Office Building with
For Sale
$1,900,000
3101 Hoover Road, Stevens Point, WI 54481
Flexible layout includes a large lobby, multiple offices, conference room, and break room.
Property Size6,824 SF
Price / SF$279.41
Days on Market413
Property Features for 3101 Hoover Road
General Information
Standard status
Active
Size
6,824 SF
Property subtype
Commercial
Additional Details
Furnished
Yes
Amenities
lobby
conference room
break room
Building Details
Building Size
6,824 SF
Year Built
1996
Buildings
1
Listing Agency:
Kpr Brokers, LLC
(262) 321-9909
Listed By:
Cole Passehl
(262) 321-9909
Source:
Northwoodswi
Added: Jul 14, 2025
Changed: Aug 29
Last Checked: Aug 22 at 7:04AM
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 Kpr Brokers, LLC
Investment Insights
Based on property information with market context.
Located at 3101 Hoover Road in Stevens Point, this office building provides 6800+ square feet of functional business space. The interior includes an expansive lobby, a dozen offices, a large conference room, and a break room with partition walls that allow the two larger areas to be combined. Built in 1996 and expanded in 2016, the property also includes a drive-through service area and a security system.
The site is positioned within a business park with reported traffic of 10,800 AADT, according to WisDOT Traffic Counts. Exterior features include a large parking lot, landscaped grounds, and lawn sprinkler systems. The sale includes most of the furniture and equipment, providing an existing setup for an office user.
The site is positioned within a business park with reported traffic of 10,800 AADT, according to WisDOT Traffic Counts. Exterior features include a large parking lot, landscaped grounds, and lawn sprinkler systems. The sale includes most of the furniture and equipment, providing an existing setup for an office user.
Key Highlights
- 6800+ square feet with an expansive lobby and a dozen offices
- Built in 1996 with an addition completed in 2016
- Large conference room and break room with partition walls
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
$63,489
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
3.34%
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%
$1,269,780
$1.3M
Cap Rate 7%
$906,986
$907.0K
Cap Rate 9%
$705,433
$705.4K
Market Conditions
NOI Build-Up for 6,800 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
$108.5K $15.96/SF
− Vacancy
−$23.9K −$3.51/SF
EGI
$84.7K $12.45/SF
− OpEx
−$21.2K −$3.11/SF
NOI
$63.5K $9.34/SF
Area
Portage County, WI
Vacancy
22.00%
Lease Rate
$15.96 /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%
$1,269,780
Cap Rate 7%
$906,986
Cap Rate 9%
$705,433
Alternative Uses
Best Use
Office B
$907.0K
$793.6K – $1.06M
NOI $63,489 @ 7.0% cap · market cap 3.34%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$1.32M
$1.16M – $1.54M
NOI $92,635 @ 7.0% cap · market cap 4.88%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
287
Businesses Nearby
Explore this area
Business Placement
Demographics for 54481, WI
28,100
Population
12,697
Households
2.2
Avg Household Size
32
Median Age
38%
College-Educated
96%
High-School Grad
65.6 sq mi
ZIP Area
428
Density / Sq Mi
$57,234
Median Household Income
$29,506
Median Earnings
$853
Median Rent
$191,700
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 - Flexible layout includes a large lobby, multiple offices, conference room, and break room.
Where is this office building located?
The property is located at 3101 Hoover Road Stevens Point, WI.
What is the asking price?
The asking price for this property is $1,900,000.
What are key features of this property?
This property features: 6800+ square feet with an expansive lobby and a dozen offices; Built in 1996 with an addition completed in 2016; Large conference room and break room with partition walls
