Office Building with Private
For Sale
$399,900
1220 Parkwood Dr, Wisconsin Rapids, WI 54494
Most of the ten enclosed workspaces have water access, with a reception area and multiple restrooms serving the floor plan.
Property Size3,200 SF
Price / SF$124.04
Days on Market86
Property Features for 1220 Parkwood Dr
General Information
Standard status
Active
Size
3,200 SF
Total Parking Spaces
20
Taxes and HOA fees
Annual Taxes
$9,042
Building Details
Buildings
1
Building Size
3,200 SF
Listing Agency:
NEXTHOME PARTNERS
Listed By:
BRIAN SLINKMAN · License #54190-90,PersonLicenseNumber
(715) 421-9168
Source:
Exprealty
Added: Aug 3
Changed: Oct 26
Last Checked: Oct 26 at 9:18PM
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 NEXTHOME PARTNERS
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Investment Insights
Based on property information with market context.
The office property contains a reception lobby, ten private offices, and three restrooms. Most offices have water access, and one includes a private bathroom. The layout is suited to professional services, including medical, dental, wellness, and salon uses.
An unfinished basement provides storage, has plumbing for an additional bathroom, and can be reached from two points inside the building. A private parking lot accommodates approximately 20 vehicles.
An unfinished basement provides storage, has plumbing for an additional bathroom, and can be reached from two points inside the building. A private parking lot accommodates approximately 20 vehicles.
Key Highlights
- 10 private offices; most have water access
- One office has a private bathroom, plus two additional restrooms
- Unfinished basement with plumbing for an additional bathroom and access from two interior locations
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
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Market
Vacancy Rate% for Office in Midwest region
Frequently Asked Questions
What type of property is this?
Office building - Most of the ten enclosed workspaces have water access, with a reception area and multiple restrooms serving the floor plan.
Where is this office building located?
The property is located at 1220 Parkwood Dr 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; most have water access; One office has a private bathroom, plus two additional restrooms; Unfinished basement with plumbing for an additional bathroom and access from two interior locations
