Gas Station Convenience Store
For Sale
$1,100,000
721 Fremont St, Kiel, WI 53042
Turn-key gas station and convenience store in Kiel, Wisconsin.
Property Size5,880 SF
Lot Size1.20 Acres
Price / SF$187.07
Days on Market291
Property Features for 721 Fremont St
General Information
Standard status
Active
Size
5,880 SF
Lot size
1.20 Acres
Taxes and HOA fees
Annual Taxes
$5,127
Listing Agency:
Century 21 Aspire Group
(920) 663-1200
Listed By:
Brad Broecker · License #5888990
(920) 374-1282
Source:
Exprealty
Added: Nov 4, 2025
Changed: Aug 20
Last Checked: Aug 21 at 11:00AM
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 Century 21 Aspire Group
Investment Insights
Based on property information with market context.
This gas station and convenience store is located in the city of Kiel, less than 2 miles from State Hwy 67. The property includes a 5,880 square foot convenience store with hot food and pizza service areas, a coffee bar with a sitting area, and public restrooms. It also offers additional local services. Fuel options include regular, midgrade, and premium, dispensed from two double pumps. A 34x45 gas canopy was added in 2023. The property features a large blacktop corner lot and an outbuilding for additional storage, along with a large lot for potential expansion. This is a turn-key operation with all equipment necessary to continue the business. The oil agreement is fully transferable.
Key Highlights
- Turnkey gas station and convenience store operation with all necessary equipment included.
- Large 5880 sq. ft. convenience store** with hot food, pizza service areas, and coffee bar.
- Transferable oil agreement in place.
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
$90,202
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
8.20%
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%
$1,804,040
$1.8M
Cap Rate 7%
$1,288,600
$1.3M
Cap Rate 9%
$1,002,244
$1.0M
Market Conditions
NOI Build-Up for 5,880 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
$123.5K $21.00/SF
− Vacancy
−$3.2K −$0.55/SF
EGI
$120.3K $20.45/SF
− OpEx
−$30.1K −$5.11/SF
NOI
$90.2K $15.34/SF
Area
Manitowoc County, WI
Vacancy
2.60%
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%
$1,804,040
Cap Rate 7%
$1,288,600
Cap Rate 9%
$1,002,244
Alternative Uses
Best Use
Specialty Retail
$1.29M
$1.13M – $1.50M
NOI $90,202 @ 7.0% cap · market cap 8.20%
Second Best
Retail
$1.09M
$950.1K – $1.27M
NOI $76,010 @ 7.0% cap · market cap 6.91%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
227
Businesses Nearby
3k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 100%
BP
Shops & Services
3,098 visits/mo
0.4 miles
Demographics for 53042, WI
6,886
Population
3,034
Households
2.3
Avg Household Size
45
Median Age
19%
College-Educated
91%
High-School Grad
62.0 sq mi
ZIP Area
111
Density / Sq Mi
$86,118
Median Household Income
$52,964
Median Earnings
$824
Median Rent
$223,100
Median Home Value
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Gas station - Turn-key gas station and convenience store in Kiel, Wisconsin.
Where is this gas station located?
The property is located at 721 Fremont St Kiel, WI.
What is the asking price?
The asking price for this property is $1,100,000.
What are key features of this property?
This property features: Turnkey gas station and convenience store operation with all necessary equipment included.; Large 5880 sq. ft. convenience store** with hot food, pizza service areas, and coffee bar.; Transferable oil agreement in place.
