Flex Space with Overhead
For Sale
$200,000
242 West Edgewater Street, Portage, WI 53901
Commercial flex space supports retail, office, warehouse, and industrial uses, with overhead doors and private restrooms.
Property Size5,000 SF
Price / SF$40
Days on Market379
Property Features for 242 West Edgewater Street
General Information
Standard status
Active
Size
5,000 SF
Property subtype
Business/Comm / Apartment building
Zoning
Commercial
Net Operating Income
$16,850
Taxes and HOA fees
Annual Taxes
$5,619
Amenities
Full, Poured concrete foundatn, Walkout/Outside entrance
Overhead doors, Private Restrooms, Reception area, Display window, Internal sprinkler, Inside storage
Sellers/tenants personal property
Forced air
Brick, Steel
Building Details
Year Built
999
Listing Agency:
Weichert, Realtors - Great Day
(608) 393-9372
Listed By:
Mike Weyh · License #47937-94
(608) 393-9372
Source:
Compass
Added: Aug 18, 2025
Changed: Aug 30
Last Checked: Aug 30 at 4:39PM
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 Weichert, Realtors - Great Day
Investment Insights
Based on property information with market context.
This commercial flex property at 242 West Edgewater Street provides more than 5,000 square feet of adaptable space. The configuration includes a reception area, display window, private restrooms, interior storage, overhead doors, and an internal sprinkler system. A walkout or outside entrance and poured concrete foundation add to the building’s functional layout.
The property is positioned just off downtown in Portage, Wisconsin. Exterior construction incorporates brick and steel, while forced-air heating serves the building. Improvements identified for the property include a new roof, furnace, windows, and electrical system. The space is suited to a range of commercial formats, including retail, office, warehouse, and industrial operations.
The property is positioned just off downtown in Portage, Wisconsin. Exterior construction incorporates brick and steel, while forced-air heating serves the building. Improvements identified for the property include a new roof, furnace, windows, and electrical system. The space is suited to a range of commercial formats, including retail, office, warehouse, and industrial operations.
Key Highlights
- >5,000 square feet of commercial flex space
- Overhead doors with walkout or outside entrance
- Private restrooms, reception area, and display window
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
$13,021
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
6.51%
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%
$260,420
$260.4K
Cap Rate 7%
$186,014
$186.0K
Cap Rate 9%
$144,678
$144.7K
Market Conditions
NOI Build-Up for 5,000 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
$20.4K $4.08/SF
− Vacancy
−$367 −$0.07/SF
EGI
$20.0K $4.01/SF
− OpEx
−$7.0K −$1.40/SF
NOI
$13.0K $2.60/SF
Area
Columbia County, WI
Vacancy
1.80%
Lease Rate
$4.08 /SF/Yr
Expense Ratio
35.00%
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%
$260,420
Cap Rate 7%
$186,014
Cap Rate 9%
$144,678
Alternative Uses
Best Use
Industrial
$472.6K
$413.5K – $551.3K
NOI $33,080 @ 7.0% cap · market cap 16.54%
Second Best
Flex RnD
$186.0K
$162.8K – $217.0K
NOI $13,021 @ 7.0% cap · market cap 6.51%
Theoretical Best
Office A
$1.12M
$982.9K – $1.31M
NOI $78,631 @ 7.0% cap · market cap 39.32%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
441
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 53901, WI
14,924
Population
6,550
Households
2.3
Avg Household Size
42
Median Age
20%
College-Educated
91%
High-School Grad
147.3 sq mi
ZIP Area
101
Density / Sq Mi
$72,244
Median Household Income
$40,914
Median Earnings
$969
Median Rent
$214,300
Median Home Value
Market
Vacancy Rate% for Industrial in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Commercial flex space supports retail, office, warehouse, and industrial uses, with overhead doors and private restrooms.
Where is this flex space located?
The property is located at 242 West Edgewater Street Portage, WI.
What is the asking price?
The asking price for this property is $200,000.
What are key features of this property?
This property features: >5,000 square feet of commercial flex space; Overhead doors with walkout or outside entrance; Private restrooms, reception area, and display window
