Office Building with Private
For Sale
$399,900
1220 Parkwood Drive, Wisconsin Rapids, WI 54494
Wisconsin Rapids, WI
Property Size3,200 SF
Lot Size0.88 Acres
Price / SF$124.04
Days on Market47
Property Features for 1220 Parkwood Drive
General Information
Property type
Commercial Sale
Property subtype
Other
Standard status
Active
Size
3,224 SF
Lot size
0.88 Acres
Amenities
full unfinished basement
water access in offices
private bathroom
Building Details
Year built
1994
Listing Agency:
NextHome Partners
(715) 424-3000
Listed By:
Brian Slinkman · License #54190-90,PersonLicenseNumber
(715) 421-9168
Added: Sep 1
Changed: Oct 16
Last Checked: Oct 17 at 5:06PM
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.
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Investment Insights
Based on property information with market context.
Built in 1994, this office building is arranged for professional service operations with a welcoming reception lobby, 10 private offices, and multiple restroom facilities. Most offices include water access, while one has a private bathroom, supporting a range of office-based and service-oriented layouts. The building also includes a full unfinished basement with storage capacity, plumbing for an additional bathroom, and two interior access points.
A private parking lot accommodates approximately 20 vehicles for staff and visitors. The property sits on 0.88 acres at 1220 Parkwood Drive in Wisconsin Rapids, Wisconsin, providing an established commercial setting for an owner-user or business seeking dedicated office space.
A private parking lot accommodates approximately 20 vehicles for staff and visitors. The property sits on 0.88 acres at 1220 Parkwood Drive in Wisconsin Rapids, Wisconsin, providing an established commercial setting for an owner-user or business seeking dedicated office space.
Key Highlights
- 10 private office spaces, most with water access
- Reception lobby with multiple client seating areas
- One private office includes its own bathroom
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$28,653
Cap Rate
7.17%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$573,060
$573.1K
Cap Rate 7%
$409,329
$409.3K
Cap Rate 9%
$318,367
$318.4K
Market Conditions
NOI Build-Up for 3,224 SF
Gross rent
$48.4K $15.00/SF
− Vacancy
−$10.2K −$3.15/SF
EGI
$38.2K $11.85/SF
− OpEx
−$9.6K −$2.96/SF
NOI
$28.7K $8.89/SF
Area
Wood County, WI
Vacancy
21.00%
Lease Rate
$15.00 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$573,060
Cap Rate 7%
$409,329
Cap Rate 9%
$318,367
Alternative Uses
Best Use
Healthcare Medical
$555.3K
$485.9K – $647.8K
NOI $38,869 @ 7.0% cap · market cap 9.72%
Second Best
Office B
$409.3K
$358.2K – $477.6K
NOI $28,653 @ 7.0% cap · market cap 7.17%
Theoretical Best
Specialty Retail
$625.5K
$547.3K – $729.7K
NOI $43,782 @ 7.0% cap · market cap 10.95%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in Midwest region
Frequently Asked Questions
What type of property is this?
Office building - Flexible professional facility with private offices, client reception areas, and a full unfinished basement.
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: 10 private office spaces, most with water access; Reception lobby with multiple client seating areas; One private office includes its own bathroom
