Flex Building with Large
For Sale
$400,000
2509 Kirk Street, Eau Claire, WI 54701
CommercialSale, Eau Claire, WI
Property Size1,962 SF
Price / SF$203.87
Days on Market1413
Property Features for 2509 Kirk Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
Commercial
Elementary school district
Eau Claire Area
Middle school district
Eau Claire Area
High school district
Eau Claire Area
Directions
Hastings Way to west on Kirk St. Next to Starbucks.
Subdivision
02 - Ec Schl/Southside
Standard status
Active
APN
15-1764
Size
1,962 SF
Taxes and HOA fees
Tax Year
2021
Tax Description
Lots 8 & 9 Ness Addition except the NE 32 feet.
Tax Annual Amount
6138
Legal Description
Lots 8 & 9 Ness Addition except the NE 32 feet.
Utilities
Sewer type
Public Sewer
Heating system
Forced Air
Cooling system
Wall Unit(s)
Water source
Public
Building Details
Year built
1972
Building materials
AluminumSiding
Listing Agency:
Donnellan Real Estate
(715) 836-8080
Listed By:
David Donnellan · License #79500-94
(715) 577-9027
Added: Nov 2, 2022
Changed: Aug 19
Last Checked: Sep 14 at 3:06AM
MLS# 1569849
Copyright © 2026 REALTORS® Association of Northwestern Wisconsin. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 1,962-square-foot flex property was built in 1972 and is currently occupied by the owner for a lawn care and snow removal business. The building includes office space, a bathroom, and a substantial shop area with overhead doors, supported by a large parking lot. Aluminum siding, forced-air heating, wall-unit cooling, public water, and public sewer are in place.
Located at 2509 Kirk Street in Eau Claire, the property sits next to Starbucks Coffee. Its combination of office and shop areas provides a practical layout for the existing business or another operation requiring both workspace and storage-oriented functionality.
Located at 2509 Kirk Street in Eau Claire, the property sits next to Starbucks Coffee. Its combination of office and shop areas provides a practical layout for the existing business or another operation requiring both workspace and storage-oriented functionality.
Key Highlights
- 1,962‑square‑foot flex property built in 1972
- Office area, bathroom, and large shop area with overhead doors
- Large parking lot supports the existing lawn care and snow removal operation
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
$15,652
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
3.91%
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%
$313,040
$313.0K
Cap Rate 7%
$223,600
$223.6K
Cap Rate 9%
$173,911
$173.9K
Market Conditions
NOI Build-Up for 1,962 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
$18.6K $9.48/SF
− Vacancy
−$186 −$0.09/SF
EGI
$18.4K $9.39/SF
− OpEx
−$2.8K −$1.41/SF
NOI
$15.7K $7.98/SF
Area
Eau Claire County, WI
Vacancy
1.00%
Lease Rate
$9.48 /SF/Yr
Expense Ratio
15.00%
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%
$313,040
Cap Rate 7%
$223,600
Cap Rate 9%
$173,911
Alternative Uses
Best Use
Industrial
$2.21M
$1.94M – $2.58M
NOI $155,002 @ 7.0% cap · market cap 38.75%
Second Best
Warehouse
$223.6K
$195.7K – $260.9K
NOI $15,652 @ 7.0% cap · market cap 3.91%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
1,035
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 54701, WI
41,346
Population
17,932
Households
2.3
Avg Household Size
35
Median Age
42%
College-Educated
98%
High-School Grad
86.0 sq mi
ZIP Area
481
Density / Sq Mi
$71,406
Median Household Income
$37,658
Median Earnings
$963
Median Rent
$265,000
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Industrial in Midwest region
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Frequently Asked Questions
What type of property is this?
Flex space - Owner-occupied facility combines office space, a bathroom, overhead-door shop area, and a large parking lot.
Where is this flex space located?
The property is located at 2509 Kirk Street Eau Claire, WI.
What is the asking price?
The asking price for this property is $400,000.
What are key features of this property?
This property features: 1,962‑square‑foot flex property built in 1972; Office area, bathroom, and large shop area with overhead doors; Large parking lot supports the existing lawn care and snow removal operation
