Flex Space Business
For Sale
$370,000
736 Maritime Dr, Port Washington, WI 53074
Individually owned flex space business condo units with approximately 2,250 to 5,500 sq ft for workshops, storage, and more.
Property Size4,000 SF
Price / SF$92.50
Days on Market43
Property Features for 736 Maritime Dr
General Information
Standard status
Active
Size
4,000 SF
Building Details
Year Built
2024
Listing Agency:
RE/MAX United - Cedarburg
Listed By:
Tracy Pitchford
(262) 994-1370
Source:
Nikolicgroup
Added: Jul 29
Changed: Sep 8
Last Checked: Sep 7 at 11:16AM
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.
Flex space business condominiums at Billy Goat Business District, offered as individually owned units with flexible interior space ranging from approximately 2,250 to 5,500 sq. ft. Unit space can support a wide range of business and personal uses, including offices, workshops, equipment storage, inventory, and space for RVs, boats, and hobby or personal projects. The available property size is listed as 4,000.
The property is located at 736 Maritime Dr in Port Washington, Wisconsin, in a thriving harbor community. Billy Goat Business District is positioned as a destination designed to support business operations with ownership structure and flexible space options.
The property is located at 736 Maritime Dr in Port Washington, Wisconsin, in a thriving harbor community. Billy Goat Business District is positioned as a destination designed to support business operations with ownership structure and flexible space options.
Key Highlights
- Individually owned flex space business condo units
- Approximately 2,250 to 5,500 sq ft flexible space per unit
- Business uses include offices, workshops, and equipment storage
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
$17,668
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
4.78%
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%
$353,360
$353.4K
Cap Rate 7%
$252,400
$252.4K
Cap Rate 9%
$196,311
$196.3K
Market Conditions
NOI Build-Up for 4,000 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
$21.9K $5.47/SF
− Vacancy
−$1.1K −$0.27/SF
EGI
$20.8K $5.20/SF
− OpEx
−$3.1K −$0.78/SF
NOI
$17.7K $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%
$353,360
Cap Rate 7%
$252,400
Cap Rate 9%
$196,311
Alternative Uses
Best Use
Warehouse
$252.4K
$220.9K – $294.5K
NOI $17,668 @ 7.0% cap · market cap 4.78%
Second Best
Industrial
$208.1K
$182.1K – $242.8K
NOI $14,566 @ 7.0% cap · market cap 3.94%
Theoretical Best
Office A
$942.4K
$824.6K – $1.10M
NOI $65,971 @ 7.0% cap · market cap 17.83%
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 flex space business condo units with approximately 2,250 to 5,500 sq ft for workshops, storage, and more.
Where is this flex space located?
The property is located at 736 Maritime Dr Port Washington, WI.
What is the asking price?
The asking price for this property is $370,000.
What are key features of this property?
This property features: Individually owned flex space business condo units; Approximately 2,250 to 5,500 sq ft flexible space per unit; Business uses include offices, workshops, and equipment storage
