Office Building with Covered
For Sale
$975,000
245 N Peters Ave, Fond du Lac, WI 54935
Existing office layout with dedicated parking, a covered drive-through, and C-2 zoning.
Property Size4,941 SF
Price / SF$197.33
Days on Market277
Property Features for 245 N Peters Ave
General Information
Standard status
Active
Size
4,941 SF
Property subtype
Commercial
Building Details
Year Built
1999
Listing Agency:
Adashun Jones Real Estate
(920) 251-6748
Listed By:
Kevin Jones · License #5554090
Source:
Viewhomesinwisconsin
Added: Nov 26, 2025
Changed: Aug 29
Last Checked: Aug 25 at 8:05AM
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 Adashun Jones Real Estate
Investment Insights
Based on property information with market context.
Located at 245 N Peters Ave in Fond du Lac, this 4,914-square-foot office building was constructed in 1999 and is currently configured for office use. The property includes finished interior space, a covered drive-through, and parking for more than 50 vehicles.
The site is positioned along the HWY 23 and Johnson St traffic corridor, with visibility from east- and westbound traffic. C-2 zoning supports the property’s current commercial setting, which is surrounded by medical, retail, and restaurant uses. The building and site provide an established commercial layout for an office user seeking a freestanding property with on-site parking and drive-through infrastructure.
The site is positioned along the HWY 23 and Johnson St traffic corridor, with visibility from east- and westbound traffic. C-2 zoning supports the property’s current commercial setting, which is surrounded by medical, retail, and restaurant uses. The building and site provide an established commercial layout for an office user seeking a freestanding property with on-site parking and drive-through infrastructure.
Key Highlights
- 4,914 SF of finished floor space configured for office use
- More than 50 parking stalls
- Covered drive‑through
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
$50,901
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
5.22%
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%
$1,018,020
$1.0M
Cap Rate 7%
$727,157
$727.2K
Cap Rate 9%
$565,567
$565.6K
Market Conditions
NOI Build-Up for 4,941 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
$86.6K $17.52/SF
− Vacancy
−$18.7K −$3.78/SF
EGI
$67.9K $13.74/SF
− OpEx
−$17.0K −$3.43/SF
NOI
$50.9K $10.30/SF
Area
Fond du Lac County, WI
Vacancy
21.60%
Lease Rate
$17.52 /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%
$1,018,020
Cap Rate 7%
$727,157
Cap Rate 9%
$565,567
Alternative Uses
Best Use
Office B
$727.2K
$636.3K – $848.4K
NOI $50,901 @ 7.0% cap · market cap 5.22%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$4.76M
$4.17M – $5.55M
NOI $333,280 @ 7.0% cap · market cap 34.18%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
246
Businesses Nearby
Explore this area
Business Placement
Demographics for 54935, WI
42,513
Population
19,115
Households
2.2
Avg Household Size
39
Median Age
23%
College-Educated
91%
High-School Grad
15.6 sq mi
ZIP Area
2,725
Density / Sq Mi
$63,060
Median Household Income
$41,338
Median Earnings
$880
Median Rent
$166,400
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 - Existing office layout with dedicated parking, a covered drive-through, and C-2 zoning.
Where is this office building located?
The property is located at 245 N Peters Ave Fond du Lac, WI.
What is the asking price?
The asking price for this property is $975,000.
What are key features of this property?
This property features: 4,914 SF of finished floor space configured for office use; More than 50 parking stalls; Covered drive‑through
