Visible Multi-Tenant Office
For Sale
$670,000
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$108.41
Days on Market146
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
Listed By:
LISA BERGMANN · License #66538
(715) 218-0692
Source:
Exprealty
Added: Jun 1
Changed: Oct 5
Last Checked: Oct 23 at 8:57AM
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
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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 / Yr
$61,605
Cap Rate
9.19%
Suggested Prices Based on Cap Rates
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
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 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.
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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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in Midwest region
Frequently Asked Questions
What type of property is this?
Office unit - South and east visibility supports strong storefront-style signage for an owner-operator or multi-tenant office use.
Where is this office unit located?
The property is located at 3205 Terrace Ct 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: 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.
