Flexible Retail and Light Industrial
For Sale
$250,000
422 Broad Street, Menasha, WI 54952
Flexible building with office areas, production/work space, and a loading dock off Highway 441 access.
Property Size3,500 SF
Price / SF$71.43
Days on Market85
Property Features for 422 Broad Street
General Information
Standard status
Active
Size
3,500 SF
Additional Details
Highway Access
Yes
Taxes and HOA fees
Annual Taxes
$2,476
Listing Agency:
Century 21 Ace Realty
(920) 378-6555
Listed By:
Ryan Hawkins · License #9481654
(920) 378-6555
Source:
Exprealty
Added: Jun 2
Changed: Aug 25
Last Checked: Aug 25 at 9:45AM
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 Century 21 Ace Realty
Investment Insights
Based on property information with market context.
This flexible commercial building is approximately 3,500 sq ft and is set up with multiple office areas alongside production/work space. The interior also includes a kitchen/break area, two public restrooms, and a full lower level. A loading dock supports receiving and back-of-house operations, while onsite and street parking accommodates staff and visitors. The current layout is being used as a print shop, and the configuration is designed to support a range of commercial uses.
The property is located near downtown Menasha with convenient Highway 441 access, making it easier for customers, employees, and vendors to reach the site. Parking is available both onsite and along the street, which can help during day-to-day operations.
With office, service, retail, light production, contractor, studio, and owner-user business options described as workable in the existing layout, this building may fit tenants or buyers looking for a mixed-use environment under one roof. The combination of office space, production/work area, and loading access can support businesses that need both a customer-facing component and operational space.
The property is located near downtown Menasha with convenient Highway 441 access, making it easier for customers, employees, and vendors to reach the site. Parking is available both onsite and along the street, which can help during day-to-day operations.
With office, service, retail, light production, contractor, studio, and owner-user business options described as workable in the existing layout, this building may fit tenants or buyers looking for a mixed-use environment under one roof. The combination of office space, production/work area, and loading access can support businesses that need both a customer-facing component and operational space.
Key Highlights
- Approximately 3,500 sq ft commercial building built in 1970
- Includes multiple office areas plus production/work space for a variety of business uses
- Kitchen/break area and two public restrooms
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
$17,327
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
6.93%
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%
$346,540
$346.5K
Cap Rate 7%
$247,529
$247.5K
Cap Rate 9%
$192,522
$192.5K
Market Conditions
NOI Build-Up for 3,500 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
$27.3K $7.80/SF
− Vacancy
−$2.5K −$0.73/SF
EGI
$24.8K $7.07/SF
− OpEx
−$7.4K −$2.12/SF
NOI
$17.3K $4.95/SF
Area
Winnebago County, WI
Vacancy
9.33%
Lease Rate
$7.80 /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%
$346,540
Cap Rate 7%
$247,529
Cap Rate 9%
$192,522
Alternative Uses
Best Use
Flex RnD
$442.0K
$386.8K – $515.7K
NOI $30,941 @ 7.0% cap · market cap 12.38%
Second Best
Industrial
$247.5K
$216.6K – $288.8K
NOI $17,327 @ 7.0% cap · market cap 6.93%
Theoretical Best
Office A
$755.4K
$661.0K – $881.3K
NOI $52,880 @ 7.0% cap · market cap 21.15%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
444
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 54952, WI
27,216
Population
12,412
Households
2.2
Avg Household Size
39
Median Age
25%
College-Educated
93%
High-School Grad
28.1 sq mi
ZIP Area
969
Density / Sq Mi
$67,280
Median Household Income
$44,765
Median Earnings
$906
Median Rent
$190,000
Median Home Value
Market
Vacancy Rate% for Industrial in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Flexible building with office areas, production/work space, and a loading dock off Highway 441 access.
Where is this flex space located?
The property is located at 422 Broad Street Menasha, WI.
What is the asking price?
The asking price for this property is $250,000.
What are key features of this property?
This property features: Approximately 3,500 sq ft commercial building built in 1970; Includes multiple office areas plus production/work space for a variety of business uses; Kitchen/break area and two public restrooms
