Sheboygan Office Building For
For Sale
Contact for pricing
3422 Wilgus Ave, Sheboygan, WI 53081
Office building for sale with State of Wisconsin lease.
Property Size8,200 SF
Price / SF$137.38
Days on Market2283
Property Features for 3422 Wilgus Ave
General Information
Standard status
Active
Size
8,200 SF
Class
B
Total Parking Spaces
64
Property subtype
Office
Zoning
BB5
Occupancy
100%
Lease Type
Gross
Net Operating Income
$102,295
Building Details
Year Built
1994
Buildings
22
Stories
1
Tenancy
Single
Listing Agency:
NAI Pfefferle
Listed By:
T.J. Morice, SIOR · License #WI 89917-94
Source:
Crexi
Added: Jul 23, 2020
Changed: Oct 16
Last Checked: Oct 20 at 6:46PM
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 NAI Pfefferle
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Investment Insights
Based on property information with market context.
This commercial real estate property is an office building with a State of Wisconsin lease. The property has a size of 8200 square feet.
Key Highlights
- State of WI lease
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$89,353
Cap Rate
7.93%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,787,060
$1.8M
Cap Rate 7%
$1,276,471
$1.3M
Cap Rate 9%
$992,811
$992.8K
Market Conditions
NOI Build-Up for 8,200 SF
Gross rent
$142.7K $17.40/SF
− Vacancy
−$23.5K −$2.87/SF
EGI
$119.1K $14.53/SF
− OpEx
−$29.8K −$3.63/SF
NOI
$89.4K $10.90/SF
Area
Sheboygan County, WI
Vacancy
16.50%
Lease Rate
$17.40 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,787,060
Cap Rate 7%
$1,276,471
Cap Rate 9%
$992,811
Alternative Uses
Best Use
Office B
$1.28M
$1.12M – $1.49M
NOI $89,353 @ 7.0% cap · market cap 7.93%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.79M
$1.56M – $2.08M
NOI $125,098 @ 7.0% cap · market cap 11.10%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
870
Businesses Nearby
Explore this area
Business Placement
Demographics for 53081, WI
43,465
Population
20,121
Households
2.2
Avg Household Size
38
Median Age
22%
College-Educated
90%
High-School Grad
23.3 sq mi
ZIP Area
1,865
Density / Sq Mi
$62,401
Median Household Income
$42,329
Median Earnings
$866
Median Rent
$169,700
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
Frequently Asked Questions
What type of property is this?
Office building - Office building for sale with State of Wisconsin lease.
Where is this office building located?
The property is located at 3422 Wilgus Ave Sheboygan, WI.
What is the asking price?
The asking price for this property is $1,126,528.
What are key features of this property?
This property features: State of WI lease
