Building Details

Year Built 1900

Buildings 1

Stories 2

Units 2

Listing Agency: KPR Brokers LLC m***@kprbrokers.com Show Phone

Listed By: Mark Kitowski · License #59637-94

Source: Crexi

Added: Sep 9, 2025 Changed: Aug 8 Last Checked: Aug 11 at 5:27AM

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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 KPR Brokers LLC

Investment Insights

Based on property information with market context.

This commercial building in the Village of Scandinavia offers a commercial investment opportunity. The turnkey building features over 2,000 sqft of finished space and a cash flow history. The lower level unit is occupied by a long-term commercial tenant, with a monthly rent of $600. The upstairs unit operates as an Airbnb. The upstairs unit has brought in $12,000 in gross rent in 2024 (per seller). The owner covers building sewer and all utilities for the upstairs unit.

Key Highlights

• Turnkey commercial building with established cash flow.
• Lower level unit occupied by a long‑term commercial tenant paying $600/month.
• Upstairs unit operating as a successful Airbnb.

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

$13,581

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

7.99%

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%

$271,620 $271.6K

Cap Rate 7%

$194,014 $194.0K

Cap Rate 9%

$150,900 $150.9K

Market Conditions

NOI Build-Up for 2,000 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

$19.9K $9.96/SF

− Vacancy

−$518 −$0.26/SF

EGI

$19.4K $9.70/SF

− OpEx

−$5.8K −$2.91/SF

NOI

$13.6K $6.79/SF

Area

Waupaca County, WI

Vacancy

2.60%

Lease Rate

$9.96 /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%

$271,620

Cap Rate 7%

$194,014

Cap Rate 9%

$150,900

Alternative Uses

Best Use

Retail

$194.0K

$169.8K – $226.4K (±1% cap)

NOI $13,581 @ 7.0% cap · market cap 7.99%

Second Best

Apartment 5plus

$178.2K

$155.9K – $207.9K (±1% cap)

NOI $12,474 @ 7.0% cap · market cap 7.34%

Theoretical Best

Office A

$374.6K

$327.8K – $437.1K (±1% cap)

NOI $26,224 @ 7.0% cap · market cap 15.43%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Property Profile

Current Use

Country Chic Boutique (Bike/Boat/Book/etc) Store

Suggested Use

Top Pick HVAC Service Garden Center (Bike/Boat/Book/etc) Store Bakery Hair Salon Nail Salon

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

53

Businesses Nearby

Explore this area Business Placement

Demographics for 54977, WI

1,360

Population

758

Households

1.8

Avg Household Size

50

Median Age

15%

College-Educated

96%

High-School Grad

38.2 sq mi

ZIP Area

36

Density / Sq Mi

$75,625

Median Household Income

$37,857

Median Earnings

$967

Median Rent

$242,900

Median Home Value

Market

Vacancy Rate% for Multifamily in Midwest region

6.5% 2022

7.5% 2023

7.8% 2024

8% 2025

Questions? Ask Rey

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What type of property is this? Where is this retail space located? What is the asking price? Find similar properties ... What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Retail space - Commercial building with long-term tenant and successful Airbnb.

Where is this retail space located?

The property is located at 320 N Main Street Scandinavia, WI.

What is the asking price?

The asking price for this property is $169,900.

What are key features of this property?

This property features: Turnkey commercial building with established cash flow.; Lower level unit occupied by a long‑term commercial tenant paying $600/month.; Upstairs unit operating as a successful Airbnb.