Medical Office Building with Specialized
For Sale
$3,450,000
2090 Continental Dr, West Bend, WI 53095
For-sale medical office occupied by multiple specialty providers with treatment rooms and imaging-ready infrastructure near Walmart.
Property Size11,272 SF
Days on Market54
Property Features for 2090 Continental Dr
General Information
Standard status
Active
Size
11,272 SF
Property subtype
Office
Building Details
Building Size
11,272 SF
Year Built
2007
Tenancy
Multi
Listing Agency:
Mid America Real Estate Milwaukee
(414) 390-1402
Listed By:
Dan Rosenfeld · License #55452
Source:
Midamericagrp
Added: Jun 29
Changed: Aug 16
Last Checked: Aug 21 at 5:53AM
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 Mid America Real Estate Milwaukee
Investment Insights
Based on property information with market context.
This property is a medical office building currently occupied by an established mix of specialty healthcare providers, including Wisconsin Orthodontics, Premier Endodontics, and Dermatology & Cosmetic Physicians. The building includes healthcare-specific improvements such as treatment rooms, specialized plumbing infrastructure, imaging capabilities, patient waiting areas, and administrative office space.
Strategically positioned on Continental Drive in West Bend, the asset benefits from strong visibility and convenient access along a primary commercial corridor. It is immediately adjacent to Walmart and surrounded by national retailers, healthcare providers, and established residential neighborhoods.
For buyers seeking a healthcare-focused asset, the existing layout and infrastructure support continuity with current specialty uses and provide flexibility for other medical users. The property is described as accommodating a variety of future healthcare needs, including dental, orthodontic, physical therapy, dermatology, wellness, and other specialty medical practices, which can help support long-term leasing options.
Strategically positioned on Continental Drive in West Bend, the asset benefits from strong visibility and convenient access along a primary commercial corridor. It is immediately adjacent to Walmart and surrounded by national retailers, healthcare providers, and established residential neighborhoods.
For buyers seeking a healthcare-focused asset, the existing layout and infrastructure support continuity with current specialty uses and provide flexibility for other medical users. The property is described as accommodating a variety of future healthcare needs, including dental, orthodontic, physical therapy, dermatology, wellness, and other specialty medical practices, which can help support long-term leasing options.
Key Highlights
- Medical office building built in 2007 with multiple specialized healthcare tenants
- Occupied by established specialty providers including Wisconsin Orthodontics, Premier Endodontics, and Dermatology & Cosmetic Physicians
- Healthcare‑focused improvements include treatment rooms, specialized plumbing infrastructure, imaging capabilities, patient waiting areas, and administrative offices
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
$160,270
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
4.65%
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%
$3,205,400
$3.2M
Cap Rate 7%
$2,289,571
$2.3M
Cap Rate 9%
$1,780,778
$1.8M
Market Conditions
NOI Build-Up for 11,272 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
$280.0K $24.84/SF
− Vacancy
−$66.3K −$5.88/SF
EGI
$213.7K $18.96/SF
− OpEx
−$53.4K −$4.74/SF
NOI
$160.3K $14.22/SF
Area
Washington County, WI
Vacancy
23.68%
Lease Rate
$24.84 /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%
$3,205,400
Cap Rate 7%
$2,289,571
Cap Rate 9%
$1,780,778
Alternative Uses
Best Use
Office B
$2.29M
$2.00M – $2.67M
NOI $160,270 @ 7.0% cap · market cap 4.65%
Second Best
Healthcare Medical
$2.10M
$1.84M – $2.45M
NOI $146,998 @ 7.0% cap · market cap 4.26%
Theoretical Best
Office A
$3.10M
$2.71M – $3.62M
NOI $216,919 @ 7.0% cap · market cap 6.29%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
442
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 53095, WI
27,269
Population
12,741
Households
2.1
Avg Household Size
45
Median Age
32%
College-Educated
96%
High-School Grad
70.4 sq mi
ZIP Area
387
Density / Sq Mi
$82,219
Median Household Income
$49,779
Median Earnings
$1,015
Median Rent
$286,500
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 - For-sale medical office occupied by multiple specialty providers with treatment rooms and imaging-ready infrastructure near Walmart.
Where is this medical office space located?
The property is located at 2090 Continental Dr West Bend, WI.
What is the asking price?
The asking price for this property is $3,450,000.
What are key features of this property?
This property features: Medical office building built in 2007 with multiple specialized healthcare tenants; Occupied by established specialty providers including Wisconsin Orthodontics, Premier Endodontics, and Dermatology & Cosmetic Physicians; Healthcare‑focused improvements include treatment rooms, specialized plumbing infrastructure, imaging capabilities, patient waiting areas, and administrative offices
