Neenah Automotive Shop For
For Sale
Contact for pricing
Pending
994 Main St, Neenah, WI 54956
Two parcels totaling over a half acre in thriving downtown.
Property Size7,532 SF
Lot Size0.50 Acres
Days on Market758
Property Features for 994 Main St
General Information
Standard status
Pending
Size
7,532 SF
Class
C
Lot size
0.50 Acres
Property subtype
Industrial
Zoning
Commercial
Investment Type
Owner/User
Building Details
Year Built
1959
Buildings
1
Stories
1
Units
1
Tenancy
Single
Listing Agency:
Drifka Group
(920) 659-0052
Listed By:
Tim Ceman · License #111378 - 94
Source:
Crexi
Added: Jul 25, 2024
Changed: Aug 11
Last Checked: Aug 21 at 8:37AM
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 Drifka Group
Investment Insights
Based on property information with market context.
This property, situated on two parcels totaling over a half acre, is currently the location of Neenah Main Auto Body. Located in Neenah’s thriving downtown district, the property offers high visibility. It can continue to be operated as an automotive shop, or adapted for many other uses. The building has a size of 7,532 square feet. The business may be purchased separately.
Key Highlights
- High visibility location in Neenah's thriving downtown district.
- Property occupies two parcels totaling over a half acre.
- Suitable for continued operation as an automotive shop.
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
$37,288
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
7.53%
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%
$745,760
$745.8K
Cap Rate 7%
$532,686
$532.7K
Cap Rate 9%
$414,311
$414.3K
Market Conditions
NOI Build-Up for 7,532 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
$58.7K $7.80/SF
− Vacancy
−$5.5K −$0.73/SF
EGI
$53.3K $7.07/SF
− OpEx
−$16.0K −$2.12/SF
NOI
$37.3K $4.95/SF
Area
Winnebago County, WI
Vacancy
9.33%
Lease Rate
$7.80 /SF/Yr
Expense Ratio
30.00%
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%
$745,760
Cap Rate 7%
$532,686
Cap Rate 9%
$414,311
Alternative Uses
Best Use
Retail
$1.03M
$904.6K – $1.21M
NOI $72,364 @ 7.0% cap · market cap 14.62%
Second Best
Industrial
$532.7K
$466.1K – $621.5K
NOI $37,288 @ 7.0% cap · market cap 7.53%
Theoretical Best
Office A
$1.63M
$1.42M – $1.90M
NOI $113,797 @ 7.0% cap · market cap 22.99%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
273
Businesses Nearby
4k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 100%
BP
Shops & Services
3,024 visits/mo
0.1 miles
Enterprise Rent-A-Car
Shops & Services
968 visits/mo
0.2 miles
Napa Auto Parts
Shops & Services
507 visits/mo
0.4 miles
Demographics for 54956, WI
46,316
Population
20,104
Households
2.3
Avg Household Size
40
Median Age
38%
College-Educated
96%
High-School Grad
61.7 sq mi
ZIP Area
751
Density / Sq Mi
$81,386
Median Household Income
$49,445
Median Earnings
$1,005
Median Rent
$238,200
Median Home Value
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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Frequently Asked Questions
What type of property is this?
Auto shop - Two parcels totaling over a half acre in thriving downtown.
Where is this auto shop located?
The property is located at 994 Main St Neenah, WI.
What is the asking price?
The asking price for this property is $495,000.
What are key features of this property?
This property features: High visibility location in Neenah's thriving downtown district.; Property occupies two parcels totaling over a half acre.; Suitable for continued operation as an automotive shop.
