Commercial Land with Existing
For Sale
Contact for pricing
11920-11924 N Port Washington Rd, Mequon, WI 53092
Redevelopment site with an existing structure and exposure along a heavily traveled road.
Property Size5,807 SF
Price / SF$344.41
Days on Market1413
Property Features for 11920-11924 N Port Washington Rd
General Information
Standard status
Active
Size
5,807 SF
Property subtype
OFFICE
Listing Agency:
Founders 3 Real Estate Services - Corporate
(414) 801-3999
Listed By:
Ned Purtell · License #8084494
(414) 801-3999
Source:
Moodyscre
Added: Oct 18, 2022
Changed: Aug 29
Last Checked: Aug 29 at 11:54PM
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 Founders 3 Real Estate Services - Corporate
Investment Insights
Based on property information with market context.
This commercial land property includes an existing structure and supports two potential redevelopment approaches: reuse the current improvements or develop the site independently. The property encompasses 5,807 square feet and is positioned along N Port Washington Road in Mequon, Wisconsin.
The site records 11,900 AADT on Port Washington Road, providing a documented traffic setting for future commercial planning. It is situated equidistant from the Mequon Road and Highland interchanges, with the Highland interchange under construction. The address is 11920-11924 N Port Washington Rd.
The site records 11,900 AADT on Port Washington Road, providing a documented traffic setting for future commercial planning. It is situated equidistant from the Mequon Road and Highland interchanges, with the Highland interchange under construction. The address is 11920-11924 N Port Washington Rd.
Key Highlights
- 5,807‑square‑foot commercial land property
- Existing structure offers a reuse or site‑only redevelopment option
- 11,900 AADT on Port Washington Road
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
$75,067
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
3.75%
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%
$1,501,340
$1.5M
Cap Rate 7%
$1,072,386
$1.1M
Cap Rate 9%
$834,078
$834.1K
Market Conditions
NOI Build-Up for 5,807 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
$110.1K $18.96/SF
− Vacancy
−$2.9K −$0.49/SF
EGI
$107.2K $18.47/SF
− OpEx
−$32.2K −$5.54/SF
NOI
$75.1K $12.93/SF
Area
Ozaukee County, WI
Vacancy
2.60%
Lease Rate
$18.96 /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%
$1,501,340
Cap Rate 7%
$1,072,386
Cap Rate 9%
$834,078
Alternative Uses
Best Use
Retail
$1.07M
$938.3K – $1.25M
NOI $75,067 @ 7.0% cap · market cap 3.75%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.37M
$1.20M – $1.60M
NOI $95,774 @ 7.0% cap · market cap 4.79%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
830
Businesses Nearby
Explore this area
Business Placement
Demographics for 53092, WI
21,052
Population
8,983
Households
2.3
Avg Household Size
50
Median Age
69%
College-Educated
98%
High-School Grad
20.3 sq mi
ZIP Area
1,037
Density / Sq Mi
$126,431
Median Household Income
$70,327
Median Earnings
$1,962
Median Rent
$440,200
Median Home Value
Market
Vacancy Rate% for Retail 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?
Commercial land - Redevelopment site with an existing structure and exposure along a heavily traveled road.
Where is this commercial land located?
The property is located at 11920-11924 N Port Washington Rd Mequon, WI.
What is the asking price?
The asking price for this property is $2,000,000.
What are key features of this property?
This property features: 5,807‑square‑foot commercial land property; Existing structure offers a reuse or site‑only redevelopment option; 11,900 AADT on Port Washington Road
