Highway Commercial Land
For Sale
$395,000
5500 Prairie Drive, Plover, WI 54467
C-4 highway commercial parcel with office space and mini warehouse units for flexible business operations and expansion.
Property Size1,200 SF
Lot Size3.00 Acres
Price / SF$329.17
Days on Market216
Property Features for 5500 Prairie Drive
General Information
Standard status
Active
Size
1,200 SF
Lot size
3.00 Acres
Property subtype
Commercial
Zoning
C-4
Additional Details
Highway Access
Yes
Building Details
Building Size
1,200 SF
Units
1
Tenancy
Multi
Listing Agency:
Exp - Elite Realty
(715) 630-5478
Listed By:
Elite Realty Team - Tiffany Broecker & Todd Reilly · License #5023090
(715) 630-5478
Source:
Northwoodswi
Added: Jan 21
Changed: Aug 23
Last Checked: Aug 24 at 1:06PM
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 Exp - Elite Realty
Investment Insights
Based on property information with market context.
This C-4 highway commercial parcel offers flexible development and operational options, anchored by a custom-built 1,200 sq. ft. office building with a full basement. The property also includes a 10x23 mini warehouse building configured as 10 individual units, providing built-in storage and a straightforward setup for unit-based use.
Located near the intersection of I-39 and State Highway 54 in Plover, Wisconsin, the site is positioned for highway-oriented access, including suitability for semi-truck traffic for applicable uses. The parcel abuts an additional 2.5-acre commercial property that is currently owned and used in conjunction with the site for an established truck leasing operation (see MLS #:22600220), which may support multi-parcel planning or expansion.
The combination of office space, basement area, and multiple mini warehouse units makes the property practical for businesses seeking an operations base with yard-style commercial land. It also offers a workable configuration for tenants or owner-operators who want onsite administrative space while maintaining dedicated storage through the 10 unit warehouse building. For buyers evaluating a highway commercial site with existing improvements and the ability to coordinate with adjacent acreage, this property provides a clear starting point.
Located near the intersection of I-39 and State Highway 54 in Plover, Wisconsin, the site is positioned for highway-oriented access, including suitability for semi-truck traffic for applicable uses. The parcel abuts an additional 2.5-acre commercial property that is currently owned and used in conjunction with the site for an established truck leasing operation (see MLS #:22600220), which may support multi-parcel planning or expansion.
The combination of office space, basement area, and multiple mini warehouse units makes the property practical for businesses seeking an operations base with yard-style commercial land. It also offers a workable configuration for tenants or owner-operators who want onsite administrative space while maintaining dedicated storage through the 10 unit warehouse building. For buyers evaluating a highway commercial site with existing improvements and the ability to coordinate with adjacent acreage, this property provides a clear starting point.
Key Highlights
- 3‑acre C‑4 highway commercial parcel near I‑39 and State Highway 54 in Plover, WI
- Custom‑built 1,200 SF office building with full basement included
- 10x23 mini warehouse building with 10 individual units for storage or potential rental income
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
$11,204
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
2.84%
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%
$224,080
$224.1K
Cap Rate 7%
$160,057
$160.1K
Cap Rate 9%
$124,489
$124.5K
Market Conditions
NOI Build-Up for 1,200 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
$19.2K $15.96/SF
− Vacancy
−$4.2K −$3.51/SF
EGI
$14.9K $12.45/SF
− OpEx
−$3.7K −$3.11/SF
NOI
$11.2K $9.34/SF
Area
Portage County, WI
Vacancy
22.00%
Lease Rate
$15.96 /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%
$224,080
Cap Rate 7%
$160,057
Cap Rate 9%
$124,489
Alternative Uses
Best Use
Office B
$160.1K
$140.1K – $186.7K
NOI $11,204 @ 7.0% cap · market cap 2.84%
Second Best
Flex RnD
$155.4K
$136.0K – $181.4K
NOI $10,881 @ 7.0% cap · market cap 2.75%
Theoretical Best
Specialty Retail
$233.5K
$204.3K – $272.5K
NOI $16,347 @ 7.0% cap · market cap 4.14%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
39
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 54467, WI
14,850
Population
6,233
Households
2.4
Avg Household Size
39
Median Age
39%
College-Educated
93%
High-School Grad
66.4 sq mi
ZIP Area
224
Density / Sq Mi
$82,255
Median Household Income
$46,850
Median Earnings
$1,042
Median Rent
$244,400
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?
Flex space - C-4 highway commercial parcel with office space and mini warehouse units for flexible business operations and expansion.
Where is this flex space located?
The property is located at 5500 Prairie Drive Plover, WI.
What is the asking price?
The asking price for this property is $395,000.
What are key features of this property?
This property features: 3‑acre C‑4 highway commercial parcel near I‑39 and State Highway 54 in Plover, WI; Custom‑built 1,200 SF office building with full basement included; 10x23 mini warehouse building with 10 individual units for storage or potential rental income
