Freestanding Retail Space with Anchor
3810 Calumet Ave, Manitowoc, WI 54220
For Sale
$2,000,000
Y, Manitowoc, WI
Property Size4,875 SF
Lot Size0.78 Acres
Price / SF$410.26
Days on Market864
Property Features for 3810 Calumet Ave
General Information
Property type
Property subtype
Zoning
Directions
Standard status
APN
Size
Lot size
Taxes and HOA fees
Tax Year
Tax Annual Amount
Building Details
Year built
Architectural style
Listing Agency:
Park Regency Real Estate LLC
(920) 682-0307
Listed By:
George Krause Jr · License WI #5172190
(920) 905-0550
Added: Jul 1, 2024
Changed: Oct 10
Last Checked: Nov 11 at 11:06PM
MLS# 1881963
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.
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Investment Insights
Based on property information with market context.
This freestanding retail property contains 4,875 square feet across three commercial spaces, each measuring 1,500 square feet or more. Completed in 2024, the building is designed around Papa Johns as the anchor occupant, with two additional spaces available for lease. The configuration provides a compact multi-space retail setting within one building.
The property occupies 0.78 acres in Manitowoc, Wisconsin, and includes parking for approximately 20+ cars. C-1 zoning supports its commercial retail positioning. The combination of a recent construction date, established anchor presence, multiple spaces, and on-site parking creates a straightforward format for retail leasing or ownership.
The property occupies 0.78 acres in Manitowoc, Wisconsin, and includes parking for approximately 20+ cars. C-1 zoning supports its commercial retail positioning. The combination of a recent construction date, established anchor presence, multiple spaces, and on-site parking creates a straightforward format for retail leasing or ownership.
Key Highlights
- Papa Johns serves as the anchor tenant
- 4,875 SF freestanding retail property completed in 2024
- Three total spaces, each measuring 1,500 sq ft +
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$63,019
Cap Rate
3.15%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,260,380
$1.3M
Cap Rate 7%
$900,271
$900.3K
Cap Rate 9%
$700,211
$700.2K
Market Conditions
NOI Build-Up for 4,875 SF
Gross rent
$92.4K $18.96/SF
− Vacancy
−$2.4K −$0.49/SF
EGI
$90.0K $18.47/SF
− OpEx
−$27.0K −$5.54/SF
NOI
$63.0K $12.93/SF
Area
Manitowoc County, WI
Vacancy
2.60%
Lease Rate
$18.96 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,260,380
Cap Rate 7%
$900,271
Cap Rate 9%
$700,211
Alternative Uses
Best Use
Retail
$900.3K
$787.7K – $1.05M
NOI $63,019 @ 7.0% cap · market cap 3.15%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$1.07M
$934.8K – $1.25M
NOI $74,785 @ 7.0% cap · market cap 3.74%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
691
Businesses Nearby
273k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Superstores 27%
Dining 20%
Groceries 16%
Shops & Services 16%
Walmart
Superstores
74,732 visits/mo
0.4 miles
Pick 'n Save
Groceries
26,097 visits/mo
0.4 miles
McDonald's
Dining
24,800 visits/mo
0.2 miles
Aldi
Groceries
17,701 visits/mo
0.4 miles
Harbor Freight Tools
Home Improvements & Furnishings
13,436 visits/mo
0.3 miles
Demographics for 54220, WI
40,737
Population
18,942
Households
2.2
Avg Household Size
44
Median Age
24%
College-Educated
91%
High-School Grad
98.7 sq mi
ZIP Area
413
Density / Sq Mi
$65,188
Median Household Income
$40,791
Median Earnings
$790
Median Rent
$159,500
Median Home Value
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Market
Vacancy Rate% for Retail in Midwest region
Frequently Asked Questions
What type of property is this?
Retail space - Newly constructed commercial property includes two additional spaces available for lease.
Where is this retail space located?
The property is located at 3810 Calumet Ave Manitowoc, WI.
What is the asking price?
The asking price for this property is $2,000,000.
What are key features of this property?
This property features: Papa Johns serves as the anchor tenant; 4,875 SF freestanding retail property completed in 2024; Three total spaces, each measuring 1,500 sq ft +
