Multi-Building Flex
For Sale
$2,700,000
N5550 County Rd, Onalaska, WI 54650
Three separately metered buildings combine showroom, office, warehouse, loading, and garage functions.
Property Size17,640 SF
Price / SF$153.06
Days on Market40
Property Features for N5550 County Rd
General Information
Standard status
Active
Size
17,640 SF
Additional Details
Utilities to Site
Yes
Dock-High Doors
1
Building Details
Year Built
2025
Buildings
3
Listing Agency:
Coulee Real Estate & Property Management LLC
(608) 317-6505
Listed By:
Tara Campbell · License #90223-94
Source:
Nikolicgroup
Added: Jul 22
Changed: Aug 30
Last Checked: Aug 30 at 5:53AM
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 Coulee Real Estate & Property Management LLC
Investment Insights
Based on property information with market context.
This flex property includes three commercial buildings totaling 17,640 square feet, with construction completed in 2025. The first building combines showroom and office areas. The second provides warehouse space with a loading dock, storage, and a bathroom, while the third includes office and garage areas along with bathrooms.
Each building has separate metering. The property is served by a private well, septic system, and holding tank. The address is N5550 County Rd, Onalaska, WI 54650.
Each building has separate metering. The property is served by a private well, septic system, and holding tank. The address is N5550 County Rd, Onalaska, WI 54650.
Key Highlights
- 17,640‑square‑foot flex property completed in 2025
- Three separate commercial buildings with distinct office, showroom, warehouse, and garage areas
- Building 2 includes a loading dock, storage, and bathroom
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
$204,737
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
7.58%
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%
$4,094,740
$4.1M
Cap Rate 7%
$2,924,814
$2.9M
Cap Rate 9%
$2,274,856
$2.3M
Market Conditions
NOI Build-Up for 17,640 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
$338.7K $19.20/SF
− Vacancy
−$23.7K −$1.34/SF
EGI
$315.0K $17.86/SF
− OpEx
−$110.2K −$6.25/SF
NOI
$204.7K $11.61/SF
Area
La Crosse County, WI
Vacancy
7.00%
Lease Rate
$19.20 /SF/Yr
Expense Ratio
35.00%
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%
$4,094,740
Cap Rate 7%
$2,924,814
Cap Rate 9%
$2,274,856
Alternative Uses
Best Use
Flex RnD
$2.92M
$2.56M – $3.41M
NOI $204,737 @ 7.0% cap · market cap 7.58%
Second Best
Office B
$2.65M
$2.32M – $3.10M
NOI $185,749 @ 7.0% cap · market cap 6.88%
Theoretical Best
Specialty Retail
$3.86M
$3.38M – $4.50M
NOI $270,051 @ 7.0% cap · market cap 10.00%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Dock-high doors
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
402
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 54650, WI
24,523
Population
11,166
Households
2.2
Avg Household Size
41
Median Age
40%
College-Educated
98%
High-School Grad
30.9 sq mi
ZIP Area
794
Density / Sq Mi
$85,255
Median Household Income
$48,366
Median Earnings
$1,109
Median Rent
$279,100
Median Home Value
Market
Vacancy Rate% for Office in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Three separately metered buildings combine showroom, office, warehouse, loading, and garage functions.
Where is this flex space located?
The property is located at N5550 County Rd Onalaska, WI.
What is the asking price?
The asking price for this property is $2,700,000.
What are key features of this property?
This property features: 17,640‑square‑foot flex property completed in 2025; Three separate commercial buildings with distinct office, showroom, warehouse, and garage areas; Building 2 includes a loading dock, storage, and bathroom
