Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Wausau Medical/Office Building For Lease Title is generated by Realmo AI

    402 N 28th Ave, Wausau, WI 54401

    View on Map
    Claim this Listing
    For Lease
    Contact for pricing

    Class B+ medical/office building in prime Wausau medical area.

    Type:Office
    Added:
    Nov 19, 2020
    Days on Market:
    2021
    Last Refresh:
    May 12 at 9:15 pm

    Property Features for 402 N 28th Ave

    General Information

    Standard status
    Active
    Property subtype
    Office

    Building Details

    Year Built
    2003

    Spaces For Lease

    at 402 N 28th Ave Contact us

    Available Space 1 $14/Mo

    Size
    3,200 SF
    Type
    Office
    Contact us

    Available Space 2 $14/Mo

    Size
    3,200 SF
    Type
    Office
    Contact us

    We can help!

    Listing Contact
    T.J. Morice, SIOR

    Listing agent T.J. Morice, SIOR License #WI 89917-94

    Listing office NAI Pfefferle

    Listing date Nov 19, 2020

    Source Crexi

    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 NAI Pfefferle

    HighLights

    • Prime location in Wausau's medical district, across from Aspirus and Marshfield Clinic.
    • Class B+ medical/office/financial services building.
    • 36 on‑site parking stalls.
    • ADA accessibility and elevator.
    • Well‑maintained building constructed in 2003.
    • Shop abilities in lower level with garage storage area.

    Overview

    This Class B+ building is suitable for medical, office, or financial services. The property features ADA access and an elevator. It has 100 feet of frontage on 28th Avenue. The building is well-maintained and includes shop abilities in the lower level. Located in the prime medical area of Wausau, it is across from Aspirus and Marshfield Clinic. There are 36 engineered and constructed parking stalls. The basement area has windows facing east and a garage storage area. This quality office/medical facility is located along the same corridor as Wausau’s main medical facilities.
    Property Profile Location Intelligence

    Current Use by Public Records

    Medical Office Space

    Suggested Use

    Real Estate Agency Restaurant Law Firm Spa & Massage Center Hair Salon Dental Office Nail Salon Building Supply Auto Repair Shop Gym & Fitness Center

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

    Location Insight

    • Map
    • Local Demand
    City
    Wausau
    County
    Marathon
    State
    Wisconsin
    Longitude
    -89.6715016
    Latitude
    44.9664599

    Nearby Similar for Lease

    • Sponsored
      Contact for pricing

      WI, Wausau - Scott St

      11 Scott St, Wausau, WI 54403
      View Details
    • $7 SF/Yr
      11,000 SF

      Grand Avenue Retail/Office Space

      Highly visible retail and office spaces available for lease.
      2215 Grand Avenue, Wausau, WI 54403
      View Details
    • Contact for pricing
      4,500 SF

      Industrial Single Tenant Space

      Industrial space available for single tenant occupancy.
      152554 Cloverland Ln, Wausau, WI 54401
      View Details
    • $12 SF/Yr
      114 SF

      Wausau Office Space Available

      Office unit available for lease, offering 114 square feet.
      500 3rd St, Wausau, WI
      View Details
    • Contact for pricing

      Retail Space in High-Traffic Area

      Retail space in Wausau with high visibility and traffic.
      225421 Rib Mountain Dr, Wausau, WI 54401
      View Details
    • Contact for pricing

      High-Traffic Commercial Space Available

      Corner commercial space suitable for salon or office use.
      1027 South 17th Avenue, Wausau, WI 54401
      View Details
    • $3,000/Mo
      2,568 SF

      Retail Space in Historic District

      Downtown retail space ideal for small business owners.
      525 Fulton Street, Wausau, WI 54403
      View Details
    • $14 SF/Yr

      Class A Office Space Available

      Professional office suite with highway visibility and parking.
      311 Financial Way, Wausau, WI 54401
      View Details
    • $7 SF/Yr

      Downtown Wausau Office Space Available

      Remodeled office space in downtown Wausau, near amenities.
      500 N 3rd Street, Wausau, WI 54403
      View Details
    • $15 SF/Yr

      Wausau Flex Space Available

      Flex space with high ceilings and ample parking.
      800 Scott St, Wausau, WI 54403
      View Details
    • $8 SF/Yr
      2,400 SF

      Wausau Office Space Available

      Class A office space for rent in Wausau.
      327 N 17th Ave, Wausau, WI 54401
      View Details
    • $4 SF/Yr
      14,970 SF

      Wausau Industrial Spaces For Lease

      Industrial spaces available for lease with loading docks and overhead doors.
      1328 Curling Way, Wausau, WI 54403
      View Details

    FAQs

    What type of property is this?
    Medical Office Space - Class B+ medical/office building in prime Wausau medical area.
    Where is this medical office space located?
    The property is located at 402 N 28th Ave Wausau, WI.
    What is the lease rate?
    The lease rate is $14 SF/Yr.
    What are key features of this property?
    This property features: Prime location in Wausau's medical district, across from Aspirus and Marshfield Clinic.; Class B+ medical/office/financial services building.; 36 on‑site parking stalls.
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    T.J. Morice, SIOR
    Real Estate License ID: WI 89917-94
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    402 N 28th Ave, Wausau, WI 54401
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!