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    248 Washington Ave Cedarburg, WI 53012

    Sponsored
    For Lease
    $12 SF/Yr ($12,740 /Mo)

    Multiple suites, 442-3,345 sq ft

    Lot size:
    12,740 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    421
    This exceptional Cedarburg, Wisconsin office property, located at 248 Washington Ave, offers a diverse range of spaces ideal for businesses of all sizes. The building, constructed in 1973, boasts a total of 12,740 square feet situated on a generous 1.82-acre lot in Ozaukee County. The property is classified as a traditional office building and also offers executive office suites, providing flexibility for various business needs. Multiple tenancies are available, with individual suites ranging from a minimum of 442 square feet to a maximum contiguous space of 3,345 square feet. This presents an excellent opportunity for businesses seeking a variety of options to accommodate their specific space requirements. The property's location in Cedarburg, Wisconsin, offers easy access to local amenities and transportation networks, making it a highly desirable location for businesses seeking a convenient and productive work environment. The address is conveniently located in the 53012 zip code. This is a rare opportunity to secure office space in a well-established building with ample space and a desirable location. Contact us today to learn more about the available suites and to schedule a viewing.

    Property Features for 248 Washington Ave

    General Information

    Property type
    Office Properties & Spaces
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    12,740 SF
    Total Rate
    12740

    Building Details

    Year Built
    1973

    Spaces For Lease

    at 248 Washington Ave, Cedarburg, WI 53012 Contact us
    Unit Suite B9

    $108 /Mo

    Size
    442 SF
    Contact us
    Unit Suite # B201-B202

    $14 /Mo

    Size
    1,068 SF
    Contact us
    Unit Suite # A202

    $14 /Mo

    Size
    825 SF
    Contact us
    Unit Suite #A20

    $108 /Mo

    Size
    776 SF
    Contact us
    Unit Suite # B205

    $12 /Mo

    Size
    803 SF
    Contact us
    Unit Suite #A201

    $12 /Mo

    Size
    749 SF
    Contact us
    Unit Suite # B103

    $14 /Mo

    Size
    2,220 SF
    Contact us
    Unit Suite # B105

    $14 /Mo

    Size
    1,318 SF
    Contact us
    Unit Suite # B101, B102 & B104

    $14 /Mo

    Size
    3,345 SF
    Contact us
    Show more

    We can help!

    Listing Contact
    Michael Testa, Ccim
    Michael Testa, Ccim

    Learn more

    HighLights

    • 12,740 SF office building on a 1.82‑acre lot in Cedarburg, WI (53012).
    • Traditional office building with executive suites.
    • Multiple tenancies available, ranging from 442 SF to 3,345 SF contiguous.
    • Excellent location with easy access to amenities and transportation.
    • Built in 1973.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Law Firm Restaurant Real Estate Agency Spa & Massage Center Dental Office Food Market Grocery & Convenience Store Skin Care Clinic Daycare Center Gym & Fitness Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Cedarburg
    County
    Ozaukee
    State
    Wisconsin
    Longitude
    -87.9865153
    Latitude
    43.2844937

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    FAQs

    What type of property is this?
    Office Property / Space - Multiple suites, 442-3,345 sq ft
    Where is this office property / space located?
    The property is located at 248 Washington Ave Cedarburg, WI.
    What is the lease rate?
    The lease rate is $12-$108 SF/Yr.
    What are key features of this property?
    This property features: 12,740 SF office building on a 1.82-acre lot in Cedarburg, WI (53012).; Traditional office building with executive suites.; Multiple tenancies available, ranging from 442 SF to 3,345 SF contiguous.
    Request Owner's contact information
    248 Washington Ave Cedarburg, WI 53012
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    Cedarburg, WI 53012
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    248 Washington Ave Cedarburg, WI 53012
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    We can help!
    Listing Contact
    Michael Testa, Ccim
    Michael Testa, Ccim
    Real Estate License ID: 8559994
    Learn more
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