Visible Multi-Tenant Office
For Sale
$765,000
3205 Terrace Ct, Wausau, WI 54401
South and east visibility supports strong storefront-style signage for an owner-operator or multi-tenant office use.
Property Size6,180 SF
Price / SF$123.79
Days on Market86
Property Features for 3205 Terrace Ct
General Information
Standard status
Active
Size
6,180 SF
Taxes and HOA fees
Annual Taxes
$7,577
Building Details
Stories
2
Tenancy
Multi
Listing Agency:
REMAX EXCEL
(715) 218-0692
Listed By:
LISA BERGMANN · License #66538
(715) 218-0692
Source:
Exprealty
Added: Jun 1
Changed: Aug 23
Last Checked: Aug 24 at 1:52PM
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 REMAX EXCEL
Investment Insights
Based on property information with market context.
This multi-tenant office building includes a first-floor tenant and a second-floor suite that is separately metered for utilities. The property has south- and east-facing sides that are designed for visibility and signage, and the south-facing windows provide a view of Rib Mountain ski area that an executive office could use.
The building’s south and east exposures offer prominent visibility from Stewart Ave and Hwy 29. The second-floor tenant has purchased a larger industrial building and is scheduled to vacate in early fall 2026, creating flexibility to lease the vacancy, deliver the building with the second floor vacant, or deliver it fully vacant if desired.
Current sellers pay all utilities, with gas/electric through WPSC and sewer/water through Wausau Water Works. They do not currently pass on any common area maintenance charges to tenants. With the second floor separately metered, a future tenant could assume utility expenses based on the negotiated terms, while an owner-operator may prefer maintaining the building as multi-tenant with the existing first-floor occupants.
The building’s south and east exposures offer prominent visibility from Stewart Ave and Hwy 29. The second-floor tenant has purchased a larger industrial building and is scheduled to vacate in early fall 2026, creating flexibility to lease the vacancy, deliver the building with the second floor vacant, or deliver it fully vacant if desired.
Current sellers pay all utilities, with gas/electric through WPSC and sewer/water through Wausau Water Works. They do not currently pass on any common area maintenance charges to tenants. With the second floor separately metered, a future tenant could assume utility expenses based on the negotiated terms, while an owner-operator may prefer maintaining the building as multi-tenant with the existing first-floor occupants.
Key Highlights
- Year built: 1980.
- South and east‑facing sides are highly visible from Stewart Ave and Hwy 29 for storefront‑style signage.
- South‑facing windows offer a view of the Rib Mountain ski area.
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
8.05%
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 8.05%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$1.14M
$999.1K – $1.33M
NOI $79,926 @ 7.0% cap · market cap 10.45%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
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
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 units - South and east visibility supports strong storefront-style signage for an owner-operator or multi-tenant office use.
Where is this office units located?
The property is located at 3205 Terrace Ct Wausau, WI.
What is the asking price?
The asking price for this property is $765,000.
What are key features of this property?
This property features: Year built: 1980.; South and east‑facing sides are highly visible from Stewart Ave and Hwy 29 for storefront‑style signage.; South‑facing windows offer a view of the Rib Mountain ski area.
