Flex Office and Industrial
For Sale
$3,000,000
3114 Medalist Drive, Oshkosh, WI 54902
Versatile building with reception, multiple office configurations, work/lab areas, and a dedicated shipping and receiving area.
Property Size20,000 SF
Price / SF$150
Days on Market69
Property Features for 3114 Medalist Drive
General Information
Standard status
Active
Size
20,000 SF
Additional Details
Highway Access
Yes
Office Units
20
Taxes and HOA fees
Annual Taxes
$27,018
Amenities
reception area
conference room
break room
shower room
cubicle workspace
work/lab area
shipping and receiving
Listing Agency:
Keller Williams Fox Cities
(920) 903-9031
Listed By:
Chris Schultz · License #94-42129
(920) 379-1104
Source:
Exprealty
Added: Jun 29
Changed: Aug 21
Last Checked: Sep 5 at 10:28AM
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 Fox Cities
Investment Insights
Based on property information with market context.
This commercial building offers a flexible layout designed for office or industrial use, with more than 20,000 square feet divided into six functional sections. Entry opens to a reception area that connects to office space and cubicle work areas. The left side includes an executive-style arrangement with four large offices, a break room, a separate shower room, and men’s and women’s bathrooms. The right side features 16 office spaces, two large conference rooms that can be combined with a removable wall, men’s and women’s bathrooms, a large break room, a cubicle workspace, four large work/lab areas, and a dedicated shipping and receiving area.
Located near the airport, highway access, and other industrial businesses, the property provides an on-site option for both administrative and operational space.
With its combination of private offices, conference space, work/lab areas, and shipping functions, the building supports a mixed office/industrial configuration within a single facility.
Located near the airport, highway access, and other industrial businesses, the property provides an on-site option for both administrative and operational space.
With its combination of private offices, conference space, work/lab areas, and shipping functions, the building supports a mixed office/industrial configuration within a single facility.
Key Highlights
- Commercial building with over 20,000 SF divided into 6 functional sections
- Reception area leading to office space and cubicle area
- Executive‑style left‑side layout with 4 large offices, break room, separate shower room, and men’s/women’s bathrooms
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
$226,800
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
7.56%
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%
$4,536,000
$4.5M
Cap Rate 7%
$3,240,000
$3.2M
Cap Rate 9%
$2,520,000
$2.5M
Market Conditions
NOI Build-Up for 20,000 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
$360.0K $18.00/SF
− Vacancy
−$57.6K −$2.88/SF
EGI
$302.4K $15.12/SF
− OpEx
−$75.6K −$3.78/SF
NOI
$226.8K $11.34/SF
Area
Winnebago County, WI
Vacancy
16.00%
Lease Rate
$18.00 /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%
$4,536,000
Cap Rate 7%
$3,240,000
Cap Rate 9%
$2,520,000
Alternative Uses
Best Use
Office B
$3.24M
$2.84M – $3.78M
NOI $226,800 @ 7.0% cap · market cap 7.56%
Second Best
Flex RnD
$2.53M
$2.21M – $2.95M
NOI $176,807 @ 7.0% cap · market cap 5.89%
Theoretical Best
Office A
$4.32M
$3.78M – $5.04M
NOI $302,170 @ 7.0% cap · market cap 10.07%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
20
Office units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
87
Businesses Nearby
Explore this area
Business Placement
Demographics for 54902, WI
22,309
Population
10,800
Households
2.1
Avg Household Size
40
Median Age
27%
College-Educated
94%
High-School Grad
35.0 sq mi
ZIP Area
637
Density / Sq Mi
$64,548
Median Household Income
$41,592
Median Earnings
$859
Median Rent
$163,900
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 - Versatile building with reception, multiple office configurations, work/lab areas, and a dedicated shipping and receiving area.
Where is this office building located?
The property is located at 3114 Medalist Drive Oshkosh, WI.
What is the asking price?
The asking price for this property is $3,000,000.
What are key features of this property?
This property features: Commercial building with over 20,000 SF divided into 6 functional sections; Reception area leading to office space and cubicle area; Executive‑style left‑side layout with 4 large offices, break room, separate shower room, and men’s/women’s bathrooms
