Flex Space with Overhead
For Sale
$799,000
N7277 State Highway 57, Random Lake, WI 53075
Two commercial buildings combine office areas with multiple overhead doors on a highway-accessible acreage site.
Property Size10,149 SF
Price / SF$78.73
Days on Market193
Property Features for N7277 State Highway 57
General Information
Standard status
Active
Size
10,149 SF
Taxes and HOA fees
Annual Taxes
$4,664
Listing Agency:
Realty Officials
(262) 546-7000
Listed By:
Cottrell Team* · License #59505-90
(262) 546-7000
Source:
Exprealty
Added: Feb 18
Changed: Aug 29
Last Checked: Aug 29 at 8:31PM
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.
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 = 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
$63,619
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
7.96%
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%
$1,272,380
$1.3M
Cap Rate 7%
$908,843
$908.8K
Cap Rate 9%
$706,878
$706.9K
Market Conditions
NOI Build-Up for 10,149 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
$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 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%
$1,272,380
Cap Rate 7%
$908,843
Cap Rate 9%
$706,878
Alternative Uses
Best Use
Flex RnD
$1.28M
$1.12M – $1.49M
NOI $89,580 @ 7.0% cap · market cap 11.21%
Second Best
Warehouse
$1.10M
$965.7K – $1.29M
NOI $77,252 @ 7.0% cap · market cap 9.67%
Theoretical Best
Office A
$2.21M
$1.94M – $2.58M
NOI $154,832 @ 7.0% cap · market cap 19.38%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
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
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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
