Building Details

Building Size 4,260 SF

Year Built 2019

Listing Agency: Weichert, Realtors CornerStone c***@weichert.com Show Phone

Listed By: Mark Gordon · License #8660494 Show Phone

Source: Defererealestate

Added: Sep 3 Changed: Oct 26 Last Checked: Oct 26 at 3:50AM

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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 Weichert, Realtors CornerStone

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Investment Insights

Based on property information with market context.

At 3198 County Highway V in Mishicot, this 2019 flex-space property includes an approximately 4,260-square-foot workshop on an estimated 10-acre parcel. The building measures 71 by 60 feet and has an estimated 26-foot center ceiling, two 16-foot overhead doors, and one 14-foot overhead door. An overhang adds covered storage, while designated office and storage areas support varied work activities. The shop also has in-floor heat and plumbing provisions for compressed air, a bathroom, and water.

A pond is part of the property, and the site has substantial parking area. GA zoning and room to build a home are also noted for the parcel.

Key Highlights

• Estimated 10‑acre parcel with a pond
• 71‑by‑60‑foot workshop totaling approximately 4,260 sq ft
• Estimated 26‑ft center ceiling height

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$38,752

Cap Rate

8.43%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$775,040 $775.0K

Cap Rate 7%

$553,600 $553.6K

Cap Rate 9%

$430,578 $430.6K

Is this asking price fair?

Market Conditions

NOI Build-Up for 4,260 SF

Gross rent

$63.9K $15.00/SF

− Vacancy

−$4.3K −$1.01/SF

EGI

$59.6K $14.00/SF

− OpEx

−$20.9K −$4.90/SF

NOI

$38.8K $9.10/SF

Area

Manitowoc County, WI

Vacancy

6.70%

Lease Rate

$15.00 /SF/Yr

Expense Ratio

35.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$775,040

Cap Rate 7%

$553,600

Cap Rate 9%

$430,578

Alternative Uses

Best Use

Flex RnD

$553.6K

$484.4K – $645.9K (±1% cap)

NOI $38,752 @ 7.0% cap · market cap 8.43%

Second Best

Warehouse

$274.3K

$240.0K – $320.0K (±1% cap)

NOI $19,201 @ 7.0% cap · market cap 4.18%

Theoretical Best

Specialty Retail

$933.6K

$816.9K – $1.09M (±1% cap)

NOI $65,351 @ 7.0% cap · market cap 14.21%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Current Use

Flex space

Suggested Use

Top Pick Veterinary Clinic (Bike/Boat/Book/etc) Store

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

4

Businesses Nearby

Well-served

Demand for This Use

Explore this area Business Placement

Demographics for 54228, WI

2,739

Population

1,284

Households

2.1

Avg Household Size

46

Median Age

20%

College-Educated

90%

High-School Grad

40.2 sq mi

ZIP Area

68

Density / Sq Mi

$72,284

Median Household Income

$41,788

Median Earnings

$765

Median Rent

$181,600

Median Home Value

Market

Vacancy Rate% for Industrial in Midwest region

4.4% 2019

4.9% 2020

3.6% 2021

3.1% 2022

4.6% 2023

5% 2024

4.9% 2025

Frequently Asked Questions

What type of property is this?

Flex space - A heated workshop with office and storage areas occupies acreage zoned GA.

Where is this flex space located?

The property is located at 3198 County Highway V Mishicot, WI.

What is the asking price?

The asking price for this property is $459,900.

What are key features of this property?

This property features: Estimated 10‑acre parcel with a pond; 71‑by‑60‑foot workshop totaling approximately 4,260 sq ft; Estimated 26‑ft center ceiling height