Medical Office Conversion
For Sale
$825,000
N168W20566 Main St, Jackson, WI 53037
N, Jackson, WI
Property Size4,700 SF
Lot Size0.50 Acres
Price / SF$175.53
Days on Market571
Property Features for N168W20566 Main St
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
Commercial
Standard status
Active
APN
V3 0029
Size
4,700 SF
Lot size
0.50 Acres
Taxes and HOA fees
Tax Year
2023
Tax Annual Amount
9443
Amenities
backup generator
air conditioning
alarm system
private bath with shower
waiting room
lab
kitchenette
laundry hookup
lockers
storage
Building Details
Year built
2004
Architectural style
Other
Listing Agency:
Lannon Stone Realty LLC
(262) 333-4440
Listed By:
Brian Altman · License #43258-94
(262) 242-8922
Added: Jan 27, 2025
Changed: Aug 19
Last Checked: Aug 21 at 5:06PM
MLS# 1905269
Copyright © 2026 Metro MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This well-maintained office building was originally built as a dental office and is available for sale or lease. The space includes five individual offices, including one with a private bath and shower, along with a large waiting room and five dental stations with windows overlooking a park. Additional interior features include a lab area, a kitchenette with laundry hook-ups and employee lockers, a separate lab room, a surgery room, and ample storage with sinks.
The property is zoned commercial and has easy access to the interstate. It is adjacent to a park, and the building includes a Kohler backup generator, two AC units, and an alarm system.
The layout is office-focused with dedicated rooms that support clinical workflows, while the seller also notes suitability for a daycare use.
The property is zoned commercial and has easy access to the interstate. It is adjacent to a park, and the building includes a Kohler backup generator, two AC units, and an alarm system.
The layout is office-focused with dedicated rooms that support clinical workflows, while the seller also notes suitability for a daycare use.
Key Highlights
- Built in 2004 office space originally configured as a dental office, with conversion to other office uses
- 5 individual offices, including one office with a private bath and shower
- Huge waiting room plus 5 dental stations with windows overlooking an adjacent park
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
$66,827
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
8.10%
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%
$1,336,540
$1.3M
Cap Rate 7%
$954,671
$954.7K
Cap Rate 9%
$742,522
$742.5K
Market Conditions
NOI Build-Up for 4,700 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
$116.7K $24.84/SF
− Vacancy
−$27.6K −$5.88/SF
EGI
$89.1K $18.96/SF
− OpEx
−$22.3K −$4.74/SF
NOI
$66.8K $14.22/SF
Area
Washington County, WI
Vacancy
23.68%
Lease Rate
$24.84 /SF/Yr
Expense Ratio
25.00%
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%
$1,336,540
Cap Rate 7%
$954,671
Cap Rate 9%
$742,522
Alternative Uses
Best Use
Office B
$954.7K
$835.3K – $1.11M
NOI $66,827 @ 7.0% cap · market cap 8.10%
Second Best
Healthcare Medical
$875.6K
$766.2K – $1.02M
NOI $61,293 @ 7.0% cap · market cap 7.43%
Theoretical Best
Office A
$1.29M
$1.13M – $1.51M
NOI $90,447 @ 7.0% cap · market cap 10.96%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
5
Office units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
265
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 53037, WI
10,072
Population
4,298
Households
2.3
Avg Household Size
43
Median Age
35%
College-Educated
97%
High-School Grad
23.1 sq mi
ZIP Area
436
Density / Sq Mi
$95,602
Median Household Income
$53,949
Median Earnings
$1,128
Median Rent
$312,000
Median Home Value
Market
Vacancy Rate% for Office in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Medical Office Space - Well-maintained office building features five individual offices, multiple treatment rooms, and a lab-ready layout.
Where is this medical office space located?
The property is located at N168W20566 Main St Jackson, WI.
What is the asking price?
The asking price for this property is $825,000.
What are key features of this property?
This property features: Built in 2004 office space originally configured as a dental office, with conversion to other office uses; 5 individual offices, including one office with a private bath and shower; Huge waiting room plus 5 dental stations with windows overlooking an adjacent park
