Ranch-Style Office
For Sale
$334,000
1804 N Spring Street, Beaver Dam, WI 53916
COMMERCIAL - Beaver Dam, WI
Property Size1,561 SF
Lot Size0.75 Acres
Price / SF$213.97
Days on Market25
Property Features for 1804 N Spring Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
Commercial
Interior features
Public rest rooms, Private Restrooms, Reception area, Signage available, Inside storage, Outside storage, Private office(s)
Lot features
Business district, Free standing
Directions
N Spring St. Beaver Dam to location.
Subdivision
BEAVER DAM - C
Standard status
Active
APN
206-1214-2723-024
Size
1,561 SF
Lot size
0.75 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
2503
Building Details
Year built
1960
Number of units
1
Roof type
Composition
Additional Structures
Storage
Listing Agency:
Clear Choice Real Estate Services, LLC
(920) 885-2255
Listed By:
Matthew Chapman · License #52219-90 1689-4
(920) 885-2255
Added: Jul 17
Changed: Aug 10
Last Checked: Aug 10 at 6:06PM
MLS# 2021491
Copyright © 2026 REALTORS® Association of South Central Wisconsin. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 1,561-square-foot office property has a ranch-style layout with a reception room, four offices, two bathrooms, a waiting area, and a full kitchen with dinette. The basement adds a family room with a vintage bar and fireplace, along with additional storage. A two-car attached garage supports the building, while a separate 28-by-36-foot structure provides further utility and is currently leased.
The property is located on North Spring Street across from Fleet Farm and just off Highway 151, providing access toward Madison and Fond du Lac. Building improvements include vinyl siding installed in 2020, a roof installed in 2020, and vinyl windows installed in 2021. Interior features include public and private restrooms, signage availability, inside storage, outside storage, and private offices.
The property is located on North Spring Street across from Fleet Farm and just off Highway 151, providing access toward Madison and Fond du Lac. Building improvements include vinyl siding installed in 2020, a roof installed in 2020, and vinyl windows installed in 2021. Interior features include public and private restrooms, signage availability, inside storage, outside storage, and private offices.
Key Highlights
- 1,561 SF office building on North Spring Street
- Ranch‑style layout with reception, 4 offices, 2 bathrooms, waiting area, and kitchen/dinette
- Basement family room includes vintage bar and fireplace
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
$18,123
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
5.43%
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%
$362,460
$362.5K
Cap Rate 7%
$258,900
$258.9K
Cap Rate 9%
$201,367
$201.4K
Market Conditions
NOI Build-Up for 1,561 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
$28.1K $18.00/SF
− Vacancy
−$3.9K −$2.52/SF
EGI
$24.2K $15.48/SF
− OpEx
−$6.0K −$3.87/SF
NOI
$18.1K $11.61/SF
Area
Dodge County, WI
Vacancy
14.00%
Lease Rate
$18.00 /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%
$362,460
Cap Rate 7%
$258,900
Cap Rate 9%
$201,367
Alternative Uses
Best Use
Office B
$258.9K
$226.5K – $302.1K
NOI $18,123 @ 7.0% cap · market cap 5.43%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$339.1K
$296.7K – $395.6K
NOI $23,737 @ 7.0% cap · market cap 7.11%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
185
Businesses Nearby
Explore this area
Business Placement
Demographics for 53916, WI
23,057
Population
11,001
Households
2.1
Avg Household Size
42
Median Age
27%
College-Educated
94%
High-School Grad
103.6 sq mi
ZIP Area
223
Density / Sq Mi
$72,704
Median Household Income
$48,218
Median Earnings
$932
Median Rent
$212,200
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 - Commercial workspace with reception, private offices, storage, and an attached garage.
Where is this office building located?
The property is located at 1804 N Spring Street Beaver Dam, WI.
What is the asking price?
The asking price for this property is $334,000.
What are key features of this property?
This property features: 1,561 SF office building on North Spring Street; Ranch‑style layout with reception, 4 offices, 2 bathrooms, waiting area, and kitchen/dinette; Basement family room includes vintage bar and fireplace
