Medical Office Space with Exam
For Sale
$449,900
7137 236th Ave, Salem, WI 53168
Configured for medical operations with private offices, reception, patient waiting, kitchen, bathrooms, and on-site parking.
Property Size3,143 SF
Price / SF$145.13
Days on Market95
Property Features for 7137 236th Ave
General Information
Standard status
Active
Size
3,143 SF
Total Parking Spaces
205
Property subtype
Commercial
Zoning
B-1
Taxes and HOA fees
Annual Taxes
$4,461
Building Details
Building Size
3,143 SF
Year Built
2007
Tenancy
Single
Listing Agency:
Epique Realty
(262) 392-8174
Listed By:
Michelle Frederick · License #5695990
(262) 392-8174
Source:
Therealtycompanyllc
Added: May 6
Changed: Aug 8
Last Checked: Aug 8 at 3:55AM
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 Epique Realty
Investment Insights
Based on property information with market context.
This medical office property offers over 3,100 sq ft of organized workspace within a building constructed in 2007. The layout includes 2 private offices, a reception area, a waiting room, breakroom and kitchen, 8 exam rooms, 3 bathrooms, and additional rooms presently used for lab and billing functions. The property is currently operating as a doctor's office and can support medical, professional, or general office use.
Located in the Paddock Lake area of Salem Lakes, the property has parking for staff and clients and is positioned along 236th Ave. B-1 zoning is in place, providing an established commercial setting for the existing office configuration.
Located in the Paddock Lake area of Salem Lakes, the property has parking for staff and clients and is positioned along 236th Ave. B-1 zoning is in place, providing an established commercial setting for the existing office configuration.
Key Highlights
- Over 3,100 sq ft of medical office space
- 8 exam rooms plus 2 private offices
- Reception area and spacious waiting room
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
$39,011
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
8.67%
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%
$780,220
$780.2K
Cap Rate 7%
$557,300
$557.3K
Cap Rate 9%
$433,456
$433.5K
Market Conditions
NOI Build-Up for 3,100 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
$65.1K $21.00/SF
− Vacancy
−$13.1K −$4.22/SF
EGI
$52.0K $16.78/SF
− OpEx
−$13.0K −$4.19/SF
NOI
$39.0K $12.58/SF
Area
Kenosha County, WI
Vacancy
20.10%
Lease Rate
$21.00 /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%
$780,220
Cap Rate 7%
$557,300
Cap Rate 9%
$433,456
Alternative Uses
Best Use
Office B
$557.3K
$487.6K – $650.2K
NOI $39,011 @ 7.0% cap · market cap 8.67%
Second Best
Healthcare Medical
$535.0K
$468.1K – $624.2K
NOI $37,451 @ 7.0% cap · market cap 8.32%
Theoretical Best
Warehouse
$3.61M
$3.16M – $4.21M
NOI $252,637 @ 7.0% cap · market cap 56.15%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Single-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
54
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 53168, WI
8,687
Population
4,072
Households
2.1
Avg Household Size
42
Median Age
30%
College-Educated
92%
High-School Grad
32.5 sq mi
ZIP Area
267
Density / Sq Mi
$104,712
Median Household Income
$56,262
Median Earnings
$1,268
Median Rent
$289,500
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?
Medical Office Space - Configured for medical operations with private offices, reception, patient waiting, kitchen, bathrooms, and on-site parking.
Where is this medical office space located?
The property is located at 7137 236th Ave Salem, WI.
What is the asking price?
The asking price for this property is $449,900.
What are key features of this property?
This property features: Over 3,100 sq ft of medical office space; 8 exam rooms plus 2 private offices; Reception area and spacious waiting room
