New Flex Business
For Sale
$438,000
717 Maritime Dr, Port Washington, WI 53074
Individually owned industrial condominium with adaptable office, workshop, storage, and business-use space.
Property Size5,500 SF
Days on Market18
Property Features for 717 Maritime Dr
General Information
Standard status
Active
Size
5,500 SF
Total Parking Spaces
3
Property subtype
Commercial
Zoning
Industrial
Taxes and HOA fees
Annual Taxes
$272
Building Details
Building Size
5,500 SF
Year Built
2025
Listing Agency:
RE/MAX United - Cedarburg
(262) 339-1525
Listed By:
Stephanie Long
(262) 339-1525
Source:
Therealtycompanyllc
Added: Jul 24
Changed: Aug 9
Last Checked: Aug 9 at 1:08PM
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.
Built in 2025, this flex business condominium is part of an individually owned commercial development in Port Washington. Available spaces range from approximately 2,250 to 5,500 square feet, providing room for office functions, workshops, equipment storage, inventory, or other business activities identified for the property.
The property is zoned Industrial and can accommodate a broad range of stated uses, including contractor and tradesperson operations, manufacturing, service businesses, RV or boat storage, hobby space, and personal projects. The location at 717 Maritime Dr places the property within Port Washington’s harbor community.
The property is zoned Industrial and can accommodate a broad range of stated uses, including contractor and tradesperson operations, manufacturing, service businesses, RV or boat storage, hobby space, and personal projects. The location at 717 Maritime Dr places the property within Port Washington’s harbor community.
Key Highlights
- Flex business condominium spaces range from approximately 2,250 to 5,500 sq. ft.
- Built in 2025
- Individually owned commercial business condominium
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
$24,294
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
5.55%
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%
$485,880
$485.9K
Cap Rate 7%
$347,057
$347.1K
Cap Rate 9%
$269,933
$269.9K
Market Conditions
NOI Build-Up for 5,500 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
$30.1K $5.47/SF
− Vacancy
−$1.5K −$0.27/SF
EGI
$28.6K $5.20/SF
− OpEx
−$4.3K −$0.78/SF
NOI
$24.3K $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%
$485,880
Cap Rate 7%
$347,057
Cap Rate 9%
$269,933
Alternative Uses
Best Use
Office B
$997.9K
$873.2K – $1.16M
NOI $69,852 @ 7.0% cap · market cap 15.95%
Second Best
Warehouse
$347.1K
$303.7K – $404.9K
NOI $24,294 @ 7.0% cap · market cap 5.55%
Theoretical Best
Office A
$1.30M
$1.13M – $1.51M
NOI $90,710 @ 7.0% cap · market cap 20.71%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
126
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
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?
Flex space - Individually owned industrial condominium with adaptable office, workshop, storage, and business-use space.
Where is this flex space located?
The property is located at 717 Maritime Dr Port Washington, WI.
What is the asking price?
The asking price for this property is $438,000.
What are key features of this property?
This property features: Flex business condominium spaces range from approximately 2,250 to 5,500 sq. ft.; Built in 2025; Individually owned commercial business condominium
