Building Details

Year Built 1971

Buildings 1

Construction masonry

Listing Agency: Realty Executives Integrity~Brookfield

Listed By: Tim Martinez · License #59365-90 Show Phone

Source: Nikolicgroup

Added: Jul 17 Changed: Oct 9 Last Checked: Oct 13 at 12:32AM

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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 Realty Executives Integrity~Brookfield

Investment Insights

Based on property information with market context.

Built in 1971, this 3,869-square-foot office building features masonry construction and a layout that can accommodate changing operational needs. The main floor includes five private offices, a large lobby, at-grade access, and three primary entrances.

Located at 427 Manitowoc St in Reedsville, Wisconsin, the property is reached from two street entries serving a 12-car parking lot. A green space behind the building abuts the park, adding an open area to the rear of the site. The configuration is also identified as adaptable for retail, service, municipal, assisted living, distribution, medical, and multifamily uses.

Key Highlights

• 3,869‑square‑foot office building constructed in 1971
• Masonry construction with at‑grade entry
• Five private offices and a large lobby

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$14,362

Cap Rate

4.42%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$287,240 $287.2K

Cap Rate 7%

$205,171 $205.2K

Cap Rate 9%

$159,578 $159.6K

Market Conditions

NOI Build-Up for 3,869 SF

Gross rent

$20.9K $5.40/SF

− Vacancy

−$376 −$0.10/SF

EGI

$20.5K $5.30/SF

− OpEx

−$6.2K −$1.59/SF

NOI

$14.4K $3.71/SF

Area

Manitowoc County, WI

Vacancy

1.80%

Lease Rate

$5.40 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$287,240

Cap Rate 7%

$205,171

Cap Rate 9%

$159,578

Alternative Uses

Best Use

Office B

$538.4K

$471.1K – $628.1K (±1% cap)

NOI $37,688 @ 7.0% cap · market cap 11.60%

Second Best

Flex RnD

$502.8K

$439.9K – $586.6K (±1% cap)

NOI $35,195 @ 7.0% cap · market cap 10.83%

Theoretical Best

Specialty Retail

$847.9K

$741.9K – $989.2K (±1% cap)

NOI $59,352 @ 7.0% cap · market cap 18.27%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Office buildings

Suggested Use

Top Pick Parking Lot & Garage Dental Office Building Supply (Bike/Boat/Book/etc) Store Furniture & Home Goods Garden Center

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

Yes

Paved road access

Location Intelligence

Trade Area within ½ mile

88

Businesses Nearby

Explore this area Business Placement

Demographics for 54230, WI

4,623

Population

1,789

Households

2.6

Avg Household Size

44

Median Age

17%

College-Educated

91%

High-School Grad

109.0 sq mi

ZIP Area

42

Density / Sq Mi

$78,964

Median Household Income

$46,392

Median Earnings

$650

Median Rent

$205,100

Median Home Value

Market

Vacancy Rate% for Office in Midwest region

13.7% 2019

15.6% 2020

17.1% 2021

18.9% 2022

21% 2023

22% 2024

21.3% 2025

Questions? Ask Rey

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What type of property is this? Where is this office buildings located? What is the asking price? Find similar properties What are key features of this property?

Frequently Asked Questions

What type of property is this?

Office building - Masonry office property with at-grade access, multiple entries, and a lobby-centered layout.

Where is this office building located?

The property is located at 427 Manitowoc St Reedsville, WI.

What is the asking price?

The asking price for this property is $324,900.

What are key features of this property?

This property features: 3,869‑square‑foot office building constructed in 1971; Masonry construction with at‑grade entry; Five private offices and a large lobby