118 3Rd St Ashland, WI 54806
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Class A Office, High NOI, Lake Superior Views
Property size:
14,400 SFProperty Features for 118 3Rd St
General Information
- Property type
- Office Units
- Square Feet
- 14,400 SF
- Class
- A
- Lot Size
- 60,984 SF
Building Details
- Year Built/Renovated
- 2000/2019
- Buildings
- 1
- Stories
- 1
- Units
- 1
Listing Agency: Porter Realty LLC Listing Agent: Kevin Porter
Displayed information is deemed reliable but is not guaranteed and should be independently verified.
Overview
This exceptional Class A office building, located at 118 3rd St E in Ashland, WI, presents a compelling investment opportunity. Boasting 14,400 square feet of net rentable space in a single, 100% occupied unit, the property offers a strong NOI of $150,792 and a compelling 12.58% cap rate. Built in 2000 and extensively renovated in 2019, the building features 86 parking spaces, key card access, a standby generator, and full handicap accessibility. The interior comprises over 6,000 square feet of flexible open space, 12 private offices, two conference rooms, two server rooms, two mechanical rooms, a mother's room, a lounge, and two phone rooms. Situated on a 1.4-acre lot on a highly trafficked state highway, this property benefits from its proximity to Lake Superior and the Ashland marina, enjoying over 6,000 average daily vehicle counts. The current lease is a NNN, single-tenant agreement expiring December 31, 2024. Modern amenities include fiber optic internet and upgraded electrical systems. The asking price is $1,199,000, reflecting a price per square foot of $83.26. This is a rare opportunity to acquire a high-quality, well-maintained office building in a desirable location with significant upside potential.
Property Profile
Insight Report
Location Intelligence
Current Use by Public Records
Office Units
Location Insight
- Map
- Local Demand
- City
- Ashland
- County
- Ashland
- State
- Wisconsin
- Longitude
- -90.8814485
- Latitude
- 46.5906456
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FAQs
What type of property is this?
Office units - Class A Office, High NOI, Lake Superior Views
Where is this office units located?
The property is located at 118 3Rd St Ashland, WI.
What is the asking price?
The asking price for this property is $1,199,000.
What are key features of this property?
This property features: Class A office building, 14,400 square feet, 100% occupied.; Strong NOI of $150,792 and 12.58% cap rate.; Located at 118 3rd St E, Ashland, WI, on a 1.4-acre lot with high traffic counts.
