Storefront Property with Living
New
For Sale
$379,900
2654 Continental Dr, Green Bay, WI 54311
Open commercial layout with an attached garage, upper-level living quarters, signage, and basement space.
Property Size2,848 SF
Price / SF$133.39
Days on Market7
Property Features for 2654 Continental Dr
General Information
Standard status
Active
Size
2,848 SF
Amenities
outdoor signage
full height basement
Building Details
Year Built
1951
Buildings
1
Listing Agency:
Keller Williams Green Bay
(920) 632-7702
Listed By:
Edward T. Rudd
Source:
Smartteamhomes
Added: Aug 24
Changed: Aug 29
Last Checked: Aug 29 at 9:10AM
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 Keller Williams Green Bay
Investment Insights
Based on property information with market context.
This 2,848-square-foot commercial building in Green Bay combines an operating retail storefront with an attached garage and upper-level living quarters. The interior includes wide-open space suited to the current retail configuration, while approximately half of the building extends into a full-height basement. Outdoor signage is already in place.
Constructed in 1951, the property received new windows in 2018. Its configuration brings together customer-facing commercial space, storage or support areas, garage access, and residential-style quarters within one building. The property is currently home to Josephine's Gifts and decor and is being offered following the owner's retirement.
Constructed in 1951, the property received new windows in 2018. Its configuration brings together customer-facing commercial space, storage or support areas, garage access, and residential-style quarters within one building. The property is currently home to Josephine's Gifts and decor and is being offered following the owner's retirement.
Key Highlights
- 2,848 SF commercial building at 2654 Continental Dr, Green Bay, WI 54311
- Attached garage and upper‑level living quarters
- Approximately half the building has a full‑height basement
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
$31,483
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
8.29%
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%
$629,660
$629.7K
Cap Rate 7%
$449,757
$449.8K
Cap Rate 9%
$349,811
$349.8K
Market Conditions
NOI Build-Up for 2,848 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
$47.8K $16.80/SF
− Vacancy
−$2.9K −$1.01/SF
EGI
$45.0K $15.79/SF
− OpEx
−$13.5K −$4.74/SF
NOI
$31.5K $11.05/SF
Area
Green Bay, WI
Vacancy
6.00%
Lease Rate
$16.80 /SF/Yr
Expense Ratio
30.00%
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%
$629,660
Cap Rate 7%
$449,757
Cap Rate 9%
$349,811
Alternative Uses
Best Use
Retail
$449.8K
$393.5K – $524.7K
NOI $31,483 @ 7.0% cap · market cap 8.29%
Second Best
Mixed Use
$421.1K
$368.5K – $491.3K
NOI $29,477 @ 7.0% cap · market cap 7.76%
Theoretical Best
Office A
$664.0K
$581.0K – $774.7K
NOI $46,479 @ 7.0% cap · market cap 12.23%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
209
Businesses Nearby
172k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Home Improvements & Furnishings 50%
Groceries 28%
Shops & Services 16%
Dining 4%
Menards
Home Improvements & Furnishings
53,264 visits/mo
0.4 miles
Skogen's Festival Foods
Groceries
48,960 visits/mo
0.5 miles
The Home Depot
Home Improvements & Furnishings
28,310 visits/mo
0.1 miles
BP
Shops & Services
20,003 visits/mo
0.3 miles
Dorsch Ford Lincoln KIA
Shops & Services
6,766 visits/mo
0.3 miles
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 Retail in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Storefront property - Open commercial layout with an attached garage, upper-level living quarters, signage, and basement space.
Where is this storefront property located?
The property is located at 2654 Continental Dr Green Bay, WI.
What is the asking price?
The asking price for this property is $379,900.
What are key features of this property?
This property features: 2,848 SF commercial building at 2654 Continental Dr, Green Bay, WI 54311; Attached garage and upper‑level living quarters; Approximately half the building has a full‑height basement
