lot size
0.88 Acres
Building Details
Year built
1994
Listing Agency:
NextHome Partners
(715) 424-3000
Listed By:
Brian Slinkman · License #54190-90,PersonLicenseNumber
(715) 421-9168
Added: Aug 4
Last Checked: Aug 5 at 1:06AM
MLS# 22603746
Copyright © 2026 NextHome, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
Built in 1994, this 3,200-square-foot office building provides a professional layout centered on a reception lobby with multiple client seating areas. The property includes 10 private offices, most with water access, supporting a range of professional, medical, dental, wellness, salon, and related service uses. One office has a dedicated bathroom, and two additional restrooms serve the building.
A full unfinished basement adds substantial storage and future configuration options. It is plumbed for another bathroom and connects to the main level through two interior access points. The 0.88-acre property also includes a private parking lot with space for approximately 20 vehicles. Located at 1220 Parkwood Drive in Wisconsin Rapids, the building sits on the city's east side.
A full unfinished basement adds substantial storage and future configuration options. It is plumbed for another bathroom and connects to the main level through two interior access points. The 0.88-acre property also includes a private parking lot with space for approximately 20 vehicles. Located at 1220 Parkwood Drive in Wisconsin Rapids, the building sits on the city's east side.
Key Highlights
- 3,200‑square‑foot office building constructed in 1994
- 10 private offices, with water access in most spaces
- Reception lobby with multiple client seating areas
Financial Insights For Office B
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $48.0k | $15.00 |
| − Vacancy | −$10.1k | −$3.15 |
| EGI | $37.9k | $11.85 |
| − OpEx | −$9.5k | −$2.96 |
| NOI | $28.4k | $8.89 |
3,200 SF · lease $15.00/SF/yr · vacancy 21.00% · expense 25.00%
Alternative Uses
Best Use
Healthcare Medical
$551.1K
$482.2K – $643.0K
NOI $38,579 @ 7.0% cap · market cap 9.65%
Second Best
Office B
$406.3K
$355.5K – $474.0K
NOI $28,440 @ 7.0% cap · market cap 7.11%
Theoretical Best
Specialty Retail
$620.8K
$543.2K – $724.3K
NOI $43,456 @ 7.0% cap · market cap 10.87%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Office units
Location Intelligence
Trade Area within ½ mile
553
Businesses Nearby
Explore this area
Business Placement
Demographics for 54494, WI
27,420
Population
13,110
Households
2.1
Avg Household Size
47
Median Age
23%
College-Educated
95%
High-School Grad
125.3 sq mi
ZIP Area
219
Density / Sq Mi
$71,087
Median Household Income
$43,800
Median Earnings
$954
Median Rent
$170,800
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 building - Flexible professional setting with private offices, client reception areas, water access in most offices, and expansion-ready basement space.
Where is this office building located?
The property is located at 1220 Parkwood Drive Wisconsin Rapids, WI.
What is the asking price?
The asking price for this property is $399,900.
What are key features of this property?
This property features: 3,200‑square‑foot office building constructed in 1994; 10 private offices, with water access in most spaces; Reception lobby with multiple client seating areas
