Brick Office Building with Lower
New
For Sale
$649,900
2330 Meadow Park Dr, Green Bay, WI 54311
Professionally used commercial property with attached office space, parking, and adaptable lower-level amenities.
Property Size3,850 SF
Price / SF$168.81
Days on Market2
Property Features for 2330 Meadow Park Dr
General Information
Standard status
Active
Size
3,850 SF
Total Parking Spaces
24
Amenities
kitchenette
rec room/meeting area
Building Details
Year Built
1987
Buildings
1
Construction
brick
Listing Agency:
Resource One Realty, LLC
(920) 265-5307
Listed By:
Jennifer A. Pierre
Source:
Moving2greenbay
Added: Aug 30
Changed: Aug 31
Last Checked: Aug 31 at 7:33PM
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.
Built in 1987, this 3,850-square-foot brick ranch is configured for professional office use and includes an attached office area. The property is currently zoned commercial and features a finished lower level with approximately 1,650 square feet, a kitchenette, a recreation or meeting room, and 1.5 bathrooms.
The site occupies a double lot with 24 parking spaces and a recently sealed blacktop surface. Located at 2330 Meadow Park Dr in Green Bay, the property also presents a potential live-work configuration, subject to approval and appropriate zoning from the Village of Bellevue. Any residential or mixed-use occupancy would require that approval.
The site occupies a double lot with 24 parking spaces and a recently sealed blacktop surface. Located at 2330 Meadow Park Dr in Green Bay, the property also presents a potential live-work configuration, subject to approval and appropriate zoning from the Village of Bellevue. Any residential or mixed-use occupancy would require that approval.
Key Highlights
- 3,850 SF brick ranch office property built in 1987
- Approximately 1,650 SF of finished lower‑level space
- Finished lower level includes kitchenette, recreation or meeting area, and 1.5 baths
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
$45,461
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
7.00%
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%
$909,220
$909.2K
Cap Rate 7%
$649,443
$649.4K
Cap Rate 9%
$505,122
$505.1K
Market Conditions
NOI Build-Up for 3,850 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
$73.9K $19.20/SF
− Vacancy
−$13.3K −$3.46/SF
EGI
$60.6K $15.74/SF
− OpEx
−$15.2K −$3.94/SF
NOI
$45.5K $11.81/SF
Area
Green Bay, WI
Vacancy
18.00%
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%
$909,220
Cap Rate 7%
$649,443
Cap Rate 9%
$505,122
Alternative Uses
Best Use
Office B
$649.4K
$568.3K – $757.7K
NOI $45,461 @ 7.0% cap · market cap 7.00%
Second Best
Mixed Use
$569.3K
$498.1K – $664.1K
NOI $39,848 @ 7.0% cap · market cap 6.13%
Theoretical Best
Office A
$897.6K
$785.4K – $1.05M
NOI $62,832 @ 7.0% cap · market cap 9.67%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
177
Businesses Nearby
Explore this area
Business Placement
Demographics for 54311, WI
37,532
Population
15,047
Households
2.5
Avg Household Size
38
Median Age
33%
College-Educated
94%
High-School Grad
68.2 sq mi
ZIP Area
550
Density / Sq Mi
$83,178
Median Household Income
$43,191
Median Earnings
$1,063
Median Rent
$272,400
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 - Professionally used commercial property with attached office space, parking, and adaptable lower-level amenities.
Where is this office building located?
The property is located at 2330 Meadow Park Dr Green Bay, WI.
What is the asking price?
The asking price for this property is $649,900.
What are key features of this property?
This property features: 3,850 SF brick ranch office property built in 1987; Approximately 1,650 SF of finished lower‑level space; Finished lower level includes kitchenette, recreation or meeting area, and 1.5 baths
