Renovated Multi-Level Office
For Sale
$799,500
401 Host Dr, Lake Geneva, WI 53147
Business-zoned property offers flexible office and support areas across two finished levels.
Property Size4,600 SF
Days on Market168
Property Features for 401 Host Dr
General Information
Standard status
Active
Size
4,600 SF
Total Parking Spaces
21
Property subtype
Commercial
Zoning
Business
Additional Details
Road Access
Yes
Taxes and HOA fees
Annual Taxes
$4,999
Building Details
Building Size
4,600 SF
Year Built
1988
Buildings
1
Listing Agency:
Berkshire Hathaway Starck Real Estate
(262) 275-2185
Listed By:
Rebecca Merwin
(262) 275-2185
Source:
Therealtycompanyllc
Added: Mar 6
Changed: Aug 21
Last Checked: Aug 21 at 4:15AM
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 Berkshire Hathaway Starck Real Estate
Investment Insights
Based on property information with market context.
Located at 401 Host Dr in Lake Geneva, this office building provides a multi-level layout with recently updated finishes. The main floor includes 8 offices, 2 bathrooms, a kitchen, and a large foyer. The lower level adds a substantial open room with walkout exits, along with 2 offices and 2 bathrooms. The configuration may accommodate separation between two businesses, subject to applicable requirements.
Site improvements include a paved lot with 21 parking spaces, a concrete handicap-accessible entrance at the front, and a rear patio. Flooring, paint, lighting, and other interior elements have been renovated. The property is zoned Business and was built in 1988. Its position on Host Dr, a no-outlet street, provides a setting for office operations away from through traffic.
Site improvements include a paved lot with 21 parking spaces, a concrete handicap-accessible entrance at the front, and a rear patio. Flooring, paint, lighting, and other interior elements have been renovated. The property is zoned Business and was built in 1988. Its position on Host Dr, a no-outlet street, provides a setting for office operations away from through traffic.
Key Highlights
- Main level includes 8 offices, 2 bathrooms, a kitchen, and a large foyer
- Lower level features a substantial room with walkout exits plus 2 offices and 2 bathrooms
- Layout may support separation between two businesses
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
$40,365
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
5.05%
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%
$807,300
$807.3K
Cap Rate 7%
$576,643
$576.6K
Cap Rate 9%
$448,500
$448.5K
Market Conditions
NOI Build-Up for 4,600 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
$69.0K $15.00/SF
− Vacancy
−$15.2K −$3.30/SF
EGI
$53.8K $11.70/SF
− OpEx
−$13.5K −$2.93/SF
NOI
$40.4K $8.78/SF
Area
Walworth County, WI
Vacancy
22.00%
Lease Rate
$15.00 /SF/Yr
Expense Ratio
25.00%
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%
$807,300
Cap Rate 7%
$576,643
Cap Rate 9%
$448,500
Alternative Uses
Best Use
Office B
$576.6K
$504.6K – $672.8K
NOI $40,365 @ 7.0% cap · market cap 5.05%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$887.7K
$776.8K – $1.04M
NOI $62,141 @ 7.0% cap · market cap 7.77%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
311
Businesses Nearby
Explore this area
Business Placement
Demographics for 53147, WI
17,859
Population
11,455
Households
1.6
Avg Household Size
47
Median Age
40%
College-Educated
93%
High-School Grad
69.8 sq mi
ZIP Area
256
Density / Sq Mi
$83,018
Median Household Income
$45,399
Median Earnings
$1,277
Median Rent
$337,000
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?
Office building - Business-zoned property offers flexible office and support areas across two finished levels.
Where is this office building located?
The property is located at 401 Host Dr Lake Geneva, WI.
What is the asking price?
The asking price for this property is $799,500.
What are key features of this property?
This property features: Main level includes 8 offices, 2 bathrooms, a kitchen, and a large foyer; Lower level features a substantial room with walkout exits plus 2 offices and 2 bathrooms; Layout may support separation between two businesses
