Building Details

Buildings 1

Listing Agency: Beiser Realty, LLC a***@beiserrealty.com Show Phone

Listed By: Andrew Beiser · License #52461-90

Source: Crexi

Added: Aug 6 Changed: Aug 11 Last Checked: Aug 11 at 9:17AM

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Investment Insights

Based on property information with market context.

This office unit is presented as a move-in-ready commercial space with a functional arrangement suited to professional business operations. The property carries B-2 zoning and is identified as an office unit within a commercial real estate offering.

Located at 5676 County Rd II in the Town of Winchester, Wisconsin, the property provides access to Highway 45 for employee and client travel. Its office configuration and established commercial zoning support a straightforward business occupancy profile.

Key Highlights

• Move‑in‑ready commercial office unit
• B‑2 zoning
• Convenient access to Highway 45

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

$11,907

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

4.43%

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%

$238,140 $238.1K

Cap Rate 7%

$170,100 $170.1K

Cap Rate 9%

$132,300 $132.3K

Market Conditions

NOI Build-Up for 1,050 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

$18.9K $18.00/SF

− Vacancy

−$3.0K −$2.88/SF

EGI

$15.9K $15.12/SF

− OpEx

−$4.0K −$3.78/SF

NOI

$11.9K $11.34/SF

Area

Winnebago County, WI

Vacancy

16.00%

Lease Rate

$18.00 /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%

$238,140

Cap Rate 7%

$170,100

Cap Rate 9%

$132,300

Alternative Uses

Best Use

Office B

$170.1K

$148.8K – $198.5K (±1% cap)

NOI $11,907 @ 7.0% cap · market cap 4.43%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$226.6K

$198.3K – $264.4K (±1% cap)

NOI $15,864 @ 7.0% cap · market cap 5.90%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Current Use

Office Units

Suggested Use

Top Pick Bed & Breakfast Hotel & Motel Bar & Pub

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

Highway access

Location Intelligence

Trade Area within ½ mile

5

Businesses Nearby

Explore this area Business Placement

Demographics for 54947, WI

2,667

Population

1,044

Households

2.6

Avg Household Size

47

Median Age

29%

College-Educated

96%

High-School Grad

46.5 sq mi

ZIP Area

57

Density / Sq Mi

$96,429

Median Household Income

$51,818

Median Earnings

$911

Median Rent

$266,700

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

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

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Frequently Asked Questions

What type of property is this?

Office units - B-2-zoned office space offers a practical setting with convenient access to Highway 45.

Where is this office units located?

The property is located at 5676 County Rd II Town of Winchester, WI.

What is the asking price?

The asking price for this property is $269,000.

What are key features of this property?

This property features: Move‑in‑ready commercial office unit; B‑2 zoning; Convenient access to Highway 45