Office Building with
For Sale
Contact for pricing
316 Oakton Ave, Pewaukee, WI 53072
Alley-access garage provides on-site parking and storage for this versatile commercial property.
Property Size2,004 SF
Price / SF$187.13
Days on Market497
Property Features for 316 Oakton Ave
General Information
Standard status
Active
Size
2,004 SF
Property subtype
OFFICE
Additional Details
Highway Access
Yes
Listing Agency:
Newmark - Milwaukee WI
(262) 938-5058
Listed By:
Brian J Vanevenhoven · License #52951
(414) 347-9400
Source:
Moodyscre
Added: Apr 21, 2025
Changed: Aug 29
Last Checked: Aug 29 at 6:51PM
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 Newmark - Milwaukee WI
Investment Insights
Based on property information with market context.
This 2,004-square-foot office building includes a garage reached from the alley, creating dedicated space for parking and storage. The property has previously accommodated both a cafe and a financial office, supporting a range of commercial configurations within the existing building.
Located at 316 Oakton Ave in Pewaukee, the property is near Pewaukee Lake and offers access to Hwy 16 and I-94. The village has indicated support for additional expansion, building, or renovation, providing a basis for future improvement discussions.
Located at 316 Oakton Ave in Pewaukee, the property is near Pewaukee Lake and offers access to Hwy 16 and I-94. The village has indicated support for additional expansion, building, or renovation, providing a basis for future improvement discussions.
Key Highlights
- 2,004‑square‑foot office building
- Garage with alley access for parking and storage
- Previous cafe and financial office uses
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
$27,822
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
7.42%
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%
$556,440
$556.4K
Cap Rate 7%
$397,457
$397.5K
Cap Rate 9%
$309,133
$309.1K
Market Conditions
NOI Build-Up for 2,004 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
$49.8K $24.84/SF
− Vacancy
−$12.7K −$6.33/SF
EGI
$37.1K $18.51/SF
− OpEx
−$9.3K −$4.63/SF
NOI
$27.8K $13.88/SF
Area
Waukesha County, WI
Vacancy
25.48%
Lease Rate
$24.84 /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%
$556,440
Cap Rate 7%
$397,457
Cap Rate 9%
$309,133
Alternative Uses
Best Use
Office B
$397.5K
$347.8K – $463.7K
NOI $27,822 @ 7.0% cap · market cap 7.42%
Second Best
—
—
no second resolved use
Theoretical Best
Flex RnD
$1.02M
$894.9K – $1.19M
NOI $71,595 @ 7.0% cap · market cap 19.09%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
371
Businesses Nearby
Explore this area
Business Placement
Demographics for 53072, WI
26,687
Population
12,594
Households
2.1
Avg Household Size
45
Median Age
53%
College-Educated
98%
High-School Grad
29.8 sq mi
ZIP Area
896
Density / Sq Mi
$97,434
Median Household Income
$61,762
Median Earnings
$1,352
Median Rent
$424,300
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?
Office building - Alley-access garage provides on-site parking and storage for this versatile commercial property.
Where is this office building located?
The property is located at 316 Oakton Ave Pewaukee, WI.
What is the asking price?
The asking price for this property is $375,000.
What are key features of this property?
This property features: 2,004‑square‑foot office building; Garage with alley access for parking and storage; Previous cafe and financial office uses
