Two-Story Medical Office Flex
3605 Stewart Avenue Wausau, WI 54401
3605 Stewart Avenue, Wausau, WI, 54401
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For Sale
Contact for pricing
Vacant two-story flex building with modern 2003/2004 construction, ample parking, and Stewart Avenue visibility in Wausau.
Property Size30,800 SF
Lot Size2.83 Acres
Price / SF$100.65
Days on Market49
Property Features for 3605 Stewart Avenue
General Information
- Standard status
- Active
- Size
- 30,800 SF
- Lot size
- 2.83 Acres
- Property subtype
- Office, Industrial
Listing agency
Colliers - Milwaukee, Wisconsin
(414) 278-6825
Listed by
Gregory Anderson · License #111994 - 94
Source
Crexi
Added: Jun 3 Updated: Jul 21 at 1:50AM Checked: Jul 21 at 4:55AM
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 Colliers - Milwaukee, Wisconsin
Investment Insights
Based on property information with market context.
3605 Stewart Avenue is a vacant, two-story flex building designed for medical office or institutional-style uses. Constructed in 2003/2004, the property offers a flexible layout for a multi-tenant or single-tenant configuration and is positioned for long-term usability. The building sits on 2.83 acres and totals 30,800 SF.
Located along Stewart Avenue in Wausau’s primary healthcare and professional corridor, the site benefits from strong street visibility. The property also features ample parking and is identified as SO zoning.
For buyers seeking a flexible, lease-up-ready asset in a healthcare and professional environment, this property provides a modern construction profile relative to the market and adaptable space for qualifying office and institutional needs.
Located along Stewart Avenue in Wausau’s primary healthcare and professional corridor, the site benefits from strong street visibility. The property also features ample parking and is identified as SO zoning.
For buyers seeking a flexible, lease-up-ready asset in a healthcare and professional environment, this property provides a modern construction profile relative to the market and adaptable space for qualifying office and institutional needs.
Key Highlights
- Vacant 2‑story flex building totaling 30,800 SF in Wausau
- Sits on 2.83 acres with strong visibility along Stewart Avenue
- Modern 2003/2004 construction profile
Local Financial Insights For Flex RnD
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $443.5k | $14.40 |
| − Vacancy | −$30.2k | −$0.98 |
| EGI | $413.4k | $13.42 |
| − OpEx | −$144.7k | −$4.70 |
| NOI | $268.7k | $8.72 |
30,800 SF · lease $14.40/SF/yr · vacancy 6.80% · expense 35.00%
Alternative Uses
Best Use
Healthcare Medical
$5.27M
$4.62M – $6.15M
NOI $369,230 @ 7.0% cap · market cap 11.91%
Second Best
Office B
$4.39M
$3.84M – $5.12M
NOI $307,027 @ 7.0% cap · market cap 9.90%
Theoretical Best
Specialty Retail
$5.69M
$4.98M – $6.64M
NOI $398,336 @ 7.0% cap · market cap 12.85%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Marshfield Clinic Stettin ...
Medical Clinic
Heather L. Meyering, ...
Physician
Patrick Kinney, PT
Physician
Cole Harry C ...
Physician
Eric R Penniman ...
Pediatrician
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FAQs
What type of property is this?
Flex space - Vacant two-story flex building with modern 2003/2004 construction, ample parking, and Stewart Avenue visibility in Wausau.
Where is this flex space located?
The property is located at 3605 Stewart Avenue Wausau, WI.
What is the asking price?
The asking price for this property is $3,100,000.
What are key features of this property?
This property features: Vacant 2‑story flex building totaling 30,800 SF in Wausau; Sits on 2.83 acres with strong visibility along Stewart Avenue; Modern 2003/2004 construction profile
