Building Details

Year Built 1950

Buildings 2

Listing Agency: Realty Officials c***@realtyofficials.com Show Phone

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

Source: Viewhomesinwisconsin

Added: May 10 Changed: Aug 29 Last Checked: Aug 25 at 8:05AM

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Investment Insights

Based on property information with market context.

This flex-space property includes two commercial buildings on a 4.97-acre site. The larger building contains approximately 10,100 square feet, while the second building provides approximately 2,200 square feet. Both structures have multiple overhead doors and office areas, supporting a combination of workspace, storage, and commercial operations.

The property fronts Hwy 57 at N7277 State Road 57 in Fredonia, Wisconsin. Originally built in 1950, the site offers a substantial existing building configuration with separate structures and direct highway access.

Key Highlights

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

$44,828

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

5.61%

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%

$896,560 $896.6K

Cap Rate 7%

$640,400 $640.4K

Cap Rate 9%

$498,089 $498.1K

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

$55.5K $5.47/SF

− Vacancy

−$2.8K −$0.27/SF

EGI

$52.7K $5.20/SF

− OpEx

−$7.9K −$0.78/SF

NOI

$44.8K $4.42/SF

Area

Ozaukee County, WI

Vacancy

5.00%

Lease Rate

$5.47 /SF/Yr

Expense Ratio

15.00%

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%

$896,560

Cap Rate 7%

$640,400

Cap Rate 9%

$498,089

Alternative Uses

Best Use

Warehouse

$640.4K

$560.4K – $747.1K (±1% cap)

NOI $44,828 @ 7.0% cap · market cap 5.61%

Second Best

Industrial

$527.9K

$462.0K – $615.9K (±1% cap)

NOI $36,956 @ 7.0% cap · market cap 4.63%

Theoretical Best

Office A

$2.39M

$2.09M – $2.79M (±1% cap)

NOI $167,385 @ 7.0% cap · market cap 20.95%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Current Use

Flex space

Suggested Use

Top Pick Food Market Farmer's Market

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

Lease Details

Yes

Highway access

Yes

Paved road access

Location Intelligence

Trade Area within ½ mile

5

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

Questions? Ask Rey

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What type of property is this? Where is this flex space located? What is the asking price? Find similar properties ... What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Flex space - Two commercial buildings combine overhead-door access with dedicated office space.

Where is this flex space located?

The property is located at N7277 State Road 57 Fredonia, 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 commercial property along Hwy 57; Two buildings measuring approximately 10,100 square feet and 2,200 square feet; Multiple overhead doors in both commercial buildings