Two-Story Brick Office
For Sale
$670,000
3205 TERRACE COURT, Wausau, WI 54401
Commercial/Industrial, Wausau, WI
Property Size6,180 SF
Lot Size0.52 Acres
Price / SF$108.41
Days on Market112
Property Features for 3205 TERRACE COURT
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
Commercial
Lot features
Corner, Near Major Highway, Residential Area
Subdivision
Wausau
Standard status
Active
Size
6,180 SF
Lot size
0.52 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
7577
Utilities
Heating system
Forced Air, Baseboard
Cooling system
Central Air
Building Details
Year built
1980
Number of units
8
Building materials
Brick, Wood
Roof type
Shingle
Listing Agency:
REMAX EXCEL · RE/MAX International
(715) 849-5544
Listed By:
LISA BERGMANN · License #66538
(715) 218-0692
Added: Jun 1
Changed: Sep 14
Last Checked: Sep 20 at 8:06AM
MLS# 22602426
Copyright © 2026 Central Wisconsin MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
Built in 1980, this 6,180-square-foot office property is a two-story brick building with a multi-tenant configuration that can also accommodate a single occupant. The building includes baseboard and forced-air heating, central air conditioning, a shingle roof, and a newly paved, well-lighted parking lot. South-facing windows provide views toward Rib Mountain ski area, while the exterior sign offers a substantial identification opportunity.
The property is positioned on Terrace Court with visibility and access from Stewart Ave and Hwy 29. More than 20,000 cars view the building and its exterior business sign per day. The second floor is separately metered for gas, electric, sewer, and water. The current upper-floor tenant is expected to vacate in early Fall 2026, and the sellers can deliver the property with that space occupied or vacant, subject to the agreed arrangement.
The property is positioned on Terrace Court with visibility and access from Stewart Ave and Hwy 29. More than 20,000 cars view the building and its exterior business sign per day. The second floor is separately metered for gas, electric, sewer, and water. The current upper-floor tenant is expected to vacate in early Fall 2026, and the sellers can deliver the property with that space occupied or vacant, subject to the agreed arrangement.
Key Highlights
- 6,180‑square‑foot office building on a 0.52‑acre site
- Two‑story brick construction completed in 1980
- Multi‑tenant layout that can be used by a single occupant
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
$61,605
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
9.19%
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%
$1,232,100
$1.2M
Cap Rate 7%
$880,071
$880.1K
Cap Rate 9%
$684,500
$684.5K
Market Conditions
NOI Build-Up for 6,180 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
$105.3K $17.04/SF
− Vacancy
−$23.2K −$3.75/SF
EGI
$82.1K $13.29/SF
− OpEx
−$20.5K −$3.32/SF
NOI
$61.6K $9.97/SF
Area
Marathon County, WI
Vacancy
22.00%
Lease Rate
$17.04 /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%
$1,232,100
Cap Rate 7%
$880,071
Cap Rate 9%
$684,500
Alternative Uses
Best Use
Office B
$880.1K
$770.1K – $1.03M
NOI $61,605 @ 7.0% cap · market cap 9.19%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$1.14M
$999.1K – $1.33M
NOI $79,926 @ 7.0% cap · market cap 11.93%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
Multi-tenant
Tenancy
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
741
Businesses Nearby
Explore this area
Business Placement
Demographics for 54401, WI
31,727
Population
14,230
Households
2.2
Avg Household Size
40
Median Age
31%
College-Educated
91%
High-School Grad
84.2 sq mi
ZIP Area
377
Density / Sq Mi
$69,542
Median Household Income
$40,796
Median Earnings
$969
Median Rent
$186,100
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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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 - Multi-tenant office configuration with adaptable occupancy, dedicated parking, and prominent exposure near Stewart Ave and Hwy 29.
Where is this office building located?
The property is located at 3205 TERRACE COURT Wausau, WI.
What is the asking price?
The asking price for this property is $670,000.
What are key features of this property?
This property features: 6,180‑square‑foot office building on a 0.52‑acre site; Two‑story brick construction completed in 1980; Multi‑tenant layout that can be used by a single occupant
