Listing Agency: FIRST WEBER h***@firstweber.com

Listed By: BRADLEY WOLDT · License #56821-90 Show Phone

Source: Exprealty

Added: Jun 19 Changed: Oct 23 Last Checked: Oct 23 at 1:28PM

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Investment Insights

Based on property information with market context.

This well-maintained commercial office building offers a flexible interior layout designed for multiple business needs. Inside, the property features an inviting entry area with high ceilings, an open workspace with four cubicles, three to four executive-sized offices, a conference room, and additional space for storage and copiers.

The building is positioned for visibility along Highway 51 N/S in a commercial area. A paved parking lot provides ample parking and potential display area, and a large/tall monument sign is visible from Highway 51.

Outfitted to support everyday office operations, the configuration includes both collaborative and private work areas, along with practical back-office space for storage and equipment.

Key Highlights

• 2,280 SF well‑maintained commercial office building on Highway 51 N/S
• Flexible interior layout with entry area, open space, 4 cubicles, 3–4 executive‑sized offices, and a conference room
• Includes storage area and space for copiers

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$22,728

Cap Rate

7.58%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$454,560 $454.6K

Cap Rate 7%

$324,686 $324.7K

Cap Rate 9%

$252,533 $252.5K

Is this asking price fair?

Market Conditions

NOI Build-Up for 2,280 SF

Gross rent

$38.9K $17.04/SF

− Vacancy

−$8.5K −$3.75/SF

EGI

$30.3K $13.29/SF

− OpEx

−$7.6K −$3.32/SF

NOI

$22.7K $9.97/SF

Area

Marathon County, WI

Vacancy

22.00%

Lease Rate

$17.04 /SF/Yr

Expense Ratio

25.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$454,560

Cap Rate 7%

$324,686

Cap Rate 9%

$252,533

Alternative Uses

Best Use

Office B

$324.7K

$284.1K – $378.8K (±1% cap)

NOI $22,728 @ 7.0% cap · market cap 7.58%

Second Best

—

—

no second resolved use

Theoretical Best

Specialty Retail

$421.2K

$368.6K – $491.5K (±1% cap)

NOI $29,487 @ 7.0% cap · market cap 9.83%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Who owns this building? See the owner, sales and loan history

Open Analytics

Current Use

Office buildings

Suggested Use

Top Pick HVAC Service (Bike/Boat/Book/etc) Store Parking Lot & Garage Home Appliance Store Pet Grooming Service Auto Repair Shop

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

Yes

Highway access

Location Intelligence

Trade Area within ½ mile

40

Businesses Nearby

Explore this area Business Placement

Demographics for 54455, WI

18,897

Population

8,058

Households

2.3

Avg Household Size

42

Median Age

31%

College-Educated

95%

High-School Grad

235.6 sq mi

ZIP Area

80

Density / Sq Mi

$94,609

Median Household Income

$50,076

Median Earnings

$1,041

Median Rent

$226,500

Median Home Value

Market

Vacancy Rate% for Office in Midwest region

13.7% 2019

15.6% 2020

17.1% 2021

18.9% 2022

21% 2023

22% 2024

21.3% 2025

Frequently Asked Questions

What type of property is this?

Office building - Well-maintained office building with multiple office rooms, conference space, and paved parking with monument signage access from Highway 51.

Where is this office building located?

The property is located at 1431 O Keefe Dr Kronenwetter, WI.

What is the asking price?

The asking price for this property is $299,900.

What are key features of this property?

This property features: 2,280 SF well‑maintained commercial office building on Highway 51 N/S; Flexible interior layout with entry area, open space, 4 cubicles, 3–4 executive‑sized offices, and a conference room; Includes storage area and space for copiers