Office Building For
For Sale
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2187 N Stevens St, Rhinelander, WI 54501
Office building with long history available for purchase.
Property Size18,500 SF
Price / SF$131.27
Days on Market2206
Property Features for 2187 N Stevens St
General Information
Standard status
Active
Size
18,500 SF
Property subtype
Office
Building Details
Year Built
2006
Listing Agency:
NAI Pfefferle
Listed By:
T.J. Morice, SIOR · License #WI 89917-94
Source:
Crexi
Added: Jul 23, 2020
Changed: Jul 6
Last Checked: Aug 5 at 11:52AM
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 NAI Pfefferle
Investment Insights
Based on property information with market context.
This commercial real estate property is an office building with a size of 18500 square feet. The property has a long history.
Key Highlights
- Year Built: 2006
- Long history
Financial Insights For Office B
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $277.5k | $15.00 |
| − Vacancy | −$66.6k | −$3.60 |
| EGI | $210.9k | $11.40 |
| − OpEx | −$52.7k | −$2.85 |
| NOI | $158.2k | $8.55 |
18,500 SF · lease $15.00/SF/yr · vacancy 24.00% · expense 25.00%
Alternative Uses
Best Use
Office B
$2.26M
$1.98M – $2.64M
NOI $158,175 @ 7.0% cap · market cap 6.51%
Second Best
—
—
no second resolved use
Theoretical Best
Industrial
$8.66M
$7.58M – $10.10M
NOI $606,121 @ 7.0% cap · market cap 24.96%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
101
Businesses Nearby
Explore this area
Business Placement
Demographics for 54501, WI
20,591
Population
12,754
Households
1.6
Avg Household Size
48
Median Age
26%
College-Educated
96%
High-School Grad
366.3 sq mi
ZIP Area
56
Density / Sq Mi
$68,602
Median Household Income
$37,578
Median Earnings
$831
Median Rent
$194,900
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 building - Office building with long history available for purchase.
Where is this office building located?
The property is located at 2187 N Stevens St Rhinelander, WI.
What is the asking price?
The asking price for this property is $2,428,558.
What are key features of this property?
This property features: Year Built: 2006; Long history
