Riverfront Office
For Sale
$775,000
1519 E Washington St, West Bend, WI 53095
Solid office building offers multiple configurations and river-front views along Hwy 33.
Property Size3,971 SF
Price / SF$195.16
Days on Market282
Property Features for 1519 E Washington St
General Information
Standard status
Active
Size
3,971 SF
Site & Location
Highway Access
Yes
Road Access
Yes
Taxes and HOA fees
Annual Taxes
$8,572
Building Details
Tenancy
Multi
Listing Agency:
RE/MAX United - West Bend
(262) 689-0809
Listed By:
Scott Schneiberg · License #49128-90
(262) 689-0809
Source:
Exprealty
Added: Nov 17, 2025
Changed: Aug 20
Last Checked: Aug 26 at 10:23AM
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 - West Bend
Investment Insights
Based on property information with market context.
This stately, solidly built office building at 1519 E Washington St, West Bend, WI provides approximately 3,900+/- square feet of leasable business space. The layout supports multiple configurations, making it suitable for different operational setups within the same building. The property includes a parking lot that is described as approximately 3 years old, along with landscaped grounds and a multi-tenant sign out front.
The building is positioned on Hwy 33 and is described as offering a serene setting with picturesque river frontage and open green space. A 2009 proposed site plan is referenced as a potential expandability option, subject to review.
Overall, the asset is positioned as an office use with adaptable interior configuration and maintained exterior improvements, supported by the existing parking and site plan documentation.
The building is positioned on Hwy 33 and is described as offering a serene setting with picturesque river frontage and open green space. A 2009 proposed site plan is referenced as a potential expandability option, subject to review.
Overall, the asset is positioned as an office use with adaptable interior configuration and maintained exterior improvements, supported by the existing parking and site plan documentation.
Key Highlights
- 3900+/- SF of leasable business space in a solidly built office building on Hwy 33 in West Bend
- Multiple configurations available to fit different tenant or business needs
- Includes picturesque river frontage and open green space
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
$56,461
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
7.29%
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%
$1,129,220
$1.1M
Cap Rate 7%
$806,586
$806.6K
Cap Rate 9%
$627,344
$627.3K
Market Conditions
NOI Build-Up for 3,971 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
$98.6K $24.84/SF
− Vacancy
−$23.4K −$5.88/SF
EGI
$75.3K $18.96/SF
− OpEx
−$18.8K −$4.74/SF
NOI
$56.5K $14.22/SF
Area
Washington County, WI
Vacancy
23.68%
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%
$1,129,220
Cap Rate 7%
$806,586
Cap Rate 9%
$627,344
Alternative Uses
Best Use
Office B
$806.6K
$705.8K – $941.0K
NOI $56,461 @ 7.0% cap · market cap 7.29%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.09M
$955.2K – $1.27M
NOI $76,418 @ 7.0% cap · market cap 9.86%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
232
Businesses Nearby
Explore this area
Business Placement
Demographics for 53095, WI
27,269
Population
12,741
Households
2.1
Avg Household Size
45
Median Age
32%
College-Educated
96%
High-School Grad
70.4 sq mi
ZIP Area
387
Density / Sq Mi
$82,219
Median Household Income
$49,779
Median Earnings
$1,015
Median Rent
$286,500
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 - Solid office building offers multiple configurations and river-front views along Hwy 33.
Where is this office building located?
The property is located at 1519 E Washington St West Bend, WI.
What is the asking price?
The asking price for this property is $775,000.
What are key features of this property?
This property features: 3900+/- SF of leasable business space in a solidly built office building on Hwy 33 in West Bend; Multiple configurations available to fit different tenant or business needs; Includes picturesque river frontage and open green space
