Freestanding Flex
New
For Sale
$599,000
5678 North Green Bay Avenue, Glendale, WI 53209
The adaptable space is presented as suitable for retail, office, or service-oriented operations.
Property Size4,110 SF
Price / SF$145.74
Days on Market2
Property Features for 5678 North Green Bay Avenue
General Information
Standard status
Active
Size
4,110 SF
Property subtype
FlexIndustrial
Building Details
Buildings
1
Listing Agency:
CBRE, Inc.
Listed By:
Devin Tessmer
(414) 274-1644
Source:
Cbre
Added: Sep 26
Last Checked: Sep 26 at 2:43PM
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 CBRE, Inc.
Investment Insights
Based on property information with market context.
This freestanding flex property contains 4,110 square feet. Its space is described as adaptable for retail, office, and service-oriented uses.
The building is at 5678 North Green Bay Avenue in Glendale, just off the E Silver Spring and N Green Bay Road intersection, with access to the Milwaukee market.
The building is at 5678 North Green Bay Avenue in Glendale, just off the E Silver Spring and N Green Bay Road intersection, with access to the Milwaukee market.
Key Highlights
- 4,110‑square‑foot freestanding commercial building
- Space described as adaptable for retail, office, or service‑oriented uses
- At 5678 North Green Bay Avenue in Glendale
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
$45,554
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
7.61%
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%
$911,080
$911.1K
Cap Rate 7%
$650,771
$650.8K
Cap Rate 9%
$506,156
$506.2K
Market Conditions
NOI Build-Up for 4,110 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
$71.5K $17.40/SF
− Vacancy
−$6.4K −$1.57/SF
EGI
$65.1K $15.83/SF
− OpEx
−$19.5K −$4.75/SF
NOI
$45.6K $11.08/SF
Area
ZIP 53209
Vacancy
9.00%
Lease Rate
$17.40 /SF/Yr
Expense Ratio
30.00%
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%
$911,080
Cap Rate 7%
$650,771
Cap Rate 9%
$506,156
Alternative Uses
Best Use
Retail
$650.8K
$569.4K – $759.2K
NOI $45,554 @ 7.0% cap · market cap 7.61%
Second Best
Flex RnD
$559.6K
$489.7K – $652.9K
NOI $39,175 @ 7.0% cap · market cap 6.54%
Theoretical Best
Office A
$987.7K
$864.2K – $1.15M
NOI $69,137 @ 7.0% cap · market cap 11.54%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
498
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 53209, WI
44,586
Population
21,466
Households
2.1
Avg Household Size
37
Median Age
25%
College-Educated
89%
High-School Grad
10.9 sq mi
ZIP Area
4,090
Density / Sq Mi
$45,288
Median Household Income
$33,854
Median Earnings
$980
Median Rent
$150,200
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Industrial in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - The adaptable space is presented as suitable for retail, office, or service-oriented operations.
Where is this flex space located?
The property is located at 5678 North Green Bay Avenue Glendale, WI.
What is the asking price?
The asking price for this property is $599,000.
What are key features of this property?
This property features: 4,110‑square‑foot freestanding commercial building; Space described as adaptable for retail, office, or service‑oriented uses; At 5678 North Green Bay Avenue in Glendale
