Net-Leased Medical Office
For Sale
Contact for pricing
N20W22961 Watertown Road, Pewaukee, WI 53186
Single-tenant, well-maintained office building leased to a regional healthcare provider with direct access to Watertown Road.
Property Size8,468 SF
Price / SF$212.56
Days on Market147
Property Features for N20W22961 Watertown Road
General Information
Standard status
Active
Size
8,468 SF
Property subtype
Office
Zoning
B-4 Professional Office
Lease Type
NNN
Investment Type
Sale/Leaseback
Net Operating Income
$135,000
Additional Details
Highway Access
Yes
Building Details
Buildings
1
Tenancy
Single
Listing Agency:
Newmark - Milwaukee
Listed By:
Adam Matson · License #WI 52857
(262) 613-6096
Source:
Crexi
Added: May 28
Changed: Oct 14
Last Checked: Oct 20 at 6:37PM
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 Newmark - Milwaukee
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Investment Insights
Based on property information with market context.
This single-tenant medical office property is offered for sale with a new lease by a strong local tenant. The building is well maintained and configured for healthcare office use, with the tenant operating an integrated care model that includes on-site physician and advanced practice services. Services referenced in the offering include internal medicine, wound care, psychiatry, physical medicine, and telemedicine, supporting care across post-acute and senior-focused environments.
The property provides access from Watertown Road and is positioned near direct access to I-94 at Goerke’s Corners, supporting regional connectivity across the Milwaukee metro. The offering describes the site as strategically located within the Waukesha/Brookfield office corridor.
For buyers seeking a healthcare-oriented, single-tenant asset, this property’s purchase structure is described as net-leased with immediate income support under a new lease. Limited management responsibility is referenced as part of the fit, and the tenant’s regional footprint and ongoing operational presence are highlighted as key considerations for long-term occupancy.
The property provides access from Watertown Road and is positioned near direct access to I-94 at Goerke’s Corners, supporting regional connectivity across the Milwaukee metro. The offering describes the site as strategically located within the Waukesha/Brookfield office corridor.
For buyers seeking a healthcare-oriented, single-tenant asset, this property’s purchase structure is described as net-leased with immediate income support under a new lease. Limited management responsibility is referenced as part of the fit, and the tenant’s regional footprint and ongoing operational presence are highlighted as key considerations for long-term occupancy.
Key Highlights
- Single‑tenant, net‑leased office property available for purchase with a new lease by a regional healthcare provider
- Well‑maintained building with access from Watertown Road
- Tenant is Oak Medical, a Wisconsin‑based provider specializing in on‑site physician and advanced practice services for post‑acute and senior‑focused settings
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$117,562
Cap Rate
6.53%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,351,240
$2.4M
Cap Rate 7%
$1,679,457
$1.7M
Cap Rate 9%
$1,306,244
$1.3M
Market Conditions
NOI Build-Up for 8,468 SF
Gross rent
$210.3K $24.84/SF
− Vacancy
−$53.6K −$6.33/SF
EGI
$156.7K $18.51/SF
− OpEx
−$39.2K −$4.63/SF
NOI
$117.6K $13.88/SF
Area
Waukesha County, WI
Vacancy
25.48%
Lease Rate
$24.84 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,351,240
Cap Rate 7%
$1,679,457
Cap Rate 9%
$1,306,244
Alternative Uses
Best Use
Healthcare Medical
$3.99M
$3.49M – $4.65M
NOI $279,256 @ 7.0% cap · market cap 15.51%
Second Best
Office B
$1.68M
$1.47M – $1.96M
NOI $117,562 @ 7.0% cap · market cap 6.53%
Theoretical Best
Flex RnD
$4.32M
$3.78M – $5.04M
NOI $302,527 @ 7.0% cap · market cap 16.81%
Zoning and permitted uses should be independently verified with authorities.
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Open Analytics
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
296
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 53186, WI
32,332
Population
15,066
Households
2.1
Avg Household Size
38
Median Age
39%
College-Educated
95%
High-School Grad
12.6 sq mi
ZIP Area
2,566
Density / Sq Mi
$74,596
Median Household Income
$42,007
Median Earnings
$1,180
Median Rent
$277,800
Median Home Value
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Market
Vacancy Rate% for Office in Midwest region
Frequently Asked Questions
What type of property is this?
Medical Office Space - Single-tenant, well-maintained office building leased to a regional healthcare provider with direct access to Watertown Road.
Where is this medical office space located?
The property is located at N20W22961 Watertown Road Pewaukee, WI.
What is the asking price?
The asking price for this property is $1,800,000.
What are key features of this property?
This property features: Single‑tenant, net‑leased office property available for purchase with a new lease by a regional healthcare provider; Well‑maintained building with access from Watertown Road; Tenant is Oak Medical, a Wisconsin‑based provider specializing in on‑site physician and advanced practice services for post‑acute and senior‑focused settings
