Retail Property on 0.81
For Sale
Contact for pricing
Pending
3950 Calumet Ave, Manitowoc, WI 54220
Retail property with redevelopment potential on 0.81 acres.
Property Size5,740 SF
Lot Size0.81 Acres
Days on Market180
Property Features for 3950 Calumet Ave
General Information
Standard status
Pending
Size
5,740 SF
Lot size
0.81 Acres
Property subtype
Business for Sale, Retail
Investment Type
Redevelopment
Building Details
Year Built
1977
Units
1
Tenancy
Single
Listing Agency:
Marcus & Millichap - Milwaukee
(262) 364-1930
Listed By:
Jeff Rowlett · License #WI 74743
Source:
Crexi
Added: Feb 13
Changed: Aug 8
Last Checked: Aug 8 at 2:50PM
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 Marcus & Millichap - Milwaukee
Investment Insights
Based on property information with market context.
This commercial real estate offering includes both the business and the real estate, presenting a potential redevelopment opportunity. The property is situated on 0.81 acres and features a 5,740-square-foot building.
Key Highlights
- Redevelopment Opportunity
- Large Lot Size: .81 Acres
- Includes Business & Real Estate
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
$74,201
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
5.12%
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%
$1,484,020
$1.5M
Cap Rate 7%
$1,060,014
$1.1M
Cap Rate 9%
$824,456
$824.5K
Market Conditions
NOI Build-Up for 5,740 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
$108.8K $18.96/SF
− Vacancy
−$2.8K −$0.49/SF
EGI
$106.0K $18.47/SF
− OpEx
−$31.8K −$5.54/SF
NOI
$74.2K $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 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%
$1,484,020
Cap Rate 7%
$1,060,014
Cap Rate 9%
$824,456
Alternative Uses
Best Use
Retail
$1.06M
$927.5K – $1.24M
NOI $74,201 @ 7.0% cap · market cap 5.12%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$1.26M
$1.10M – $1.47M
NOI $88,054 @ 7.0% cap · market cap 6.07%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
625
Businesses Nearby
117k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 55%
Groceries 22%
Dining 21%
Electronics 2%
Pick 'n Save
Groceries
26,097 visits/mo
0.4 miles
Hobby Lobby
Shops & Services
24,350 visits/mo
0.2 miles
Kwik Trip
Shops & Services
12,692 visits/mo
0.5 miles
Burger King
Dining
10,735 visits/mo
0.3 miles
BP
Shops & Services
9,126 visits/mo
0.2 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
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Retail property - Retail property with redevelopment potential on 0.81 acres.
Where is this retail property located?
The property is located at 3950 Calumet Ave Manitowoc, WI.
What is the asking price?
The asking price for this property is $1,450,000.
What are key features of this property?
This property features: Redevelopment Opportunity; Large Lot Size: .81 Acres; Includes Business & Real Estate
