Turn-Key Commercial Space Near
For Sale
$1,299,000
1701 Vogt Dr, West Bend, WI 53095
ADA-compliant 6,600 sq ft space near Froedtert Medical Center.
Property Size6,600 SF
Lot Size1.17 Acres
Price / SF$196.82
Days on Market105
Property Features for 1701 Vogt Dr
General Information
Standard status
Active
Size
6,600 SF
Lot size
1.17 Acres
Taxes and HOA fees
Annual Taxes
$16,314
Listing Agency:
Hanson & Co. Real Estate
(262) 353-1800
Listed By:
Katrina Hanson · License #5686990
(262) 353-1800
Source:
Exprealty
Added: May 11
Changed: Aug 23
Last Checked: Aug 23 at 4:14AM
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 Hanson & Co. Real Estate
Investment Insights
Based on property information with market context.
This 6,600 sq ft commercial space is located on a 1.17-acre parcel zoned B-1, offering potential for various business uses. Situated .25 miles from Hwy 45, the property benefits from high visibility and curb appeal in a high-traffic area across from Froedtert Medical Center. The ADA-compliant interior includes 5 large perimeter rooms with wet sinks, connected to 2 separate multi-stall restrooms featuring child-height and ADA accommodations. A 950 sq ft common area is complemented by a private office, 2 additional restrooms, and ample storage. The property features 3 forced air furnaces, updated windows, Hardie Plank siding, a newer roof, and a covered front entrance. A fenced 1/3 acre rear yard provides outdoor use potential. There are 35+ surface parking stalls. Community Business District zoning allows for uses such as a medical office suite, dental clinic, vet hospital, golf simulator, or gym.
Key Highlights
- 6,600 sq ft turn‑key, ADA‑compliant commercial space.
- High‑visibility location on a 1.17‑acre B‑1 zoned parcel near Hwy 45 and across from Froedtert Medical Center.
- Versatile Community Business District zoning allows for a wide range of business uses.
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
$73,616
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
5.67%
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%
$1,472,320
$1.5M
Cap Rate 7%
$1,051,657
$1.1M
Cap Rate 9%
$817,956
$818.0K
Market Conditions
NOI Build-Up for 6,600 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
$133.8K $20.28/SF
− Vacancy
−$16.1K −$2.43/SF
EGI
$117.8K $17.85/SF
− OpEx
−$44.2K −$6.69/SF
NOI
$73.6K $11.15/SF
Area
Washington County, WI
Vacancy
12.00%
Lease Rate
$20.28 /SF/Yr
Expense Ratio
37.50%
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%
$1,472,320
Cap Rate 7%
$1,051,657
Cap Rate 9%
$817,956
Alternative Uses
Best Use
Mixed Use
$1.05M
$920.2K – $1.23M
NOI $73,616 @ 7.0% cap · market cap 5.67%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.81M
$1.59M – $2.12M
NOI $127,011 @ 7.0% cap · market cap 9.78%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
449
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
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Mixed-use property - ADA-compliant 6,600 sq ft space near Froedtert Medical Center.
Where is this mixed-use property located?
The property is located at 1701 Vogt Dr West Bend, WI.
What is the asking price?
The asking price for this property is $1,299,000.
What are key features of this property?
This property features: 6,600 sq ft turn‑key, ADA‑compliant commercial space.; High‑visibility location on a 1.17‑acre B‑1 zoned parcel near Hwy 45 and across from Froedtert Medical Center.; Versatile Community Business District zoning allows for a wide range of business uses.
