Remodeled Auto Repair
For Sale
$399,900
702 W Grand Ave, Port Washington, WI 53074
Remodeled building operated as an auto repair shop with multiple overhead doors and updated shop systems.
Property Size5,000 SF
Price / SF$79.98
Days on Market65
Property Features for 702 W Grand Ave
General Information
Standard status
Active
Size
5,000 SF
Additional Details
Heavy Power
Yes
Service Bays
2
Taxes and HOA fees
Annual Taxes
$4,181
Building Details
Year Renovated
2020
Listing Agency:
Berkshire Hathaway HomeServices Metro Realty
(262) 439-8897
Listed By:
Barbara Beattie · License #5659590
(262) 483-4784
Source:
Exprealty
Added: Jul 11
Changed: Aug 21
Last Checked: Sep 13 at 12:18PM
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 Berkshire Hathaway HomeServices Metro Realty
Investment Insights
Based on property information with market context.
This completely remodeled commercial building was updated in 2020 and is currently operating as a fully equipped auto repair shop. The improvements and shop setup include two newer lifts, a special alignment rack and machine, a tire mounting machine and balance, along with updated heating and air conditioning. Interior amenities include a refreshed employee break room, office, and customer waiting room, and the building has a newer mechanical exhaust ventilation system.
The property also features three newer overhead doors and 3-phase electrical service, plus a newer handicapped bathroom. Freshly painted interior and exterior finishes round out the recent work.
With the current configuration supporting automotive service operations, the building also offers flexibility for another business concept that can make use of the existing shop improvements and loading access.
The property also features three newer overhead doors and 3-phase electrical service, plus a newer handicapped bathroom. Freshly painted interior and exterior finishes round out the recent work.
With the current configuration supporting automotive service operations, the building also offers flexibility for another business concept that can make use of the existing shop improvements and loading access.
Key Highlights
- Commercial building completely remodeled in 2020 and currently operating as an auto repair shop
- Equipped with 2 newer lifts plus a special alignment rack and machine
- Tire mounting and balance equipment included for the auto repair operation
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
$18,207
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
4.55%
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%
$364,140
$364.1K
Cap Rate 7%
$260,100
$260.1K
Cap Rate 9%
$202,300
$202.3K
Market Conditions
NOI Build-Up for 5,000 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
$27.4K $5.47/SF
− Vacancy
−$1.3K −$0.27/SF
EGI
$26.0K $5.20/SF
− OpEx
−$7.8K −$1.56/SF
NOI
$18.2K $3.64/SF
Area
Ozaukee County, WI
Vacancy
4.90%
Lease Rate
$5.47 /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%
$364,140
Cap Rate 7%
$260,100
Cap Rate 9%
$202,300
Alternative Uses
Best Use
Retail
$923.4K
$807.9K – $1.08M
NOI $64,635 @ 7.0% cap · market cap 16.16%
Second Best
Industrial
$260.1K
$227.6K – $303.5K
NOI $18,207 @ 7.0% cap · market cap 4.55%
Theoretical Best
Office A
$1.18M
$1.03M – $1.37M
NOI $82,464 @ 7.0% cap · market cap 20.62%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Service bays
Yes
Heavy power
Location Intelligence
Trade Area within ½ mile
226
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 53074, WI
13,379
Population
5,859
Households
2.3
Avg Household Size
42
Median Age
36%
College-Educated
96%
High-School Grad
30.3 sq mi
ZIP Area
442
Density / Sq Mi
$78,944
Median Household Income
$48,089
Median Earnings
$1,024
Median Rent
$276,200
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 Retail in Midwest region
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- Lindems Automotive Golden Club — 702 w grand ave, port washington, wi 53074
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Frequently Asked Questions
What type of property is this?
Auto shop - Remodeled building operated as an auto repair shop with multiple overhead doors and updated shop systems.
Where is this auto shop located?
The property is located at 702 W Grand Ave Port Washington, WI.
What is the asking price?
The asking price for this property is $399,900.
What are key features of this property?
This property features: Commercial building completely remodeled in 2020 and currently operating as an auto repair shop; Equipped with 2 newer lifts plus a special alignment rack and machine; Tire mounting and balance equipment included for the auto repair operation
