Two-Story Office
For Sale
$349,900
614 N 6th St, Sheboygan, WI 53081
Professional office layout with reception, waiting, workrooms, break areas, and rear parking.
Property Size2,352 SF
Price / SF$148.77
Days on Market8
Property Features for 614 N 6th St
General Information
Standard status
Active
Size
2,352 SF
Building Details
Year Built
1911
Listing Agency:
Century 21 Moves
(920) 803-3705
Listed By:
Steven Opgenorth · License #41015-94
Source:
Nikolicgroup
Added: Aug 24
Changed: Aug 30
Last Checked: Aug 30 at 1:26PM
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 Century 21 Moves
Investment Insights
Based on property information with market context.
Built in 1911, this 2,352-square-foot office building provides two levels of professional workspace. The main floor includes three offices, a reception area, waiting room, break room, and half bath. The upper level contains six offices, an additional break room, and half bath. The main-floor bathroom is currently not functioning.
The property is located at 614 N 6th St in Sheboygan, directly across from the Sheboygan Courthouse. Ten parking stalls are positioned behind the building. Exterior vinyl siding was installed in 2013, and the roof was replaced in 2021.
The property is located at 614 N 6th St in Sheboygan, directly across from the Sheboygan Courthouse. Ten parking stalls are positioned behind the building. Exterior vinyl siding was installed in 2013, and the roof was replaced in 2021.
Key Highlights
- 2,352 SF office building constructed in 1911
- Two floors with 9 total offices
- Reception area and waiting room included
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
$25,629
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
7.32%
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%
$512,580
$512.6K
Cap Rate 7%
$366,129
$366.1K
Cap Rate 9%
$284,767
$284.8K
Market Conditions
NOI Build-Up for 2,352 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
$40.9K $17.40/SF
− Vacancy
−$6.8K −$2.87/SF
EGI
$34.2K $14.53/SF
− OpEx
−$8.5K −$3.63/SF
NOI
$25.6K $10.90/SF
Area
Sheboygan County, WI
Vacancy
16.50%
Lease Rate
$17.40 /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%
$512,580
Cap Rate 7%
$366,129
Cap Rate 9%
$284,767
Alternative Uses
Best Use
Office B
$366.1K
$320.4K – $427.2K
NOI $25,629 @ 7.0% cap · market cap 7.32%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$512.6K
$448.5K – $598.0K
NOI $35,882 @ 7.0% cap · market cap 10.25%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,575
Businesses Nearby
Explore this area
Business Placement
Demographics for 53081, WI
43,465
Population
20,121
Households
2.2
Avg Household Size
38
Median Age
22%
College-Educated
90%
High-School Grad
23.3 sq mi
ZIP Area
1,865
Density / Sq Mi
$62,401
Median Household Income
$42,329
Median Earnings
$866
Median Rent
$169,700
Median Home Value
Market
Vacancy Rate% for Office in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Office building - Professional office layout with reception, waiting, workrooms, break areas, and rear parking.
Where is this office building located?
The property is located at 614 N 6th St Sheboygan, WI.
What is the asking price?
The asking price for this property is $349,900.
What are key features of this property?
This property features: 2,352 SF office building constructed in 1911; Two floors with 9 total offices; Reception area and waiting room included
