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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    2020 Innovation Ct De Pere, WI 54115

    • Office buildings
    • 175,271 SF
    • 17.86 lot acres
    For Lease
    View listing
    Last Sale
    Jul 22, 2022
    $36,885,000
    Value Estimations
    $27,180,000
    Cap Rate Potential
    8.4%
    Office buildings
    Location Intelligence
    Property ID
    US92-3444551
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Landmark Health / Medical Group

    Property Details for 2020 Innovation Ct

    Year built
    2021
    Lot size
    17.86 lot acres
    Property size
    175,271 SF
    Property type
    Office buildings
    APN
    WD D0036-2
    APU
    WDD00362

    Description

    This exceptional Class A office building, located at 2020 Innovation Court in De Pere, Wisconsin, offers 87,000 square feet of vacant space in a 161,123 square foot building. Currently, one contiguous space of 43,500 square feet is available for lease, representing a significant portion of two floors that have never been occupied. The building boasts a prime location adjacent to the US Highway 41/141 freeway ramp, providing convenient access for employees and clients. Its proximity to Austin Straubel Airport further enhances its appeal. This state-of-the-art facility offers a modern and efficient workspace, ideal for businesses seeking a prestigious address. On-site amenities include a cafeteria, exercise facility, and training facility available for lease on the first floor. The building's modern design and amenities, combined with its convenient location and the availability of a large, contiguous block of never-before-occupied space, present a unique opportunity for a discerning tenant. The property is situated in Brown County, Wisconsin, with a zip code of 54115. This is a rare chance to secure a substantial, high-quality office space in a desirable location. The building's multiple tenancy structure allows for flexibility and scalability.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $25,935,000
      ML approach
      $7,630,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $36,175,000
      6.5%
      $33,395,000
      7%
      $31,010,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $25,934,000
      Market price range: $4.90M - $25.9M
      AI Estimate
      $25,136,000
      Market price range: $7.80M - $25.9M

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $18,515,000
      Current use
      RESTAURANT
      $30,325,000
      Change: +64% Conversion: Moderate
      AUTO REPAIR, GARAGE
      $23,145,000
      Change: +25% Conversion: Difficult
      COMMERCIAL (GENERAL)
      $18,120,000
      Change: -2% Conversion: Easy
      APARTMENT HOUSE (5+ UNITS)
      $16,570,000
      Change: -11% Conversion: Easy

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    De Pere
    County
    Brown
    State
    Wisconsin
    Longitude
    -88.1223
    Latitude
    44.4224
    CBSA code
    24580
    CBSA name
    GREEN BAY, WI METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $644,368
    $700,000
    $36,185,000
    $36,885,000
    -
    $0.00
    $0.00
    $37,834,600

    Comparable in this City

    • Value Estimation
      $275,000
      3,895 SF

      416 George St

      OFFICE BUILDING • 3,895 SF
      416 George St, De Pere, WI 54115-2773
      View Details
    • Value Estimation
      $495,000
      4,104 SF

      700 Heritage Rd

      OFFICE BUILDING • 4,104 SF
      700 Heritage Rd, De Pere, WI 54115-3147
      View Details
    • Value Estimation
      $255,000
      1,120 SF

      1700 Matthew Dr

      OFFICE BUILDING • 1,120 SF
      1700 Matthew Dr, De Pere, WI 54115-9132
      View Details
    • Value Estimation
      $290,000
      1,638 SF

      719 Millenium Ct

      OFFICE BUILDING • 1,638 SF
      719 Millenium Ct, De Pere, WI 54115-4909
      View Details
    • Value Estimation
      $335,000
      6,560 SF

      2081 Profit Pl

      OFFICE BUILDING • 6,560 SF
      2081 Profit Pl, De Pere, WI 54115-7825
      View Details
    • Value Estimation
      $400,000
      6,728 SF

      340 Wisconsin St

      OFFICE BUILDING • 6,728 SF
      340 Wisconsin St, De Pere, WI 54115-2766
      View Details

    Similar Nearby for Sale

    • $195,000
      1.22 Acres

      Prime De Pere Commercial Land

      1.2 Acres, I-41 Visibility, High Traffic
      1430 Scheuring Rd, De Pere, WI 54115
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    • $1,199,000
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      Multi-Tenant Office/Warehouse Investment Opportunity

      Class-A property with stable income stream near I-41 & I-43.
      3400 Packerland Dr, De Pere, WI 54115
      View Details
    • Contact for pricing
      Pending

      De Pere Office Space Available

      Professional office spaces for lease in De Pere, Wisconsin.
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      View Details
    • $52,900
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      Residential Land in De Pere

      Vacant land in De Pere, close to amenities and highway.
      2493 Tipperary Trl, De Pere, WI 54115
      View Details
    • $799,761

      De Pere Eastside Land Available

      Land available in De Pere's eastside growth area.
      Monroe Rd, De Pere, WI 54115
      View Details

    Similar Nearby for Lease

    • $5 SF/Yr
      65,000 SF

      Class A Corporate Office Space

      Corporate office space for lease with build-to-suit options.
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      View Details
    • Contact for pricing
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      New Construction Retail/Office Space

      Class A office/retail space for lease with high visibility.
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    • $18 SF/Yr
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      De Pere Class A Office

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      View Details
    • Contact for pricing
      161,123 SF

      De Pere Executive Office Space

      Prestigious, new office space available.
      2020 Innovation Ct, De Pere, WI 54115
      View Details
    • Contact for pricing
      1,800 SF

      Prime Retail/Office Space Available

      Class A space with high visibility and ample parking.
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      View Details
    • $12 SF/Yr
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      Downtown De Pere Office Space

      Prime Office Building, Flexible Suites
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      View Details
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    2020 Innovation Ct
    De Pere, WI 54115
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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