Retail Building with
For Sale
$799,900
2148 UNIVERSITY AVE, Green Bay, WI 54301
3,140 sq ft retail building on a 0.51-acre lot with ample parking, extensive window frontage, and a patio.
Property Size3,140 SF
Lot Size0.51 Acres
Price / SF$254.75
Days on Market183
Property Features for 2148 UNIVERSITY AVE
General Information
Standard status
Active
Size
3,140 SF
Lot size
0.51 Acres
Property subtype
General Commercial
Taxes and HOA fees
Annual Taxes
$8,053
Amenities
Central Air, Gas
3
Commercial
0.5 to .99
Building Details
Year Built
1966
Stories
1
Listing Agency:
Resource One Realty, LLC
(920) 983-5450
Listed By:
Jamie Depas · License #9477013
(920) 536-0125
Source:
Xome
Added: Mar 6
Changed: Sep 2
Last Checked: Sep 5 at 4:12AM
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 Resource One Realty, LLC
Investment Insights
Based on property information with market context.
This retail building offers approximately 3,140 square feet on a 0.51-acre lot with ample parking. The space features tons of windows for visibility and includes a patio, providing flexibility for multiple commercial uses. The building also has a brand new roof, and there are two prominent signs—one on each corner—intended to capture attention from multiple directions.
The property is positioned at the intersection of University Avenue and N. Danz. Its high-visibility frontage and corner signage support strong local exposure for retail, restaurant, or office use.
Overall, the configuration combines a window-forward exterior, an outdoor patio, and corner-mounted signage within a parking-ready site.
The property is positioned at the intersection of University Avenue and N. Danz. Its high-visibility frontage and corner signage support strong local exposure for retail, restaurant, or office use.
Overall, the configuration combines a window-forward exterior, an outdoor patio, and corner-mounted signage within a parking-ready site.
Key Highlights
- 3,140 sq ft commercial building on a 0.51‑acre lot
- High‑visibility corner location at University Avenue and N. Danz
- Ample parking, plus extensive window frontage and a patio
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
$42,955
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
5.37%
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%
$859,100
$859.1K
Cap Rate 7%
$613,643
$613.6K
Cap Rate 9%
$477,278
$477.3K
Market Conditions
NOI Build-Up for 3,140 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
$60.3K $19.20/SF
− Vacancy
−$3.0K −$0.96/SF
EGI
$57.3K $18.24/SF
− OpEx
−$14.3K −$4.56/SF
NOI
$43.0K $13.68/SF
Area
Green Bay, WI
Vacancy
5.00%
Lease Rate
$19.20 /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%
$859,100
Cap Rate 7%
$613,643
Cap Rate 9%
$477,278
Alternative Uses
Best Use
Specialty Retail
$613.6K
$536.9K – $715.9K
NOI $42,955 @ 7.0% cap · market cap 5.37%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$732.1K
$640.6K – $854.1K
NOI $51,245 @ 7.0% cap · market cap 6.41%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
363
Businesses Nearby
145k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 51%
Groceries 30%
Dining 17%
Electronics 1%
Skogen's Festival Foods
Groceries
44,145 visits/mo
0.3 miles
Kwik Trip
Shops & Services
38,441 visits/mo
0.3 miles
Dollar Tree
Shops & Services
13,691 visits/mo
0.4 miles
Taco Bell
Dining
8,866 visits/mo
0.1 miles
Burger King
Dining
6,643 visits/mo
0.2 miles
Demographics for 54301, WI
22,875
Population
10,532
Households
2.2
Avg Household Size
39
Median Age
38%
College-Educated
94%
High-School Grad
6.5 sq mi
ZIP Area
3,519
Density / Sq Mi
$76,768
Median Household Income
$45,717
Median Earnings
$929
Median Rent
$205,900
Median Home Value
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Conventional restaurant - 3,140 sq ft retail building on a 0.51-acre lot with ample parking, extensive window frontage, and a patio.
Where is this conventional restaurant located?
The property is located at 2148 UNIVERSITY AVE Green Bay, WI.
What is the asking price?
The asking price for this property is $799,900.
What are key features of this property?
This property features: 3,140 sq ft commercial building on a 0.51‑acre lot; High‑visibility corner location at University Avenue and N. Danz; Ample parking, plus extensive window frontage and a patio
