Fully Occupied Commercial
For Sale
Contact for pricing
21 N Portland St, Fond du Lac, WI
Commercial complex with diverse tenants and ample parking for sale.
Property Size8,172 SF
Lot Size0.14 Acres
Price / SF$55.07
Days on Market289
Property Features for 21 N Portland St
General Information
Standard status
Active
Size
8,172 SF
Lot size
0.14 Acres
Property subtype
OFFICE
Listing Agency:
AC Commercial RE
(920) 539-7014
Listed By:
Thomas Ackerman
(920) 539-7014
Source:
Moodyscre
Added: Nov 6, 2025
Changed: Aug 9
Last Checked: Aug 21 at 1:59PM
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 AC Commercial RE
Investment Insights
Based on property information with market context.
This fully occupied commercial complex offers 7,000 square feet of rentable space. The property is currently home to a mix of tenants, including a coffee shop, health providers, a chiropractic office, and an escape room business. The 8,172 square foot complex benefits from ample public parking.
Key Highlights
- Fully occupied complex
- 7,000 sf of Rentable Space**
- Outstanding mix of tenants including a coffee shop, health providers, chiropractic office, and escape room
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
$36,827
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
8.18%
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%
$736,540
$736.5K
Cap Rate 7%
$526,100
$526.1K
Cap Rate 9%
$409,189
$409.2K
Market Conditions
NOI Build-Up for 8,172 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
$54.9K $6.72/SF
− Vacancy
−$2.3K −$0.28/SF
EGI
$52.6K $6.44/SF
− OpEx
−$15.8K −$1.93/SF
NOI
$36.8K $4.51/SF
Area
Fond du Lac County, WI
Vacancy
4.20%
Lease Rate
$6.72 /SF/Yr
Expense Ratio
30.00%
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%
$736,540
Cap Rate 7%
$526,100
Cap Rate 9%
$409,189
Alternative Uses
Best Use
Specialty Retail
$1.51M
$1.32M – $1.76M
NOI $105,688 @ 7.0% cap · market cap 23.49%
Second Best
Office B
$1.20M
$1.05M – $1.40M
NOI $84,186 @ 7.0% cap · market cap 18.71%
Theoretical Best
Multifamily LT 5
$7.87M
$6.89M – $9.19M
NOI $551,218 @ 7.0% cap · market cap 122.49%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,252
Businesses Nearby
Explore this area
Business Placement
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 building - Commercial complex with diverse tenants and ample parking for sale.
Where is this office building located?
The property is located at 21 N Portland St Fond du Lac, WI.
What is the asking price?
The asking price for this property is $450,000.
What are key features of this property?
This property features: Fully occupied complex; 7,000 sf of Rentable Space**; Outstanding mix of tenants including a coffee shop, health providers, chiropractic office, and escape room
