Multi-Tenant Medical Property For
For Sale
Contact for pricing
7950 N Port Washington Rd, Fox Point, WI 53217
Fully leased medical property with stable, predictable cash flow.
Property Size15,601 SF
Price / SF$287.87
Days on Market179
Property Features for 7950 N Port Washington Rd
General Information
Standard status
Active
Size
15,601 SF
Class
B
Property subtype
Office
Occupancy
100%
Lease Type
NN
Investment Type
Stabilized
Net Operating Income
$323,361
Building Details
Year Built
1970
Year Renovated
2017
Buildings
1
Stories
1
Tenancy
Multi
Listing Agency:
Marcus & Millichap - Chicago Downtown
(312) 787-0666
Listed By:
Frank Roti · License #IL 475.139806
Source:
Crexi
Added: Feb 23
Changed: Aug 21
Last Checked: Aug 19 at 10:44PM
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 Marcus & Millichap - Chicago Downtown
Investment Insights
Based on property information with market context.
The property at 7950 N. Port Washington Road in Fox Point, Wisconsin, is a multi-tenant medical property. The property is fully leased to Children’s Wisconsin and Park Pet Hospital under net lease structures. The weighted average lease term is 6 years. Children’s Wisconsin occupies 11,096 square feet, representing 71% of the total rentable area. The tenant recently executed an early lease extension, extending the remaining lease term to 6.6 years. The lease features 2.0% annual rent increases commencing October 1, 2027, along with two five-year renewal options. Children’s Wisconsin maintains an Aa3 credit rating from Moody’s and reported $1.5 billion in operating revenues for fiscal year 2023. The organization operates more than 40 care locations, including two hospitals, and employs over 5,000 professionals, among them more than 750 pediatric specialists. Park Pet Hospital occupies 4,505 square feet, accounting for 29% of the property, with 4.5 years remaining on its lease term. The lease includes 2.5% annual rent escalations and two five-year renewal options and is guaranteed by Blue River PetCare Group. Blue River PetCare is a nationally recognized veterinary services platform with a portfolio of more than 100 hospitals across the United States. Established in 1957, Park Pet Hospital offers comprehensive veterinary services, including wellness care, medical treatment, surgical procedures, and dental services. The property size is 15601 square feet.
Key Highlights
- Fully leased to Children’s Wisconsin and Park Pet Hospital, providing stable cash flow.
- Anchor tenant, Children’s Wisconsin, boasts an Aa3 credit rating from Moody’s and $1.5 billion in operating revenues.**
- Weighted average lease term (WALT) of 6 years.
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
$215,247
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
4.79%
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%
$4,304,940
$4.3M
Cap Rate 7%
$3,074,957
$3.1M
Cap Rate 9%
$2,391,633
$2.4M
Market Conditions
NOI Build-Up for 15,601 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
$410.0K $26.28/SF
− Vacancy
−$51.2K −$3.29/SF
EGI
$358.7K $23.00/SF
− OpEx
−$143.5K −$9.20/SF
NOI
$215.2K $13.80/SF
Area
Milwaukee County, WI
Vacancy
12.50%
Lease Rate
$26.28 /SF/Yr
Expense Ratio
40.00%
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%
$4,304,940
Cap Rate 7%
$3,074,957
Cap Rate 9%
$2,391,633
Alternative Uses
Best Use
Healthcare Medical
$3.07M
$2.69M – $3.59M
NOI $215,247 @ 7.0% cap · market cap 4.79%
Second Best
Office B
$3.05M
$2.67M – $3.56M
NOI $213,335 @ 7.0% cap · market cap 4.75%
Theoretical Best
Office A
$3.70M
$3.24M – $4.32M
NOI $258,970 @ 7.0% cap · market cap 5.77%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
212
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 53217, WI
30,559
Population
12,301
Households
2.5
Avg Household Size
42
Median Age
73%
College-Educated
97%
High-School Grad
14.1 sq mi
ZIP Area
2,167
Density / Sq Mi
$132,044
Median Household Income
$70,301
Median Earnings
$1,519
Median Rent
$426,100
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.
Similar Off Market Nearby
- Park Pet Hospital — 7950 N Port Washington Rd, Fox Point, WI 53217
- Park Pet Hospital: Poehlman Cathy DVM — 7950 N Port Washington Rd, Fox Point, WI 53217
Frequently Asked Questions
What type of property is this?
Medical Office Space - Fully leased medical property with stable, predictable cash flow.
Where is this medical office space located?
The property is located at 7950 N Port Washington Rd Fox Point, WI.
What is the asking price?
The asking price for this property is $4,491,125.
What are key features of this property?
This property features: Fully leased to Children’s Wisconsin and Park Pet Hospital, providing stable cash flow.; Anchor tenant, Children’s Wisconsin, boasts an Aa3 credit rating from Moody’s and $1.5 billion in operating revenues.**; Weighted average lease term (WALT) of 6 years.
