Flex Building With Shop
For Sale
$400,000
2509 Kirk St, Eau Claire, WI 54701
Office and restroom space accompany a large shop area, overhead doors, and on-site parking.
Property Size1,962 SF
Price / SF$203.87
Days on Market41
Property Features for 2509 Kirk St
General Information
Standard status
Active
Size
1,962 SF
Building Details
Year Built
1972
Listing Agency:
Donnellan Real Estate
(715) 836-8080
Listed By:
David Donnellan, Ned Donnellan · License #26150-90
Source:
Danrealtygroup
Added: Jul 21
Changed: Aug 28
Last Checked: Aug 29 at 12:18PM
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 Donnellan Real Estate
Investment Insights
Based on property information with market context.
This flex property includes dedicated office space, a bathroom, and a large shop area with overhead doors. The building is currently occupied by a lawn care and snow removal business and includes a large parking lot.
Built in 1972, the property is located at 2509 Kirk St in Eau Claire, Wisconsin, next to Starbucks Coffee.
Built in 1972, the property is located at 2509 Kirk St in Eau Claire, Wisconsin, next to Starbucks Coffee.
Key Highlights
- Flex building with office area, bathroom, and large shop
- Overhead doors serve the shop area
- Large on‑site parking lot
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
$15,652
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
3.91%
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%
$313,040
$313.0K
Cap Rate 7%
$223,600
$223.6K
Cap Rate 9%
$173,911
$173.9K
Market Conditions
NOI Build-Up for 1,962 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
$18.6K $9.48/SF
− Vacancy
−$186 −$0.09/SF
EGI
$18.4K $9.39/SF
− OpEx
−$2.8K −$1.41/SF
NOI
$15.7K $7.98/SF
Area
Eau Claire County, WI
Vacancy
1.00%
Lease Rate
$9.48 /SF/Yr
Expense Ratio
15.00%
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%
$313,040
Cap Rate 7%
$223,600
Cap Rate 9%
$173,911
Alternative Uses
Best Use
Industrial
$2.21M
$1.94M – $2.58M
NOI $155,002 @ 7.0% cap · market cap 38.75%
Second Best
Warehouse
$223.6K
$195.7K – $260.9K
NOI $15,652 @ 7.0% cap · market cap 3.91%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,035
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 Industrial 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?
Flex space - Office and restroom space accompany a large shop area, overhead doors, and on-site parking.
Where is this flex space located?
The property is located at 2509 Kirk St Eau Claire, WI.
What is the asking price?
The asking price for this property is $400,000.
What are key features of this property?
This property features: Flex building with office area, bathroom, and large shop; Overhead doors serve the shop area; Large on‑site parking lot
