Updated Two-Story Office
For Sale
Contact for pricing
1702 W Court, Janesville, WI 53548
Flexible office layout with conference space, furnished interiors, garage, parking, deck, and an ADA-compliant ramp.
Property Size1,170 SF
Price / SF$230.68
Days on Market134
Property Features for 1702 W Court
General Information
Standard status
Active
Size
1,170 SF
Property subtype
Retail, Office
Additional Details
Furnished
Yes
Amenities
conference room
back deck
ADA-compliant cedar ramp
Building Details
Year Built
1923
Buildings
2
Stories
2
Units
1
Listing Agency:
RE/MAX Top Choice
Listed By:
Nicholas Allen · License #57676-90
Source:
Crexi
Added: Apr 21
Changed: Aug 30
Last Checked: Aug 31 at 10:00PM
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 Top Choice
Investment Insights
Based on property information with market context.
Located at 1702 W Court in Janesville, this updated office building combines a traditional two-level layout with contemporary interior finishes. The main floor includes two office areas and a conference room, while the upper level adds a large office and an open landing suitable for shared use. Bathrooms are provided on both floors, and furniture and decor are included.
Exterior features include a detached one-car garage, a large parking lot, a rear deck, and a new ADA-compliant cedar ramp. Built in 1923, the property is positioned on Janesville’s westside.
Exterior features include a detached one-car garage, a large parking lot, a rear deck, and a new ADA-compliant cedar ramp. Built in 1923, the property is positioned on Janesville’s westside.
Key Highlights
- Updated office building at 1702 W Court, Janesville, WI 53548
- Two main‑level offices plus a conference room
- Upper‑level office with spacious open landing
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
$15,390
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
5.70%
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%
$307,800
$307.8K
Cap Rate 7%
$219,857
$219.9K
Cap Rate 9%
$171,000
$171.0K
Market Conditions
NOI Build-Up for 1,170 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
$26.0K $22.20/SF
− Vacancy
−$5.5K −$4.66/SF
EGI
$20.5K $17.54/SF
− OpEx
−$5.1K −$4.38/SF
NOI
$15.4K $13.15/SF
Area
Rock County, WI
Vacancy
21.00%
Lease Rate
$22.20 /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%
$307,800
Cap Rate 7%
$219,857
Cap Rate 9%
$171,000
Alternative Uses
Best Use
Office B
$219.9K
$192.4K – $256.5K
NOI $15,390 @ 7.0% cap · market cap 5.70%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$281.2K
$246.0K – $328.0K
NOI $19,681 @ 7.0% cap · market cap 7.29%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
499
Businesses Nearby
Explore this area
Business Placement
Demographics for 53548, WI
19,233
Population
8,894
Households
2.2
Avg Household Size
40
Median Age
27%
College-Educated
94%
High-School Grad
75.0 sq mi
ZIP Area
256
Density / Sq Mi
$74,696
Median Household Income
$41,508
Median Earnings
$999
Median Rent
$226,600
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 - Flexible office layout with conference space, furnished interiors, garage, parking, deck, and an ADA-compliant ramp.
Where is this office building located?
The property is located at 1702 W Court Janesville, WI.
What is the asking price?
The asking price for this property is $269,900.
What are key features of this property?
This property features: Updated office building at 1702 W Court, Janesville, WI 53548; Two main‑level offices plus a conference room; Upper‑level office with spacious open landing
