Automotive Shops with Multiple
For Sale
$1,400,000
1718 Memorial Drive, Howard, WI 54303
A 4,300 sq ft automotive building with four separate shop bays, each featuring a 10' overhead door, restroom, and natural gas heat.
Property Size4,300 SF
Lot Size1.00 Acre
Price / SF$325.58
Days on Market67
Property Features for 1718 Memorial Drive
General Information
Standard status
Active
Size
4,300 SF
Lot size
1.00 Acre
Zoning
B-2 Highway Commercial
Site & Location
Traffic Count
59,400 vehicles/day
Highway Access
Yes
Taxes and HOA fees
Annual Taxes
$3,806
Amenities
office/reception area
Listing Agency:
Evermore Realty
(715) 853-8460
Listed By:
A.J. Schmid
(715) 701-1959
Source:
Exprealty
Added: Jul 2
Changed: Aug 20
Last Checked: Sep 5 at 1:36PM
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 for-sale automotive property includes approximately 1+ acre across three parcels and an approximately 4,300 sq ft building configured as four separate shops. Each shop has its own overhead door (10') and separate entrance, plus a restroom and natural gas heat, with Shop 1 also including an office/reception area. The property currently operates as an automotive facility, and the existing layout may support other uses or a new development concept, subject to buyer verification.
The site is positioned for high visibility near the I-41 and Velp Ave interchange in the Village of Howard, with access adjacent to the highway and off-ramp. Per DOT, there are 59,400+ daily vehicles on I-41 (per provided remarks). The parcels are zoned B-2 Highway Commercial and include 120+ ft of Memorial Dr frontage.
The site offers ample asphalt and gravel parking. The sale is for real estate only, with businesses/tenants excluded. The buyer should verify zoning, acreage, and square footage for their intended use.
The site is positioned for high visibility near the I-41 and Velp Ave interchange in the Village of Howard, with access adjacent to the highway and off-ramp. Per DOT, there are 59,400+ daily vehicles on I-41 (per provided remarks). The parcels are zoned B-2 Highway Commercial and include 120+ ft of Memorial Dr frontage.
The site offers ample asphalt and gravel parking. The sale is for real estate only, with businesses/tenants excluded. The buyer should verify zoning, acreage, and square footage for their intended use.
Key Highlights
- Prime I‑41/Velp Ave interchange commercial site in the Village of Howard with DOT‑reported 59,400+ daily traffic on I‑41.
- 3 parcels totaling approx. 1+ acre, zoned B‑2 Highway Commercial, with 120+ ft of Memorial Dr frontage.
- Approx. 4,300 sq ft building featuring 4 separate shops, each with a 10' overhead door and a separate entrance.
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
$43,344
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
3.10%
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%
$866,880
$866.9K
Cap Rate 7%
$619,200
$619.2K
Cap Rate 9%
$481,600
$481.6K
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
$64.5K $15.00/SF
− Vacancy
−$2.6K −$0.60/SF
EGI
$61.9K $14.40/SF
− OpEx
−$18.6K −$4.32/SF
NOI
$43.3K $10.08/SF
Area
Brown County, WI
Vacancy
4.00%
Lease Rate
$15.00 /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%
$866,880
Cap Rate 7%
$619,200
Cap Rate 9%
$481,600
Alternative Uses
Best Use
Industrial
$2.96M
$2.59M – $3.45M
NOI $207,279 @ 7.0% cap · market cap 14.81%
Second Best
Retail
$619.2K
$541.8K – $722.4K
NOI $43,344 @ 7.0% cap · market cap 3.10%
Theoretical Best
Warehouse
$3.60M
$3.15M – $4.19M
NOI $251,695 @ 7.0% cap · market cap 17.98%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
59,400 VPD
Traffic count
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
228
Businesses Nearby
34k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 72%
Shops & Services 24%
Hotels & Casinos 4%
Taco Bell
Dining
16,851 visits/mo
BP
Shops & Services
7,702 visits/mo
0.3 miles
A&W Restaurant
Dining
7,492 visits/mo
0.3 miles
AmericInn
Hotels & Casinos
1,459 visits/mo
0.4 miles
Avis Budget Car Rental
Shops & Services
295 visits/mo
0.3 miles
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 Retail in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Auto shop - A 4,300 sq ft automotive building with four separate shop bays, each featuring a 10' overhead door, restroom, and natural gas heat.
Where is this auto shop located?
The property is located at 1718 Memorial Drive Howard, 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: Prime I‑41/Velp Ave interchange commercial site in the Village of Howard with DOT‑reported 59,400+ daily traffic on I‑41.; 3 parcels totaling approx. 1+ acre, zoned B‑2 Highway Commercial, with 120+ ft of Memorial Dr frontage.; Approx. 4,300 sq ft building featuring 4 separate shops, each with a 10' overhead door and a separate entrance.
