Medical Office
190 Gardner Avenue #3, Burlington, WI 53105
For Sale
New
$310,000
A flexible professional layout includes dedicated reception, seven private rooms and a staff break area.
Property Size1,948 SF
Price / SF$159.14
Days on Market4
Property Features for 190 Gardner Avenue #3
General Information
Standard status
Size
Total Parking Spaces
Property subtype
Zoning
Additional Details
Property Use
Building Details
Building Size
Year Built
Listing Agency:
Bear Realty Of Burlington
(262) 763-8116
Listed By:
Bradley Lois · License #5800490
(262) 206-1691
Source:
Coactionrealestate
Added: Nov 6
Changed: Nov 8
Last Checked: Nov 8 at 2:59PM
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
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Investment Insights
Based on property information with market context.
This 1,948-square-foot medical office suite is located within a professional plaza. Its layout includes a large lobby with waiting and reception areas, seven private offices or exam rooms, a kitchen and break room, and one bathroom. The unit was built in 1980 and is zoned B-3.
The address is 190 Gardner Avenue #3 in Burlington, Wisconsin.
The address is 190 Gardner Avenue #3 in Burlington, Wisconsin.
Key Highlights
- 1,948‑square‑foot medical office suite
- Seven private offices or exam rooms
- Lobby, waiting area and reception space
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$25,158
Cap Rate
8.12%
Suggested Prices Based on Cap Rates
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
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 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.
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Current Use
Location Intelligence
Trade Area within ½ mile
946
Businesses Nearby
Under-served
Demand for This Use
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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
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Market
Vacancy Rate% for Office in Midwest region
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Frequently Asked Questions
What type of property is this?
Medical Office Space - A flexible professional layout includes dedicated reception, seven private rooms and a staff break area.
Where is this medical office space located?
The property is located at 190 Gardner Avenue #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 suite; Seven private offices or exam rooms; Lobby, waiting area and reception space
