Pewaukee Office Condo For
For Sale
Contact for pricing
N28 W23000 Roundy Dr, Pewaukee, WI 53072
Office condo with high visibility and easy access in Pewaukee.
Property Size1,461 SF
Lot Size9.91 Acres
Price / SF$239.56
Days on Market207
Property Features for N28 W23000 Roundy Dr
General Information
Standard status
Active
Size
1,461 SF
Lot size
9.91 Acres
Property subtype
OFFICE
Listing Agency:
The Barry Company
(262) 765-0010
Listed By:
Nicholas Zurich · License #8984194
(262) 765-0010
Source:
Moodyscre
Added: Jan 27
Changed: Jul 10
Last Checked: Aug 21 at 12:22PM
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 The Barry Company
Investment Insights
Based on property information with market context.
This office condo offers high visibility and easy access to the desirable Pewaukee North/South corridor. The property, with a size of 1461 square feet, includes access to a common conference or training area within the condo complex. It is located on Roundy Drive in Pewaukee, Wisconsin.
Key Highlights
- High visibility location
- Easy access to Pewaukee North/South corridor
- Office condo
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
$20,283
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
5.80%
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%
$405,660
$405.7K
Cap Rate 7%
$289,757
$289.8K
Cap Rate 9%
$225,367
$225.4K
Market Conditions
NOI Build-Up for 1,461 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
$36.3K $24.84/SF
− Vacancy
−$9.2K −$6.33/SF
EGI
$27.0K $18.51/SF
− OpEx
−$6.8K −$4.63/SF
NOI
$20.3K $13.88/SF
Area
Waukesha County, WI
Vacancy
25.48%
Lease Rate
$24.84 /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%
$405,660
Cap Rate 7%
$289,757
Cap Rate 9%
$225,367
Alternative Uses
Best Use
Office B
$289.8K
$253.5K – $338.1K
NOI $20,283 @ 7.0% cap · market cap 5.80%
Second Best
—
—
no second resolved use
Theoretical Best
Flex RnD
$745.7K
$652.5K – $869.9K
NOI $52,196 @ 7.0% cap · market cap 14.91%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
323
Businesses Nearby
Explore this area
Business Placement
Demographics for 53072, WI
26,687
Population
12,594
Households
2.1
Avg Household Size
45
Median Age
53%
College-Educated
98%
High-School Grad
29.8 sq mi
ZIP Area
896
Density / Sq Mi
$97,434
Median Household Income
$61,762
Median Earnings
$1,352
Median Rent
$424,300
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 units - Office condo with high visibility and easy access in Pewaukee.
Where is this office units located?
The property is located at N28 W23000 Roundy Dr Pewaukee, WI.
What is the asking price?
The asking price for this property is $350,000.
What are key features of this property?
This property features: High visibility location; Easy access to Pewaukee North/South corridor; Office condo
