Strip Center with Office
For Sale
Contact for pricing
940 Hansen Road, Green Bay, WI 54304
Multi-tenant commercial property with leases averaging 3–5 years and a tenant mix serving the Ashwaubenon market.
Property Size23,843 SF
Price / SF$178.25
Days on Market98
Property Features for 940 Hansen Road
General Information
Standard status
Active
Size
23,843 SF
Total Parking Spaces
146
Property subtype
Retail, Office
Zoning
Merchantile
Occupancy
100%
Lease Type
NNN
Investment Type
Stabilized
Net Operating Income
$356,882
Building Details
Year Built
2008
Buildings
1
Units
7
Tenancy
Multi
Listing Agency:
Besaw Properties LTD
Listed By:
Tim Besaw · License #WI 52657
(920) 680-8080
Source:
Crexi
Added: Jul 29
Changed: Oct 28
Last Checked: Nov 1 at 4:50AM
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 Besaw Properties LTD
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Investment Insights
Based on property information with market context.
This commercial property comprises 23,843 square feet in a multi-tenant strip-center format, with office-suite space and a tenant mix already in place. Constructed in 2008, the property is designated for Merchantile use and is offered for sale. Lease terms average 3–5 years across the tenancy, providing a defined occupancy profile for review.
The property is located at 940 Hansen Road in the Village of Ashwaubenon, within Green Bay, Wisconsin. Its setting supports a combination of retail and office occupancy within the center. The offering is broker-owned, and the existing tenant composition and lease-duration information provide a straightforward basis for evaluating the property’s current commercial configuration.
The property is located at 940 Hansen Road in the Village of Ashwaubenon, within Green Bay, Wisconsin. Its setting supports a combination of retail and office occupancy within the center. The offering is broker-owned, and the existing tenant composition and lease-duration information provide a straightforward basis for evaluating the property’s current commercial configuration.
Key Highlights
- 23,843‑square‑foot multi‑tenant commercial property
- Strip‑center format with office‑suite space
- Leases average 3–5 years across the tenant mix
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$281,538
Cap Rate
6.62%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$5,630,760
$5.6M
Cap Rate 7%
$4,021,971
$4.0M
Cap Rate 9%
$3,128,200
$3.1M
Market Conditions
NOI Build-Up for 23,843 SF
Gross rent
$457.8K $19.20/SF
− Vacancy
−$82.4K −$3.46/SF
EGI
$375.4K $15.74/SF
− OpEx
−$93.8K −$3.94/SF
NOI
$281.5K $11.81/SF
Area
Green Bay, WI
Vacancy
18.00%
Lease Rate
$19.20 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$5,630,760
Cap Rate 7%
$4,021,971
Cap Rate 9%
$3,128,200
Alternative Uses
Best Use
Office B
$4.02M
$3.52M – $4.69M
NOI $281,538 @ 7.0% cap · market cap 6.62%
Second Best
Retail
$3.77M
$3.29M – $4.39M
NOI $263,570 @ 7.0% cap · market cap 6.20%
Theoretical Best
Office A
$5.56M
$4.86M – $6.49M
NOI $389,118 @ 7.0% cap · market cap 9.16%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
891
Businesses Nearby
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Business Placement
Demographics for 54304, WI
27,679
Population
12,997
Households
2.1
Avg Household Size
39
Median Age
28%
College-Educated
93%
High-School Grad
11.7 sq mi
ZIP Area
2,366
Density / Sq Mi
$60,369
Median Household Income
$38,926
Median Earnings
$935
Median Rent
$200,800
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in Midwest region
Frequently Asked Questions
What type of property is this?
Strip mall - Multi-tenant commercial property with leases averaging 3–5 years and a tenant mix serving the Ashwaubenon market.
Where is this strip mall located?
The property is located at 940 Hansen Road Green Bay, WI.
What is the asking price?
The asking price for this property is $4,250,000.
What are key features of this property?
This property features: 23,843‑square‑foot multi‑tenant commercial property; Strip‑center format with office‑suite space; Leases average 3–5 years across the tenant mix
