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    31 Means Dr Platteville, WI 53818

    For Sale
    $264,771

    Wisconsin Government Office, Excellent NOI

    Property size:
    2,000 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    366
    This exceptional investment opportunity presents a 2,000 square foot Class C office building situated on a 1.37-acre lot at 31 Means Dr, Platteville, WI 53818. Built in 1996, this single-story building boasts 100% occupancy with a strong net operating income (NOI) of $16,888, yielding a 6.38% cap rate. The asking price is $264,771, translating to $132.39 per square foot. The property features ample parking with 21 spaces and is currently leased under a gross lease structure to a mix of Wisconsin state agencies and other tenants. Leases are primarily five-year terms with options, incorporating escalator clauses. The portfolio's average lease term to maturity, including options, is 26 months (excluding 10 leases currently in the renewal process). This property is ideally suited for 1031 exchange investors and offers the potential for property management services. The property's APN is 271-00930-0115. This is a single-tenant occupancy property.

    Property Features for 31 Means Dr

    General Information

    Property type
    Government properties
    Square Feet
    2,000 SF
    Class
    C
    Lot Size
    59,677 SF

    Building Details

    Year Built
    1996
    Stories
    1

    HighLights

    • Excellent investment opportunity: 2,000 SF Class C office building on 1.37 acres in Platteville, WI.
    • Gross leases with 5‑year terms and options; escalator clauses included.
    • Optional property management services available.
    • Tenants include Wisconsin state agencies and other businesses.
    • Leases contain escalator clauses.
    • 1031 exchange eligible.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Platteville DMV Department Of Motor Vehicles

    Suggested Use

    Restaurant Realty agency Spa & Massage Dental Office Building Supply Wholesale Shop Clothing Store Hotel & Motel Auto Repair Shop Gym & Fitness

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

    Location Insight

    • Map
    • Local Demand
    City
    Platteville
    County
    Grant
    State
    Wisconsin
    Longitude
    -90.448554
    Latitude
    42.729754

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    FAQs

    What type of property is this?
    Government property - Wisconsin Government Office, Excellent NOI
    Where is this government property located?
    The property is located at 31 Means Dr Platteville, WI.
    What is the asking price?
    The asking price for this property is $264,771.
    What are key features of this property?
    This property features: Excellent investment opportunity: 2,000 SF Class C office building on 1.37 acres in Platteville, WI.; Gross leases with 5-year terms and options; escalator clauses included.; Optional property management services available.
    Request Owner's contact information
    31 Means Dr Platteville, WI 53818
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    Realmo Value Estimation

    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.

    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.

    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
    31 Means Dr Platteville, WI 53818
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