New Commercial Office
For Sale
$309,900
421 North Star Rd, Holmen, WI 54636
Open-plan unit with in-unit heat and a private bathroom supports office, retail, or professional use.
Property Size1,650 SF
Days on Market200
Property Features for 421 North Star Rd
General Information
Standard status
Active
Size
1,650 SF
Total Parking Spaces
2
Property subtype
Commercial
Zoning
Commercial
Additional Details
Road Access
Yes
Taxes and HOA fees
Annual Taxes
$1,848
Amenities
heat
bathroom
Building Details
Building Size
1,650 SF
Year Built
2026
Listing Agency:
Gerrard-Hoeschler, REALTORS
(608) 781-7629
Listed By:
Hunter Clark · License #96416-94
(608) 781-7629
Source:
Therealtycompanyllc
Added: Jan 22
Changed: Aug 10
Last Checked: Aug 10 at 3:58AM
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 Gerrard-Hoeschler, REALTORS
Investment Insights
Based on property information with market context.
This commercial condominium unit was built in 2026 and provides an open interior arrangement for office, retail, or professional use. In-unit heat and a bathroom are included, giving the space core features for immediate planning and customization.
The property is located at 421 North Star Rd in Holmen, Wisconsin 54636. Road frontage provides direct access and exposure along the property’s street presence, supporting visibility for an operating business. The unit’s flexible layout can accommodate a range of commercial configurations without being limited to a single stated use.
The property is located at 421 North Star Rd in Holmen, Wisconsin 54636. Road frontage provides direct access and exposure along the property’s street presence, supporting visibility for an operating business. The unit’s flexible layout can accommodate a range of commercial configurations without being limited to a single stated use.
Key Highlights
- 2026‑built commercial condominium unit
- Open interior layout for office, retail, or professional use
- In‑unit heat included
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
$17,375
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
5.61%
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%
$347,500
$347.5K
Cap Rate 7%
$248,214
$248.2K
Cap Rate 9%
$193,056
$193.1K
Market Conditions
NOI Build-Up for 1,650 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
$29.7K $18.00/SF
− Vacancy
−$6.5K −$3.96/SF
EGI
$23.2K $14.04/SF
− OpEx
−$5.8K −$3.51/SF
NOI
$17.4K $10.53/SF
Area
La Crosse County, WI
Vacancy
22.00%
Lease Rate
$18.00 /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%
$347,500
Cap Rate 7%
$248,214
Cap Rate 9%
$193,056
Alternative Uses
Best Use
Office B
$248.2K
$217.2K – $289.6K
NOI $17,375 @ 7.0% cap · market cap 5.61%
Second Best
Retail
$237.1K
$207.5K – $276.6K
NOI $16,597 @ 7.0% cap · market cap 5.36%
Theoretical Best
Specialty Retail
$360.9K
$315.8K – $421.0K
NOI $25,260 @ 7.0% cap · market cap 8.15%
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
361
Businesses Nearby
Explore this area
Business Placement
Demographics for 54636, WI
16,338
Population
6,517
Households
2.5
Avg Household Size
39
Median Age
35%
College-Educated
97%
High-School Grad
83.0 sq mi
ZIP Area
197
Density / Sq Mi
$91,156
Median Household Income
$47,699
Median Earnings
$1,145
Median Rent
$290,600
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 units - Open-plan unit with in-unit heat and a private bathroom supports office, retail, or professional use.
Where is this office units located?
The property is located at 421 North Star Rd Holmen, WI.
What is the asking price?
The asking price for this property is $309,900.
What are key features of this property?
This property features: 2026‑built commercial condominium unit; Open interior layout for office, retail, or professional use; In‑unit heat included
