Versatile Business Barn For
For Sale
$399,000
3929 County Road W, Port Washington, WI 53074
5,000 sq ft flex space with subdivision potential.
Property Size5,000 SF
Price / SF$79.80
Days on Market334
Property Features for 3929 County Road W
General Information
Standard status
Active
Size
5,000 SF
Listing Agency:
RE/MAX United - Port Washington
(414) 881-3293
Listed By:
Owen T Didier · License #8430994
(414) 881-3293
Source:
Exprealty
Added: Sep 30, 2025
Changed: Aug 28
Last Checked: Aug 28 at 4:59PM
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 RE/MAX United - Port Washington
Investment Insights
Based on property information with market context.
This 50x100 business barn offers 5,000 sq ft of space that can be utilized as a whole or split in half for rental opportunities. Unit #7 features two separate overhead doors and entries. Plumbing is roughed in for two bathrooms and two utility rooms. The unit is being sold as a shell, without heat, drywall, or bathrooms. It includes a 200 amp service, floor drain, and underfloor plumbing.
Key Highlights
- 5,000 sq ft Business Barn offers potential for dual usage.
- Ability to split the unit in half for separate rental income.
- Two separate overhead doors and entries for each potential unit.
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
$18,207
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
4.56%
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%
$364,140
$364.1K
Cap Rate 7%
$260,100
$260.1K
Cap Rate 9%
$202,300
$202.3K
Market Conditions
NOI Build-Up for 5,000 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
$27.4K $5.47/SF
− Vacancy
−$1.3K −$0.27/SF
EGI
$26.0K $5.20/SF
− OpEx
−$7.8K −$1.56/SF
NOI
$18.2K $3.64/SF
Area
Ozaukee County, WI
Vacancy
4.90%
Lease Rate
$5.47 /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%
$364,140
Cap Rate 7%
$260,100
Cap Rate 9%
$202,300
Alternative Uses
Best Use
Industrial
$260.1K
$227.6K – $303.5K
NOI $18,207 @ 7.0% cap · market cap 4.56%
Second Best
Flex RnD
$239.7K
$209.7K – $279.6K
NOI $16,778 @ 7.0% cap · market cap 4.21%
Theoretical Best
Office A
$1.18M
$1.03M – $1.37M
NOI $82,464 @ 7.0% cap · market cap 20.67%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
9
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 53074, WI
13,379
Population
5,859
Households
2.3
Avg Household Size
42
Median Age
36%
College-Educated
96%
High-School Grad
30.3 sq mi
ZIP Area
442
Density / Sq Mi
$78,944
Median Household Income
$48,089
Median Earnings
$1,024
Median Rent
$276,200
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 - 5,000 sq ft flex space with subdivision potential.
Where is this flex space located?
The property is located at 3929 County Road W Port Washington, WI.
What is the asking price?
The asking price for this property is $399,000.
What are key features of this property?
This property features: 5,000 sq ft Business Barn offers potential for dual usage.; Ability to split the unit in half for separate rental income.; Two separate overhead doors and entries for each potential unit.
