Gas Station With Convenience
For Sale
Contact for pricing
1828 S Ashland Ave, Green Bay, WI 54304
Fuel service, convenience retail, and a Little Caesars operation are identified at the property.
Property Size6,620 SF
Price / SF$287.92
Days on Market166
Property Features for 1828 S Ashland Ave
General Information
Standard status
Active
Size
6,620 SF
Property subtype
Retail
Occupancy
100%
Lease Type
Absolute Net
Investment Type
Net Lease
Net Operating Income
$133,435
Building Details
Year Built
1973
Year Renovated
2017
Tenancy
Single
Listing Agency:
Marcus & Millichap - Denver
Listed By:
Drew Isaac · License #CO FA.100023779
Source:
Crexi
Added: Mar 20
Changed: Aug 30
Last Checked: Aug 2 at 3:42AM
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 Marcus & Millichap - Denver
Investment Insights
Based on property information with market context.
This gas station property combines fuel service with convenience-store retail and a Little Caesars operation. The building contains 6,620 square feet and was constructed in 1973.
The property is located at 1828 S Ashland Ave in Green Bay, Wisconsin 54304. The recorded commercial asset type is a gas station.
The property is located at 1828 S Ashland Ave in Green Bay, Wisconsin 54304. The recorded commercial asset type is a gas station.
Key Highlights
- 6,620‑square‑foot building
- Constructed in 1973
- Fuel station with convenience‑store retail
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
$90,562
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
4.75%
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%
$1,811,240
$1.8M
Cap Rate 7%
$1,293,743
$1.3M
Cap Rate 9%
$1,006,244
$1.0M
Market Conditions
NOI Build-Up for 6,620 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
$127.1K $19.20/SF
− Vacancy
−$6.4K −$0.96/SF
EGI
$120.7K $18.24/SF
− OpEx
−$30.2K −$4.56/SF
NOI
$90.6K $13.68/SF
Area
Green Bay, WI
Vacancy
5.00%
Lease Rate
$19.20 /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%
$1,811,240
Cap Rate 7%
$1,293,743
Cap Rate 9%
$1,006,244
Alternative Uses
Best Use
Specialty Retail
$1.29M
$1.13M – $1.51M
NOI $90,562 @ 7.0% cap · market cap 4.75%
Second Best
Retail
$1.05M
$914.8K – $1.22M
NOI $73,180 @ 7.0% cap · market cap 3.84%
Theoretical Best
Office A
$1.54M
$1.35M – $1.80M
NOI $108,038 @ 7.0% cap · market cap 5.67%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
300
Businesses Nearby
73k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 81%
Hotels & Casinos 12%
Dining 7%
Kwik Trip
Shops & Services
36,921 visits/mo
0.2 miles
Shell
Shops & Services
11,205 visits/mo
0.1 miles
Circle K
Shops & Services
9,149 visits/mo
0.4 miles
Springhill Suites Green Bay
Hotels & Casinos
4,660 visits/mo
0.5 miles
Hilton Garden Inn Green Bay
Hotels & Casinos
4,270 visits/mo
0.4 miles
Demographics for 54304, WI
27,679
Population
12,997
Households
2.1
Avg Household Size
39
Median Age
28%
College-Educated
93%
High-School Grad
11.7 sq mi
ZIP Area
2,366
Density / Sq Mi
$60,369
Median Household Income
$38,926
Median Earnings
$935
Median Rent
$200,800
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?
Gas station - Fuel service, convenience retail, and a Little Caesars operation are identified at the property.
Where is this gas station located?
The property is located at 1828 S Ashland Ave Green Bay, WI.
What is the asking price?
The asking price for this property is $1,906,000.
What are key features of this property?
This property features: 6,620‑square‑foot building; Constructed in 1973; Fuel station with convenience‑store retail
