Versatile Commercial Property Near
For Sale
$340,000
645 Hawthorne Drive, Omro, WI 54963
3,100 sq ft commercial property suitable for various businesses.
Property Size3,100 SF
Price / SF$109.68
Days on Market632
Property Features for 645 Hawthorne Drive
General Information
Standard status
Active
Size
3,100 SF
Taxes and HOA fees
Annual Taxes
$6,430
Listing Agency:
Beiser Realty, LLC
(920) 582-4011
Listed By:
Andy Beiser · License #9052461
(920) 582-4011
Source:
Exprealty
Added: Dec 2, 2024
Changed: Aug 25
Last Checked: Aug 25 at 11:39AM
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 Beiser Realty, LLC
Investment Insights
Based on property information with market context.
This 3,100 sq. ft. commercial property, previously used as a vet clinic, is located off HWY 116 and HWY 21. The property includes garage access underneath and crawl space storage. It features a full bathroom in the basement and a public bathroom on the main level. Ample employee and guest parking is available. The versatile layout is suitable for customization, making it potentially ideal for retail, office, medical, or service-based enterprises.
Key Highlights
- 3,100 sq. ft. commercial space with a versatile layout, ideal for retail, office, medical, or service businesses.
- Located just off HWY 116 and HWY 21, offering high visibility and accessibility.
- Ample employee and guest parking.
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
$29,783
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
8.76%
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%
$595,660
$595.7K
Cap Rate 7%
$425,471
$425.5K
Cap Rate 9%
$330,922
$330.9K
Market Conditions
NOI Build-Up for 3,100 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
$46.5K $15.00/SF
− Vacancy
−$4.0K −$1.28/SF
EGI
$42.5K $13.73/SF
− OpEx
−$12.8K −$4.12/SF
NOI
$29.8K $9.61/SF
Area
Winnebago County, WI
Vacancy
8.50%
Lease Rate
$15.00 /SF/Yr
Expense Ratio
30.00%
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%
$595,660
Cap Rate 7%
$425,471
Cap Rate 9%
$330,922
Alternative Uses
Best Use
Healthcare Medical
$533.9K
$467.2K – $622.9K
NOI $37,374 @ 7.0% cap · market cap 10.99%
Second Best
Office B
$502.2K
$439.4K – $585.9K
NOI $35,154 @ 7.0% cap · market cap 10.34%
Theoretical Best
Office A
$669.1K
$585.5K – $780.6K
NOI $46,836 @ 7.0% cap · market cap 13.78%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
177
Businesses Nearby
Explore this area
Business Placement
Demographics for 54963, WI
7,454
Population
3,195
Households
2.3
Avg Household Size
43
Median Age
27%
College-Educated
95%
High-School Grad
76.1 sq mi
ZIP Area
98
Density / Sq Mi
$76,987
Median Household Income
$43,523
Median Earnings
$926
Median Rent
$218,700
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?
Mixed-use property - 3,100 sq ft commercial property suitable for various businesses.
Where is this mixed-use property located?
The property is located at 645 Hawthorne Drive Omro, WI.
What is the asking price?
The asking price for this property is $340,000.
What are key features of this property?
This property features: 3,100 sq. ft. commercial space with a versatile layout, ideal for retail, office, medical, or service businesses.; Located just off HWY 116 and HWY 21, offering high visibility and accessibility.; Ample employee and guest parking.
