New Flex Space
For Sale
$264,900
3439 County Highway D, West Bend, WI 53090
Commercial condominium units include private offices, bathrooms, and dedicated outdoor parking.
Property Size1,800 SF
Days on Market324
Property Features for 3439 County Highway D
General Information
Standard status
Active
Size
1,800 SF
Total Parking Spaces
3
Property subtype
Commercial
Zoning
commercial
Taxes and HOA fees
Annual Taxes
$43
Building Details
Building Size
1,800 SF
Year Built
2025
Listing Agency:
Boss Realty, LLC
(262) 689-0022
Listed By:
Thomas Zernia · License #5745190
(262) 689-0022
Source:
Therealtycompanyllc
Added: Oct 3, 2025
Changed: Aug 21
Last Checked: Aug 21 at 5:48AM
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 Boss Realty, LLC
Investment Insights
Based on property information with market context.
Commercial condominium units are being developed within Barton Business Condominiums near County Highway D in West Bend. Each unit is planned with a bathroom, an office, and three outdoor parking spaces. The property is identified for commercial use, with additional add-ons available at the buyer’s expense.
Key Highlights
- Commercial condominium units under development
- Each unit includes a bathroom and office
- Three outdoor parking spaces per unit
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
$7,951
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
3.00%
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%
$159,020
$159.0K
Cap Rate 7%
$113,586
$113.6K
Cap Rate 9%
$88,344
$88.3K
Market Conditions
NOI Build-Up for 1,800 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
$9.8K $5.47/SF
− Vacancy
−$492 −$0.27/SF
EGI
$9.4K $5.20/SF
− OpEx
−$1.4K −$0.78/SF
NOI
$8.0K $4.42/SF
Area
Washington County, WI
Vacancy
5.00%
Lease Rate
$5.47 /SF/Yr
Expense Ratio
15.00%
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%
$159,020
Cap Rate 7%
$113,586
Cap Rate 9%
$88,344
Alternative Uses
Best Use
Office B
$365.6K
$319.9K – $426.6K
NOI $25,593 @ 7.0% cap · market cap 9.66%
Second Best
Warehouse
$113.6K
$99.4K – $132.5K
NOI $7,951 @ 7.0% cap · market cap 3.00%
Theoretical Best
Office A
$494.8K
$433.0K – $577.3K
NOI $34,639 @ 7.0% cap · market cap 13.08%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
879
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 53090, WI
21,478
Population
9,247
Households
2.3
Avg Household Size
43
Median Age
29%
College-Educated
95%
High-School Grad
57.9 sq mi
ZIP Area
371
Density / Sq Mi
$87,786
Median Household Income
$49,156
Median Earnings
$1,132
Median Rent
$267,500
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?
Flex space - Commercial condominium units include private offices, bathrooms, and dedicated outdoor parking.
Where is this flex space located?
The property is located at 3439 County Highway D West Bend, WI.
What is the asking price?
The asking price for this property is $264,900.
What are key features of this property?
This property features: Commercial condominium units under development; Each unit includes a bathroom and office; Three outdoor parking spaces per unit
