Medical Office in Eau
For Sale
$2,999,000
659 W Hamilton Ave, Eau Claire, WI 54701
Move-in ready medical office space in a prime location.
Property Size15,000 SF
Price / SF$199.93
Days on Market133
Property Features for 659 W Hamilton Ave
General Information
Standard status
Active
Size
15,000 SF
Property subtype
Office
Building Details
Year Built
2004
Listing Agency:
(715) 318-8666
Listed By:
Ryan Erickson · License #WI #58263-90
Source:
Naiglobal
Added: Apr 1
Changed: Jul 10
Last Checked: Aug 11 at 5:50AM
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 Ryan Erickson
Investment Insights
Based on property information with market context.
This medical office property is located in the heart of the medical district in Eau Claire. The building encompasses just over 15,000 square feet and is designed to support efficient medical operations, featuring a functional layout suited for a variety of clinical uses. The property features high-quality construction, professional finishes, and an inviting environment. Its location within the established healthcare corridor provides convenient access for patients and proximity to other medical services, making it suitable for a growing or relocating practice.
Key Highlights
- Prime location in the heart of Eau Claire's medical district.
- Move‑in ready clinic space suitable for healthcare providers.
- Spacious 15,000+ square foot building.
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
$208,980
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
6.97%
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%
$4,179,600
$4.2M
Cap Rate 7%
$2,985,429
$3.0M
Cap Rate 9%
$2,322,000
$2.3M
Market Conditions
NOI Build-Up for 15,000 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
$360.0K $24.00/SF
− Vacancy
−$81.4K −$5.42/SF
EGI
$278.6K $18.58/SF
− OpEx
−$69.7K −$4.64/SF
NOI
$209.0K $13.93/SF
Area
Eau Claire County, WI
Vacancy
22.60%
Lease Rate
$24.00 /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%
$4,179,600
Cap Rate 7%
$2,985,429
Cap Rate 9%
$2,322,000
Alternative Uses
Best Use
Office B
$2.99M
$2.61M – $3.48M
NOI $208,980 @ 7.0% cap · market cap 6.97%
Second Best
Healthcare Medical
$2.88M
$2.52M – $3.36M
NOI $201,315 @ 7.0% cap · market cap 6.71%
Theoretical Best
Industrial
$16.93M
$14.81M – $19.75M
NOI $1,185,030 @ 7.0% cap · market cap 39.51%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
609
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 54701, WI
41,346
Population
17,932
Households
2.3
Avg Household Size
35
Median Age
42%
College-Educated
98%
High-School Grad
86.0 sq mi
ZIP Area
481
Density / Sq Mi
$71,406
Median Household Income
$37,658
Median Earnings
$963
Median Rent
$265,000
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?
Medical Office Space - Move-in ready medical office space in a prime location.
Where is this medical office space located?
The property is located at 659 W Hamilton Ave Eau Claire, WI.
What is the asking price?
The asking price for this property is $2,999,000.
What are key features of this property?
This property features: Prime location in the heart of Eau Claire's medical district.; Move‑in ready clinic space suitable for healthcare providers.; Spacious 15,000+ square foot building.
