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Listing Agency: Realty Officials

Listed By: Cottrell Team* · License #59505-90 Show Phone

Source: Exprealty

Added: Feb 18 Changed: Oct 5 Last Checked: Oct 15 at 4:15AM

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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 Realty Officials

Investment Insights

Based on property information with market context.

This flex space property includes two commercial buildings with office areas and multiple overhead doors. The larger building measures approximately 10, 100 square feet, while the second building covers approximately 2, 200 square feet. The separate structures provide a combination of work and administrative areas across the site.

The property encompasses 4.97 acres along State Highway 57 at N7277 State Highway 57 in Random Lake, Wisconsin. Direct highway access places both buildings on a prominent transportation corridor for commercial operations requiring visibility and convenient roadway connection.

Key Highlights

• 4.97‑acre property along State Highway 57
• Two commercial buildings measuring approximately 10, 100 square feet and 2, 200 square feet
• Multiple overhead doors in both buildings

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$63,619

Cap Rate

7.96%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,272,380 $1.3M

Cap Rate 7%

$908,843 $908.8K

Cap Rate 9%

$706,878 $706.9K

Is this asking price fair?

Market Conditions

NOI Build-Up for 10,149 SF

Gross rent

$91.3K $9.00/SF

− Vacancy

−$457 −$0.05/SF

EGI

$90.9K $8.96/SF

− OpEx

−$27.3K −$2.69/SF

NOI

$63.6K $6.27/SF

Area

Sheboygan County, WI

Vacancy

0.50%

Lease Rate

$9.00 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,272,380

Cap Rate 7%

$908,843

Cap Rate 9%

$706,878

Alternative Uses

Best Use

Flex RnD

$1.28M

$1.12M – $1.49M (±1% cap)

NOI $89,580 @ 7.0% cap · market cap 11.21%

Second Best

Warehouse

$1.10M

$965.7K – $1.29M (±1% cap)

NOI $77,252 @ 7.0% cap · market cap 9.67%

Theoretical Best

Office A

$2.21M

$1.94M – $2.58M (±1% cap)

NOI $154,832 @ 7.0% cap · market cap 19.38%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Flex space

Suggested Use

Top Pick Electrical Service Bakery (Bike/Boat/Book/etc) Store Dental Office Storage Facility Restaurant

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

6

Businesses Nearby

Well-served

Demand for This Use

Explore this area Business Placement

Demographics for 53075, WI

3,219

Population

1,475

Households

2.2

Avg Household Size

48

Median Age

24%

College-Educated

94%

High-School Grad

36.5 sq mi

ZIP Area

88

Density / Sq Mi

$90,917

Median Household Income

$49,385

Median Earnings

$890

Median Rent

$273,000

Median Home Value

Market

Vacancy Rate% for Industrial in Midwest region

4.4% 2019

4.9% 2020

3.6% 2021

3.1% 2022

4.6% 2023

5% 2024

4.9% 2025

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Flex Space with Overhead Doors

N7277 State Road 57, Random Lake, WI 53075

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Frequently Asked Questions

What type of property is this?

Flex space - Two commercial buildings combine office areas with multiple overhead doors on a highway-accessible acreage site.

Where is this flex space located?

The property is located at N7277 State Highway 57 Random Lake, WI.

What is the asking price?

The asking price for this property is $799,000.

What are key features of this property?

This property features: 4.97‑acre property along State Highway 57; Two commercial buildings measuring approximately 10, 100 square feet and 2, 200 square feet; Multiple overhead doors in both buildings