Corner-Lot Flex
For Sale
$199,900
2961 8th St S, Wisconsin Rapids, WI 54494
Two-building commercial setup with office, service areas, and overhead garage doors.
Property Size1,973 SF
Price / SF$101.32
Days on Market36
Property Features for 2961 8th St S
General Information
Standard status
Active
Size
1,973 SF
Additional Details
Road Access
Yes
Office Build-Out
1,344 SF
Taxes and HOA fees
Annual Taxes
$3,756
Building Details
Buildings
2
Listing Agency:
EQUITY WISCONSIN REAL ESTATE
(715) 323-3876
Listed By:
MELISSA PRUSAK
(715) 323-3876
Source:
Exprealty
Added: Jul 8
Changed: Aug 12
Last Checked: Aug 12 at 3:25AM
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 EQUITY WISCONSIN REAL ESTATE
Investment Insights
Based on property information with market context.
This flex property at 2961 8th St S comprises two separate buildings totaling 1,973 square feet. The front building contains 1,344 square feet configured for office and service use, while the rear building provides an additional 629 square feet. Each structure includes a large overhead garage door, supporting a combination of workspace and vehicle-access functions.
The property occupies a corner lot along a busy road in a business district, with frontage that places the buildings directly within the surrounding commercial setting. Its two-building layout offers distinct areas for office, service, storage, or related operations, subject to applicable requirements.
The property occupies a corner lot along a busy road in a business district, with frontage that places the buildings directly within the surrounding commercial setting. Its two-building layout offers distinct areas for office, service, storage, or related operations, subject to applicable requirements.
Key Highlights
- Two‑building flex property totaling 1,973 square feet
- Front building includes 1,344 square feet of office and service space
- Rear building provides an additional 629 square feet
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
$17,535
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
8.77%
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%
$350,700
$350.7K
Cap Rate 7%
$250,500
$250.5K
Cap Rate 9%
$194,833
$194.8K
Market Conditions
NOI Build-Up for 1,973 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
$29.6K $15.00/SF
− Vacancy
−$6.2K −$3.15/SF
EGI
$23.4K $11.85/SF
− OpEx
−$5.8K −$2.96/SF
NOI
$17.5K $8.89/SF
Area
Wood County, WI
Vacancy
21.00%
Lease Rate
$15.00 /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%
$350,700
Cap Rate 7%
$250,500
Cap Rate 9%
$194,833
Alternative Uses
Best Use
Office B
$250.5K
$219.2K – $292.3K
NOI $17,535 @ 7.0% cap · market cap 8.77%
Second Best
Flex RnD
$240.0K
$210.0K – $280.0K
NOI $16,799 @ 7.0% cap · market cap 8.40%
Theoretical Best
Specialty Retail
$382.8K
$334.9K – $446.6K
NOI $26,794 @ 7.0% cap · market cap 13.40%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
648
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 54494, WI
27,420
Population
13,110
Households
2.1
Avg Household Size
47
Median Age
23%
College-Educated
95%
High-School Grad
125.3 sq mi
ZIP Area
219
Density / Sq Mi
$71,087
Median Household Income
$43,800
Median Earnings
$954
Median Rent
$170,800
Median Home Value
Market
Vacancy Rate% for Office in Midwest region
Questions? Ask Rey
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Similar Off Market Nearby
- Purple Basil Food Truck & Catering — 1191 Huntington Ave, Wisconsin Rapids, WI 54494
Frequently Asked Questions
What type of property is this?
Flex space - Two-building commercial setup with office, service areas, and overhead garage doors.
Where is this flex space located?
The property is located at 2961 8th St S Wisconsin Rapids, WI.
What is the asking price?
The asking price for this property is $199,900.
What are key features of this property?
This property features: Two‑building flex property totaling 1,973 square feet; Front building includes 1,344 square feet of office and service space; Rear building provides an additional 629 square feet
