Freestanding Office Building with
For Sale
$698,000
2636 US Hwy 51, Janesville, WI 53546
2,606 SF office building with drive-thru on one acre.
Property Size2,606 SF
Lot Size1.00 Acre
Price / SF$267.84
Days on Market146
Property Features for 2636 US Hwy 51
General Information
Standard status
Active
Size
2,606 SF
Lot size
1.00 Acre
Property subtype
Office
Building Details
Year Built
1990
Listing Agency:
Coldwell Banker Commercial McGuire Mears & Associates
(608) 314-8257
Listed By:
Adam Shultz · License #5938590
(608) 314-8257
Source:
Cbcworldwide
Added: Apr 7
Changed: Jul 10
Last Checked: Jul 13 at 2:09AM
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 Coldwell Banker Commercial McGuire Mears & Associates
Investment Insights
Based on property information with market context.
This is a professional freestanding office building for sale in Janesville, WI. The 2,606 SF building features existing multi-lane drive-thru infrastructure. Formerly a bank branch, it is a plug-and-play option for office users, fast-casual dining, or service-based retail. Situated on a full acre, the property boasts an expansive parking-to-building ratio, ensuring ease of access for both staff and visitors. The property benefits from existing highway access and a location in one of Janesville’s steady growth paths.
Key Highlights
- Freestanding 2,606 SF office building suitable for office, fast‑casual dining, or retail.
- Benefits from existing multi‑lane drive‑thru infrastructure.
- Located on a full acre with expansive parking.
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
$34,278
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
4.91%
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%
$685,560
$685.6K
Cap Rate 7%
$489,686
$489.7K
Cap Rate 9%
$380,867
$380.9K
Market Conditions
NOI Build-Up for 2,606 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
$57.9K $22.20/SF
− Vacancy
−$12.1K −$4.66/SF
EGI
$45.7K $17.54/SF
− OpEx
−$11.4K −$4.38/SF
NOI
$34.3K $13.15/SF
Area
Rock County, WI
Vacancy
21.00%
Lease Rate
$22.20 /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%
$685,560
Cap Rate 7%
$489,686
Cap Rate 9%
$380,867
Alternative Uses
Best Use
Office B
$489.7K
$428.5K – $571.3K
NOI $34,278 @ 7.0% cap · market cap 4.91%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$626.2K
$548.0K – $730.6K
NOI $43,837 @ 7.0% cap · market cap 6.28%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
234
Businesses Nearby
Explore this area
Business Placement
Demographics for 53546, WI
31,190
Population
12,816
Households
2.4
Avg Household Size
41
Median Age
26%
College-Educated
95%
High-School Grad
81.1 sq mi
ZIP Area
385
Density / Sq Mi
$73,430
Median Household Income
$45,481
Median Earnings
$1,076
Median Rent
$220,100
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 - 2,606 SF office building with drive-thru on one acre.
Where is this office building located?
The property is located at 2636 US Hwy 51 Janesville, WI.
What is the asking price?
The asking price for this property is $698,000.
What are key features of this property?
This property features: Freestanding 2,606 SF office building suitable for office, fast‑casual dining, or retail.; Benefits from existing multi‑lane drive‑thru infrastructure.; Located on a full acre with expansive parking.
