Heated Garage Flex
For Sale
$165,900
537 Caldwell Ave, Oconto Falls, WI 54141
Flex building with front office, private office, kitchenette, and an adjoining heated garage/shop.
Property Size1,280 SF
Price / SF$129.61
Days on Market48
Property Features for 537 Caldwell Ave
General Information
Standard status
Active
Size
1,280 SF
Additional Details
Highway Access
Yes
Building Details
Year Built
1940
Listing Agency:
Keller Williams Green Bay
Listed By:
Ann M Senn · License #9445527
(920) 373-6705
Source:
Moving2greenbay
Added: Jul 26
Changed: Sep 8
Last Checked: Sep 9 at 10:42PM
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 Keller Williams Green Bay
Investment Insights
Based on property information with market context.
This flex building includes a front office/reception area, a separate private office, a half bath, and a kitchenette. It also features an adjoining heated garage/shop with a shower and laundry.
The property provides easy access to highways. It is located in Oconto Falls, approximately a half hour north of Green Bay.
As configured, the space supports both office and shop needs within a single building footprint.
The property provides easy access to highways. It is located in Oconto Falls, approximately a half hour north of Green Bay.
As configured, the space supports both office and shop needs within a single building footprint.
Key Highlights
- Flex building with front office/reception area and a separate private office
- Includes 1/2 bath and kitchenette for office use
- Adjoining heated garage/shop includes a shower and laundry
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
$11,502
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%
$230,040
$230.0K
Cap Rate 7%
$164,314
$164.3K
Cap Rate 9%
$127,800
$127.8K
Market Conditions
NOI Build-Up for 1,280 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
$18.4K $14.40/SF
− Vacancy
−$737 −$0.58/SF
EGI
$17.7K $13.82/SF
− OpEx
−$6.2K −$4.84/SF
NOI
$11.5K $8.99/SF
Area
Oconto County, WI
Vacancy
4.00%
Lease Rate
$14.40 /SF/Yr
Expense Ratio
35.00%
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%
$230,040
Cap Rate 7%
$164,314
Cap Rate 9%
$127,800
Alternative Uses
Best Use
Flex RnD
$164.3K
$143.8K – $191.7K
NOI $11,502 @ 7.0% cap · market cap 6.93%
Second Best
Warehouse
$88.7K
$77.7K – $103.5K
NOI $6,212 @ 7.0% cap · market cap 3.74%
Theoretical Best
Office A
$298.4K
$261.1K – $348.2K
NOI $20,890 @ 7.0% cap · market cap 12.59%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
291
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 54141, WI
2,731
Population
1,309
Households
2.1
Avg Household Size
44
Median Age
19%
College-Educated
93%
High-School Grad
25.5 sq mi
ZIP Area
107
Density / Sq Mi
$100,370
Median Household Income
$53,586
Median Earnings
$906
Median Rent
$269,000
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Industrial in Midwest region
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Frequently Asked Questions
What type of property is this?
Flex space - Flex building with front office, private office, kitchenette, and an adjoining heated garage/shop.
Where is this flex space located?
The property is located at 537 Caldwell Ave Oconto Falls, WI.
What is the asking price?
The asking price for this property is $165,900.
What are key features of this property?
This property features: Flex building with front office/reception area and a separate private office; Includes 1/2 bath and kitchenette for office use; Adjoining heated garage/shop includes a shower and laundry
