Medical Office
New
For Sale
$925,000
17 Waldo Blvd, Manitowoc, WI 54220
Two-story professional space includes private offices, reception and common areas, four bathrooms, and private parking.
Property Size6,736 SF
Price / SF$137.32
Days on Market5
Property Features for 17 Waldo Blvd
General Information
Standard status
Active
Size
6,736 SF
Property subtype
Commercial
Additional Details
Public Transit
Yes
Property Use
Office
Building Details
Year Built
1981
Buildings
1
Stories
2
Abandoned
No
Listing Agency:
Keller Williams-Manitowoc
Listed By:
August Richter · License #7641094
(920) 242-8417
Source:
Homesinwisconsin
Added: Oct 22
Changed: Oct 25
Last Checked: Oct 26 at 4:57PM
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 Keller Williams-Manitowoc
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Investment Insights
Based on property information with market context.
This 6,736-square-foot medical office property was built in 1981 and is arranged across two stories. Its existing professional and medical layout includes private offices, reception and shared areas, and four bathrooms. The exterior has been updated, and private parking is located behind the building.
The property is near Lake Michigan and Downtown Manitowoc, with retail, major traffic routes, nearby neighborhoods, and public transportation in the surrounding area. Its current buildout supports professional and medical office use.
The property is near Lake Michigan and Downtown Manitowoc, with retail, major traffic routes, nearby neighborhoods, and public transportation in the surrounding area. Its current buildout supports professional and medical office use.
Key Highlights
- 6,736‑square‑foot medical office property
- Two‑story building constructed in 1981
- Existing professional and medical office layout
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$82,994
Cap Rate
8.97%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,659,880
$1.7M
Cap Rate 7%
$1,185,629
$1.2M
Cap Rate 9%
$922,156
$922.2K
Market Conditions
NOI Build-Up for 6,736 SF
Gross rent
$149.5K $22.20/SF
− Vacancy
−$11.2K −$1.67/SF
EGI
$138.3K $20.54/SF
− OpEx
−$55.3K −$8.21/SF
NOI
$83.0K $12.32/SF
Area
Manitowoc County, WI
Vacancy
7.50%
Lease Rate
$22.20 /SF/Yr
Expense Ratio
40.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,659,880
Cap Rate 7%
$1,185,629
Cap Rate 9%
$922,156
Alternative Uses
Best Use
Healthcare Medical
$1.19M
$1.04M – $1.38M
NOI $82,994 @ 7.0% cap · market cap 8.97%
Second Best
Office B
$937.4K
$820.2K – $1.09M
NOI $65,616 @ 7.0% cap · market cap 7.09%
Theoretical Best
Specialty Retail
$1.48M
$1.29M – $1.72M
NOI $103,334 @ 7.0% cap · market cap 11.17%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
266
Businesses Nearby
Under-served
Demand for This Use
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Business Placement
Demographics for 54220, WI
40,737
Population
18,942
Households
2.2
Avg Household Size
44
Median Age
24%
College-Educated
91%
High-School Grad
98.7 sq mi
ZIP Area
413
Density / Sq Mi
$65,188
Median Household Income
$40,791
Median Earnings
$790
Median Rent
$159,500
Median Home Value
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Market
Vacancy Rate% for Office in Midwest region
Frequently Asked Questions
What type of property is this?
Medical Office Space - Two-story professional space includes private offices, reception and common areas, four bathrooms, and private parking.
Where is this medical office space located?
The property is located at 17 Waldo Blvd Manitowoc, WI.
What is the asking price?
The asking price for this property is $925,000.
What are key features of this property?
This property features: 6,736‑square‑foot medical office property; Two‑story building constructed in 1981; Existing professional and medical office layout
