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

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

Source: Exprealty

Added: Jun 19 Changed: Sep 8 Last Checked: Sep 8 at 7:58AM

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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 = 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

$22,728

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

7.58%

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%

$454,560 $454.6K

Cap Rate 7%

$324,686 $324.7K

Cap Rate 9%

$252,533 $252.5K

Market Conditions

NOI Build-Up for 2,280 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

$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 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%

$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.

Property Analytics

Property Profile

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

Questions? Ask Rey

Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.

What type of property is this? Where is this office buildings located? What is the asking price? Find similar properties What are key features of this property?

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