Flex Business
For Sale
$285,000
716 Maritime Dr, Port Washington, WI 53074
Individually owned commercial space supports office, workshop, storage, inventory, and other business-related uses.
Property Size3,250 SF
Price / SF$87.69
Days on Market47
Property Features for 716 Maritime Dr
General Information
Standard status
Active
Size
3,250 SF
Property subtype
Commercial
Building Details
Year Built
2025
Listing Agency:
RE/MAX United - Cedarburg
(262) 994-1370
Listed By:
Tracy Pitchford
Source:
Viewhomesinwisconsin
Added: Jul 15
Changed: Aug 29
Last Checked: Aug 29 at 10:49PM
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 RE/MAX United - Cedarburg
Investment Insights
Based on property information with market context.
This 2025 flex business condominium is part of Billy Goat Business District in Port Washington. The individually owned spaces are designed to accommodate a range of business functions, including offices, workshops, equipment storage, inventory, RVs, boats, hobby space, and personal projects.
Available configurations range from approximately 2,250 to 5,500 square feet, providing options for contractors, tradespeople, manufacturers, service businesses, entrepreneurs, and investors. The property is located at 716 Maritime Dr in Port Washington, Wisconsin, within the harbor community.
Available configurations range from approximately 2,250 to 5,500 square feet, providing options for contractors, tradespeople, manufacturers, service businesses, entrepreneurs, and investors. The property is located at 716 Maritime Dr in Port Washington, Wisconsin, within the harbor community.
Key Highlights
- 2025 construction
- Individually owned business condominiums
- Space configurations from approximately 2,250 to 5,500 sq. ft.
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
$14,355
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
5.04%
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%
$287,100
$287.1K
Cap Rate 7%
$205,071
$205.1K
Cap Rate 9%
$159,500
$159.5K
Market Conditions
NOI Build-Up for 3,250 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
$17.8K $5.47/SF
− Vacancy
−$889 −$0.27/SF
EGI
$16.9K $5.20/SF
− OpEx
−$2.5K −$0.78/SF
NOI
$14.4K $4.42/SF
Area
Ozaukee County, WI
Vacancy
5.00%
Lease Rate
$5.47 /SF/Yr
Expense Ratio
15.00%
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%
$287,100
Cap Rate 7%
$205,071
Cap Rate 9%
$159,500
Alternative Uses
Best Use
Warehouse
$205.1K
$179.4K – $239.3K
NOI $14,355 @ 7.0% cap · market cap 5.04%
Second Best
Industrial
$169.1K
$147.9K – $197.2K
NOI $11,834 @ 7.0% cap · market cap 4.15%
Theoretical Best
Office A
$765.7K
$670.0K – $893.4K
NOI $53,602 @ 7.0% cap · market cap 18.81%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
21
Businesses Nearby
Well-served
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
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 - Individually owned commercial space supports office, workshop, storage, inventory, and other business-related uses.
Where is this flex space located?
The property is located at 716 Maritime Dr Port Washington, WI.
What is the asking price?
The asking price for this property is $285,000.
What are key features of this property?
This property features: 2025 construction; Individually owned business condominiums; Space configurations from approximately 2,250 to 5,500 sq. ft.
