Office Building with Private
New
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 Market1
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
Added: Sep 1
Last Checked: Sep 1 at 6:06PM
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.
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 = 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
$28,653
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
7.17%
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%
$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
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
$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 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%
$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.
Property Analytics
Property Profile
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
Market
Vacancy Rate% for Office in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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
