Flex Space Condos with Overhead
For Sale
$1,000,000
3439 County Highway D, West Bend, WI 53090
COMMERCIAL - West Bend, WI
Property Size7,200 SF
Lot Size11.90 Acres
Price / SF$138.89
Days on Market303
Property Features for 3439 County Highway D
General Information
Property type
Commercial Sale
Property subtype
Other
Property condition
Under Construction
Zoning
commercial
Directions
HWY 45, West on HWY D
Standard status
Active
APN
T2007500A
Size
7,200 SF
Lot size
11.90 Acres
Taxes and HOA fees
Tax Year
2024
Tax Annual Amount
44
Building Details
Year built
2025
Architectural style
Other
Listing Agency:
Boss Realty, LLC
(262) 689-0022
Listed By:
Thomas Zernia · License #5745190
(262) 689-0022
Added: Oct 23, 2025
Changed: Aug 4
Last Checked: Aug 21 at 7:06PM
MLS# 1940371
Copyright © 2026 Metro 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.
A brand-new flex space condo project is currently under construction, with a total building size of 7,200 square feet on an 11.9-acre site. The Barton Business Condominiums are being built as a four-unit configuration, with each unit designed to include a bathroom and an office.
The exterior includes operational access for loading and entry: the 4-plex is planned with 4 overhead doors and 4 man doors. Each unit is also described as including 3 outside parking spaces. The condos are located conveniently right off the highway in West Bend, Wisconsin, in Washington County.
Expected completion is Spring of 2026. The property is listed with a commercial zoning designation, and it is identified as under construction with a 2025 year built.
The exterior includes operational access for loading and entry: the 4-plex is planned with 4 overhead doors and 4 man doors. Each unit is also described as including 3 outside parking spaces. The condos are located conveniently right off the highway in West Bend, Wisconsin, in Washington County.
Expected completion is Spring of 2026. The property is listed with a commercial zoning designation, and it is identified as under construction with a 2025 year built.
Key Highlights
- Under‑construction flex‑space condo project totaling 7,200 SF on 11.9 acres
- Four‑unit building with each unit including a bathroom and an office
- Planned with 4 overhead doors and 4 man doors for access
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
$31,803
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
3.18%
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%
$636,060
$636.1K
Cap Rate 7%
$454,329
$454.3K
Cap Rate 9%
$353,367
$353.4K
Market Conditions
NOI Build-Up for 7,200 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
$39.4K $5.47/SF
− Vacancy
−$2.0K −$0.27/SF
EGI
$37.4K $5.20/SF
− OpEx
−$5.6K −$0.78/SF
NOI
$31.8K $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%
$636,060
Cap Rate 7%
$454,329
Cap Rate 9%
$353,367
Alternative Uses
Best Use
Office B
$1.46M
$1.28M – $1.71M
NOI $102,373 @ 7.0% cap · market cap 10.24%
Second Best
Warehouse
$454.3K
$397.5K – $530.1K
NOI $31,803 @ 7.0% cap · market cap 3.18%
Theoretical Best
Office A
$1.98M
$1.73M – $2.31M
NOI $138,557 @ 7.0% cap · market cap 13.86%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Drive-in doors
4
Office units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
34
Businesses Nearby
Well-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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Flex space - Under-construction flex-space commercial condos off the highway, with each unit featuring a bathroom, office, and exterior 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 $1,000,000.
What are key features of this property?
This property features: Under‑construction flex‑space condo project totaling 7,200 SF on 11.9 acres; Four‑unit building with each unit including a bathroom and an office; Planned with 4 overhead doors and 4 man doors for access
