Medical Office Unit with Seven
For Sale
$310,000
190 Gardner Ave Unit 3, Burlington, WI 53105
Professional medical-office unit with reception, break-room amenities, and a practical multi-room layout.
Property Size1,948 SF
Price / SF$159.14
Days on Market10
Property Features for 190 Gardner Ave Unit 3
General Information
Standard status
Active
Size
1,948 SF
Amenities
large lobby
waiting and reception area
7 private offices or exam rooms
kitchen/break room
bathroom
Building Details
Year Built
1980
Listing Agency:
Bear Realty Of Burlington
(262) 763-8116
Listed By:
Bradley Lois · License #5800490
Source:
Jwregwi
Added: Aug 21
Changed: Aug 29
Last Checked: Aug 29 at 11:43AM
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 Bear Realty Of Burlington
Investment Insights
Based on property information with market context.
This 1,948-square-foot medical office unit is configured for professional use with a generous lobby, dedicated waiting and reception areas, and 7 private offices or exam rooms. The interior also includes a kitchen/break room and 1 bathroom, providing a functional arrangement for office or clinical operations.
Built in 1980, the unit is located within a medical plaza at 190 Gardner Ave Unit 3 in Burlington, Wisconsin.
Built in 1980, the unit is located within a medical plaza at 190 Gardner Ave Unit 3 in Burlington, Wisconsin.
Key Highlights
- 1,948‑square‑foot medical office unit
- 7 private offices or exam rooms
- Large lobby with waiting and reception areas
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
$25,158
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
8.12%
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%
$503,160
$503.2K
Cap Rate 7%
$359,400
$359.4K
Cap Rate 9%
$279,533
$279.5K
Market Conditions
NOI Build-Up for 1,948 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
$40.9K $21.00/SF
− Vacancy
−$7.4K −$3.78/SF
EGI
$33.5K $17.22/SF
− OpEx
−$8.4K −$4.31/SF
NOI
$25.2K $12.92/SF
Area
Racine County, WI
Vacancy
18.00%
Lease Rate
$21.00 /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%
$503,160
Cap Rate 7%
$359,400
Cap Rate 9%
$279,533
Alternative Uses
Best Use
Office B
$359.4K
$314.5K – $419.3K
NOI $25,158 @ 7.0% cap · market cap 8.12%
Second Best
Healthcare Medical
$342.9K
$300.0K – $400.0K
NOI $24,001 @ 7.0% cap · market cap 7.74%
Theoretical Best
Office A
$468.5K
$409.9K – $546.5K
NOI $32,792 @ 7.0% cap · market cap 10.58%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
946
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 53105, WI
29,654
Population
12,995
Households
2.3
Avg Household Size
44
Median Age
28%
College-Educated
94%
High-School Grad
159.5 sq mi
ZIP Area
186
Density / Sq Mi
$88,798
Median Household Income
$48,254
Median Earnings
$1,029
Median Rent
$295,100
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?
Medical Office Space - Professional medical-office unit with reception, break-room amenities, and a practical multi-room layout.
Where is this medical office space located?
The property is located at 190 Gardner Ave Unit 3 Burlington, WI.
What is the asking price?
The asking price for this property is $310,000.
What are key features of this property?
This property features: 1,948‑square‑foot medical office unit; 7 private offices or exam rooms; Large lobby with waiting and reception areas
