Multi-Tenant Office
For Sale
$999,000
2 Insight Dr, Platteville, WI 53818
Multi-tenant office building with nine suites and a stabilized rental history.
Property Size6,556 SF
Price / SF$152.38
Days on Market136
Property Features for 2 Insight Dr
General Information
Standard status
Active
Size
6,556 SF
Site & Location
Highway Access
Yes
Road Access
Yes
Additional Details
Cap Rate
6.7%
Office Units
9
Building Details
Year Built
1989
Tenancy
Multi
Listing Agency:
Equity Real Estate Group LLC
Listed By:
Troy Timmerman · License #8537094
(608) 778-8224
Source:
Kwlegacyrealty
Added: Apr 24
Changed: Sep 3
Last Checked: Sep 5 at 11:01AM
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 Equity Real Estate Group LLC
Investment Insights
Based on property information with market context.
This multi-tenant office facility is configured with nine individual office suites. The building is described as well maintained and currently supports multiple professional tenants, including Edward Jones Investments and AFLAC, along with tax services, staffing services, and other professional users. The property is presented as a stabilized investment with reported gross annual revenue of approximately $98,100.
The asset is positioned at a prominent intersection along a business highway, providing high visibility and easy access. The surrounding area is described as including retail, professional services, and dining, with frequent vehicular traffic.
As an investment-oriented office property, it offers a suite-based setup designed to support continued leasing across multiple tenants.
The asset is positioned at a prominent intersection along a business highway, providing high visibility and easy access. The surrounding area is described as including retail, professional services, and dining, with frequent vehicular traffic.
As an investment-oriented office property, it offers a suite-based setup designed to support continued leasing across multiple tenants.
Key Highlights
- Multi‑tenant office building with 9 individual office suites
- Current gross annual revenue around $98,100 and stabilized rental history
- Stated 6.7% cap rate
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
$90,961
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
9.11%
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%
$1,819,220
$1.8M
Cap Rate 7%
$1,299,443
$1.3M
Cap Rate 9%
$1,010,678
$1.0M
Market Conditions
NOI Build-Up for 6,556 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
$147.9K $22.56/SF
− Vacancy
−$26.6K −$4.06/SF
EGI
$121.3K $18.50/SF
− OpEx
−$30.3K −$4.62/SF
NOI
$91.0K $13.87/SF
Area
Grant County, WI
Vacancy
18.00%
Lease Rate
$22.56 /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%
$1,819,220
Cap Rate 7%
$1,299,443
Cap Rate 9%
$1,010,678
Alternative Uses
Best Use
Office B
$1.30M
$1.14M – $1.52M
NOI $90,961 @ 7.0% cap · market cap 9.11%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.81M
$1.59M – $2.12M
NOI $127,049 @ 7.0% cap · market cap 12.72%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
9
Office units
Multi-tenant
Tenancy
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
213
Businesses Nearby
Explore this area
Business Placement
Demographics for 53818, WI
15,786
Population
6,146
Households
2.6
Avg Household Size
28
Median Age
39%
College-Educated
93%
High-School Grad
154.4 sq mi
ZIP Area
102
Density / Sq Mi
$55,615
Median Household Income
$20,296
Median Earnings
$887
Median Rent
$214,200
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 units - Multi-tenant office building with nine suites and a stabilized rental history.
Where is this office units located?
The property is located at 2 Insight Dr Platteville, WI.
What is the asking price?
The asking price for this property is $999,000.
What are key features of this property?
This property features: Multi‑tenant office building with 9 individual office suites; Current gross annual revenue around $98,100 and stabilized rental history; Stated 6.7% cap rate
