Wausau Medical Campus Commercial
For Sale
Contact for pricing
520 N 28th Ave, Wausau, WI 54401
Commercial building near Aspirus Hospital, suitable for various uses.
Property Size10,854 SF
Price / SF$133.58
Days on Market989
Property Features for 520 N 28th Ave
General Information
Standard status
Active
Size
10,854 SF
Class
A
Property subtype
Office
Building Details
Year Built
1990
Year Renovated
2022
Buildings
1
Stories
2
Listing Agency:
Transworld Commercial Real Estate
(715) 849-5544
Listed By:
Tim Wimmer · License #WI 56224-90
Source:
Crexi
Added: Dec 7, 2023
Changed: Aug 14
Last Checked: Aug 21 at 5:04PM
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 Transworld Commercial Real Estate
Investment Insights
Based on property information with market context.
This commercial building is situated in the Wausau Medical Campus, located on 28th Avenue, a few blocks from Aspirus Hospital and other medical facilities. The property underwent a complete renovation in 2022. The main level features eleven private offices, four bathrooms, and a mezzanine suitable for multiple purposes. The lower level is built out as a childcare facility, including a reception area, three classrooms, a gym, a kitchen, a nurse’s office, two private offices, three bonus rooms, and storage space. A new fire suppression system has been installed throughout the building. Additional features include a laundry facility and recent mechanical upgrades. The exterior is landscaped and includes over 50 parking stalls. The 10,854 square foot building is suitable for office, medical, childcare, or school use. It is located on Wausau’s Northwest side, near Interstate 39, providing easy highway access.
Key Highlights
- Prime location within the Wausau Medical Campus, near Aspirus Hospital
- Complete renovation in 2022
- Lower level built out as a childcare facility with classrooms, gym, kitchen, and offices
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
$130,118
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
8.97%
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%
$2,602,360
$2.6M
Cap Rate 7%
$1,858,829
$1.9M
Cap Rate 9%
$1,445,756
$1.4M
Market Conditions
NOI Build-Up for 10,854 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
$234.4K $21.60/SF
− Vacancy
−$17.6K −$1.62/SF
EGI
$216.9K $19.98/SF
− OpEx
−$86.7K −$7.99/SF
NOI
$130.1K $11.99/SF
Area
Marathon County, WI
Vacancy
7.50%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
40.00%
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%
$2,602,360
Cap Rate 7%
$1,858,829
Cap Rate 9%
$1,445,756
Alternative Uses
Best Use
Healthcare Medical
$1.86M
$1.63M – $2.17M
NOI $130,118 @ 7.0% cap · market cap 8.97%
Second Best
Office B
$1.55M
$1.35M – $1.80M
NOI $108,197 @ 7.0% cap · market cap 7.46%
Theoretical Best
Specialty Retail
$2.01M
$1.75M – $2.34M
NOI $140,375 @ 7.0% cap · market cap 9.68%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,052
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 54401, WI
31,727
Population
14,230
Households
2.2
Avg Household Size
40
Median Age
31%
College-Educated
91%
High-School Grad
84.2 sq mi
ZIP Area
377
Density / Sq Mi
$69,542
Median Household Income
$40,796
Median Earnings
$969
Median Rent
$186,100
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?
Medical Office Space - Commercial building near Aspirus Hospital, suitable for various uses.
Where is this medical office space located?
The property is located at 520 N 28th Ave Wausau, WI.
What is the asking price?
The asking price for this property is $1,449,900.
What are key features of this property?
This property features: Prime location within the Wausau Medical Campus, near Aspirus Hospital; Complete renovation in 2022; Lower level built out as a childcare facility with classrooms, gym, kitchen, and offices
