Multi-Suite Office
For Sale
$340,000
718 Bay St, Chippewa Falls, WI
Flexible office layout with original woodwork, updated windows, a metal roof, and a kitchen/break area.
Property Size2,410 SF
Price / SF$141.08
Days on Market13
Property Features for 718 Bay St
General Information
Standard status
Active
Size
2,410 SF
Additional Details
Sprinkler System
Yes
Office Units
6
Taxes and HOA fees
Annual Taxes
$4,278
Amenities
original hardwood floors
built-in cabinetry
architectural woodwork
updated kitchen/break area
park-like setting with mature landscaping
Building Details
Year Built
1890
Buildings
1
Listing Agency:
Julie Brown Real Estate Group
(715) 579-2746
Listed By:
Julie Brown · License #6052690
(715) 579-2746
Source:
Exprealty
Added: Aug 7
Changed: Aug 18
Last Checked: Aug 19 at 1:25PM
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 Julie Brown Real Estate Group
Investment Insights
Based on property information with market context.
Built in 1890, this 2,410-square-foot office building provides up to 6 separate office spaces within a character-rich layout. Original hardwood flooring, built-in cabinetry, and architectural wood detailing remain throughout the interior. A remodeled kitchen and break area, 2 half baths, updated windows, and a new metal roof add practical functionality to the property.
The building occupies a park-like setting with mature landscaping and an in-ground sprinkler system. Its location at 718 Bay St places it in Chippewa Falls, just one block from downtown. The configuration supports office occupancy and may also accommodate a future residential conversion, including the possibility of upgrading one half bath and adding a lower-level laundry hookup.
The building occupies a park-like setting with mature landscaping and an in-ground sprinkler system. Its location at 718 Bay St places it in Chippewa Falls, just one block from downtown. The configuration supports office occupancy and may also accommodate a future residential conversion, including the possibility of upgrading one half bath and adding a lower-level laundry hookup.
Key Highlights
- 2,410‑square‑foot office building constructed in 1890
- Up to 6 separate office spaces
- New metal roof and new windows
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
$24,088
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
7.08%
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%
$481,760
$481.8K
Cap Rate 7%
$344,114
$344.1K
Cap Rate 9%
$267,644
$267.6K
Market Conditions
NOI Build-Up for 2,410 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
$38.5K $15.96/SF
− Vacancy
−$6.3K −$2.63/SF
EGI
$32.1K $13.33/SF
− OpEx
−$8.0K −$3.33/SF
NOI
$24.1K $9.99/SF
Area
Chippewa County, WI
Vacancy
16.50%
Lease Rate
$15.96 /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%
$481,760
Cap Rate 7%
$344,114
Cap Rate 9%
$267,644
Alternative Uses
Best Use
Office B
$344.1K
$301.1K – $401.5K
NOI $24,088 @ 7.0% cap · market cap 7.08%
Second Best
—
—
no second resolved use
Theoretical Best
Warehouse
$1.34M
$1.17M – $1.56M
NOI $93,657 @ 7.0% cap · market cap 27.55%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
6
Office units
Yes
Sprinkler system
Location Intelligence
Trade Area within ½ mile
737
Businesses Nearby
Explore this area
Business Placement
Market
Vacancy Rate% for Office in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - Flexible office layout with original woodwork, updated windows, a metal roof, and a kitchen/break area.
Where is this office building located?
The property is located at 718 Bay St Chippewa Falls, WI.
What is the asking price?
The asking price for this property is $340,000.
What are key features of this property?
This property features: 2,410‑square‑foot office building constructed in 1890; Up to 6 separate office spaces; New metal roof and new windows
