Medical Office Building For
For Sale
$3,400,000
123 NORTHRIDGE STREET, Marshfield, WI 54449
20,361 SF building with leased and vacant space.
Property Size20,361 SF
Lot Size2.70 Acres
Price / SF$166.99
Days on Market163
Property Features for 123 NORTHRIDGE STREET
General Information
Standard status
Active
Size
20,361 SF
Lot size
2.70 Acres
Property subtype
Industrial
Zoning
Commercial
Lease Type
NNN
Building Details
Year Built
2001
Buildings
1
Stories
1
Units
2
Listed By:
Stevens Point Realty Inc.
(715) 544-0419
Source:
Stevenspointre.idxbroker
Added: May 17
Changed: Oct 25
Last Checked: Oct 24 at 1:39PM
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 Stevens Point Realty Inc.
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This 20,361 square foot building presents an investment opportunity. A portion of the building, 10,944 square feet, is currently leased to a tenant. The remaining 9,417 square feet is available for lease or owner occupancy. The building contains over 15 private offices, conference rooms, and a workroom with cubicles. Originally constructed for use as a medical facility, the building is equipped with a full sprinkler system and an alarm system. The property is situated on a 2.7-acre lot, providing ample parking for tenants.
Key Highlights
- Substantial 20,361 sq ft building with existing tenant.
- 10,944 sq ft currently leased to a strong tenant.**
- Significant 9,417 sq ft available for lease or owner occupancy.**
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$180,958
Cap Rate
5.32%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,619,160
$3.6M
Cap Rate 7%
$2,585,114
$2.6M
Cap Rate 9%
$2,010,644
$2.0M
Market Conditions
NOI Build-Up for 20,361 SF
Gross rent
$305.4K $15.00/SF
− Vacancy
−$64.1K −$3.15/SF
EGI
$241.3K $11.85/SF
− OpEx
−$60.3K −$2.96/SF
NOI
$181.0K $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%
$3,619,160
Cap Rate 7%
$2,585,114
Cap Rate 9%
$2,010,644
Alternative Uses
Best Use
Office B
$2.59M
$2.26M – $3.02M
NOI $180,958 @ 7.0% cap · market cap 5.32%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$3.95M
$3.46M – $4.61M
NOI $276,504 @ 7.0% cap · market cap 8.13%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
131
Businesses Nearby
Explore this area
Business Placement
Demographics for 54449, WI
26,417
Population
12,455
Households
2.1
Avg Household Size
43
Median Age
27%
College-Educated
94%
High-School Grad
172.4 sq mi
ZIP Area
153
Density / Sq Mi
$66,611
Median Household Income
$43,612
Median Earnings
$812
Median Rent
$194,400
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 - 20,361 SF building with leased and vacant space.
Where is this office building located?
The property is located at 123 NORTHRIDGE STREET Marshfield, WI.
What is the asking price?
The asking price for this property is $3,400,000.
What are key features of this property?
This property features: Substantial 20,361 sq ft building with existing tenant.; 10,944 sq ft currently leased to a strong tenant.**; Significant 9,417 sq ft available for lease or owner occupancy.**
