Corner Office Building with
For Sale
$1,200,000
2521 Steffens Ct, Green Bay, WI 54311
Former credit union facility with offices, lobby, vault, basement storage, and drive-through service.
Property Size3,135 SF
Lot Size2.55 Acres
Price / SF$382.78
Days on Market23
Property Features for 2521 Steffens Ct
General Information
Standard status
Active
Size
3,135 SF
Total Parking Spaces
20
Lot size
2.55 Acres
Amenities
multiple offices
lobby with 2-story ceiling
half-bathrooms
kitchenette
vault
basement storage
drive-through lanes
canopy
Building Details
Year Built
2006
Buildings
1
Building Size
3,135 SF
Listing Agency:
Dallaire Realty
(920) 680-4493
Listed By:
Judd J. Gehl · License #91936940
Source:
Lisakawula
Added: Aug 10
Changed: Aug 30
Last Checked: Aug 31 at 7:32PM
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 Dallaire Realty
Investment Insights
Based on property information with market context.
Built in 2006, this former credit union offers 3,135 square feet on a 2.55-acre corner lot at 2521 Steffens Ct in Green Bay. The interior includes multiple offices, a lobby with a 2-story ceiling, 2 half-bathrooms, a kitchenette, a vault, and basement storage.
Exterior improvements include 3 drive-through lanes beneath a 30'x36' canopy, an asphalt parking lot with approximately 20 parking spaces, and 2 aprons. The property is positioned across from stores and shopping, with additional land extending along the west end of the parcel.
Exterior improvements include 3 drive-through lanes beneath a 30'x36' canopy, an asphalt parking lot with approximately 20 parking spaces, and 2 aprons. The property is positioned across from stores and shopping, with additional land extending along the west end of the parcel.
Key Highlights
- 3,135‑square‑foot office building constructed in 2006
- Situated on a 2.55‑acre corner lot
- 3 drive‑through lanes beneath a 30'x36' canopy
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
$42,887
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
3.57%
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%
$857,740
$857.7K
Cap Rate 7%
$612,671
$612.7K
Cap Rate 9%
$476,522
$476.5K
Market Conditions
NOI Build-Up for 3,135 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
$60.2K $19.20/SF
− Vacancy
−$3.0K −$0.96/SF
EGI
$57.2K $18.24/SF
− OpEx
−$14.3K −$4.56/SF
NOI
$42.9K $13.68/SF
Area
Green Bay, WI
Vacancy
5.00%
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%
$857,740
Cap Rate 7%
$612,671
Cap Rate 9%
$476,522
Alternative Uses
Best Use
Specialty Retail
$612.7K
$536.1K – $714.8K
NOI $42,887 @ 7.0% cap · market cap 3.57%
Second Best
Office B
$528.8K
$462.7K – $617.0K
NOI $37,018 @ 7.0% cap · market cap 3.08%
Theoretical Best
Office A
$730.9K
$639.5K – $852.7K
NOI $51,163 @ 7.0% cap · market cap 4.26%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
194
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 - Former credit union facility with offices, lobby, vault, basement storage, and drive-through service.
Where is this office building located?
The property is located at 2521 Steffens Ct Green Bay, WI.
What is the asking price?
The asking price for this property is $1,200,000.
What are key features of this property?
This property features: 3,135‑square‑foot office building constructed in 2006; Situated on a 2.55‑acre corner lot; 3 drive‑through lanes beneath a 30'x36' canopy
