Four-Bay Auto Shop
For Sale
$1,400,000
1718 Memorial Dr, Green Bay, WI 54303
Four separate shop areas provide individual access, overhead doors, restrooms, and natural gas heat for automotive operations.
Property Size4,300 SF
Price / SF$325.58
Days on Market41
Property Features for 1718 Memorial Dr
General Information
Standard status
Active
Size
4,300 SF
Zoning
B-2 Highway Commercial
Site & Location
Traffic Count
59,400 vehicles/day
Highway Access
Yes
Road Access
Yes
Utilities to Site
Yes
Amenities
overhead doors
separate entrances
restrooms
natural gas heat
office/reception area
asphalt parking
gravel parking
Building Details
Year Built
1970
Buildings
1
Building Size
4,300 SF
Listing Agency:
Evermore Realty
(715) 701-1959
Listed By:
A.J. Schmid
Source:
Moving2greenbay
Added: Jul 21
Changed: Aug 30
Last Checked: Aug 25 at 5:12AM
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 Evermore Realty
Investment Insights
Based on property information with market context.
This 1970-built auto shop property includes an approximately 4,300-square-foot building arranged into four separate shop areas. Each area has its own entrance, a 10-foot overhead door, restroom, and natural gas heat. The first shop also contains an office and reception area. Asphalt and gravel parking serve the building, which is being offered as real estate only; businesses and tenants are excluded.
The property comprises three parcels totaling approximately 1+ acre and carries B-2 Highway Commercial zoning. It fronts Memorial Dr for 120+ feet and sits by the Interstate 41 and Velp Ave interchange in the Village of Howard, adjacent to the highway and off-ramp. DOT-reported traffic on I-41 exceeds 59,400 vehicles daily. The existing layout is identified as suitable for various uses or a new development concept, subject to buyer verification of zoning, acreage, and building area.
The property comprises three parcels totaling approximately 1+ acre and carries B-2 Highway Commercial zoning. It fronts Memorial Dr for 120+ feet and sits by the Interstate 41 and Velp Ave interchange in the Village of Howard, adjacent to the highway and off-ramp. DOT-reported traffic on I-41 exceeds 59,400 vehicles daily. The existing layout is identified as suitable for various uses or a new development concept, subject to buyer verification of zoning, acreage, and building area.
Key Highlights
- Four separate shops, each with a 10' overhead door, entrance, restroom, and natural gas heat
- Approximately 4,300 sq ft building with office/reception area in Shop 1
- Three parcels totaling approx. 1+ acre with B‑2 Highway Commercial zoning
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
$47,534
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
3.40%
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%
$950,680
$950.7K
Cap Rate 7%
$679,057
$679.1K
Cap Rate 9%
$528,156
$528.2K
Market Conditions
NOI Build-Up for 4,300 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
$72.2K $16.80/SF
− Vacancy
−$4.3K −$1.01/SF
EGI
$67.9K $15.79/SF
− OpEx
−$20.4K −$4.74/SF
NOI
$47.5K $11.05/SF
Area
Green Bay, WI
Vacancy
6.00%
Lease Rate
$16.80 /SF/Yr
Expense Ratio
30.00%
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%
$950,680
Cap Rate 7%
$679,057
Cap Rate 9%
$528,156
Alternative Uses
Best Use
Retail
$679.1K
$594.2K – $792.2K
NOI $47,534 @ 7.0% cap · market cap 3.40%
Second Best
Flex RnD
$552.0K
$483.0K – $644.0K
NOI $38,638 @ 7.0% cap · market cap 2.76%
Theoretical Best
Office A
$1.00M
$877.2K – $1.17M
NOI $70,176 @ 7.0% cap · market cap 5.01%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
59,400 VPD
Traffic count
Yes
Highway access
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
228
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 54303, WI
27,478
Population
13,088
Households
2.1
Avg Household Size
36
Median Age
18%
College-Educated
91%
High-School Grad
11.5 sq mi
ZIP Area
2,389
Density / Sq Mi
$58,110
Median Household Income
$38,983
Median Earnings
$859
Median Rent
$160,100
Median Home Value
Market
Vacancy Rate% for Industrial in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Crosby's Heavy Duty Wrecker Service — 1500 Velp Ave, Green Bay, WI 54303
- Transmotive Auto Service — 1641 Velp Ave, Green Bay, WI 54303
- Rebel Eddies Detailing — 1751 Velp Ave, Green Bay, WI 54303
- Grandpa John's Pick & Pull — 1746 Velp Ave, Green Bay, WI 54303
- Complete Auto Repair — 1810 Velp Ave, Green Bay, WI 54303
Frequently Asked Questions
What type of property is this?
Auto shop - Four separate shop areas provide individual access, overhead doors, restrooms, and natural gas heat for automotive operations.
Where is this auto shop located?
The property is located at 1718 Memorial Dr Green Bay, WI.
What is the asking price?
The asking price for this property is $1,400,000.
What are key features of this property?
This property features: Four separate shops, each with a 10' overhead door, entrance, restroom, and natural gas heat; Approximately 4,300 sq ft building with office/reception area in Shop 1; Three parcels totaling approx. 1+ acre with B‑2 Highway Commercial zoning
