Office Building with Private
1220 Parkwood Drive, Wisconsin Rapids, WI 54494
For Sale
$399,900
Wisconsin Rapids, WI
Property Size3,200 SF
Lot Size0.88 Acres
Price / SF$124.04
Days on Market15
Property Features for 1220 Parkwood Drive
General Information
Property type
Property subtype
Standard status
Size
Lot size
Amenities
reception lobby
private offices with water access
full unfinished basement
Building Details
Year built
Buildings
Listing Agency:
NextHome Partners
(715) 424-3000
Listed By:
Brian Slinkman · License #54190-90,PersonLicenseNumber
Added: Oct 26
Changed: Nov 4
Last Checked: Nov 9 at 8:06AM
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.
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Investment Insights
Based on property information with market context.
This 3,224-square-foot office building contains 10 private offices and a reception lobby with seating areas. Water access is present in most offices. One office has a private bathroom, and two additional restrooms serve the building. A full unfinished basement offers storage, plumbing for another bathroom, and access from two interior points.
The property includes a private parking lot with capacity for approximately 20 vehicles. Built in 1994, the building occupies a 0.88-acre site in Wisconsin Rapids.
The property includes a private parking lot with capacity for approximately 20 vehicles. Built in 1994, the building occupies a 0.88-acre site in Wisconsin Rapids.
Key Highlights
- 10 private offices, with water access in most
- 3,224‑square‑foot building on a 0.88‑acre site
- Unfinished basement with storage, plumbing for an additional bathroom, and two interior access points
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
Office B
$409.3K
$358.2K – $477.6K
NOI $28,653 @ 7.0% cap · market cap 7.17%
Second Best
—
—
no second resolved use
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.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
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
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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 - A reception area, multiple restrooms, and on-site parking support a range of professional business operations.
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 offices, with water access in most; 3,224‑square‑foot building on a 0.88‑acre site; Unfinished basement with storage, plumbing for an additional bathroom, and two interior access points
