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    2928 Bluebird Dr Portage, WI 53901
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    Property profile & analytics

    2928 Bluebird Dr, Portage, WI 53901

    View on Map
    • Commercial real estate
    • 0.09 lot acres
    Off-Market
    Property ID
    US92-0927240
    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.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Commercial real estate

    Property Details for 2928 Bluebird Dr

    Lot size
    0.09 lot acres
    Property type
    Commercial real estate

    Description

    Exceptional opportunity to develop 47 lots in Portage, Wisconsin, ranging from 0.09 to 0.37 acres. This prime commercial and residential land is ideally situated in a new neighborhood boasting underground utilities, including internet, a brand new water and sewer system, and newly constructed sidewalks and roads. The development plan allows for a diverse range of construction, including 100 single-family home lots suitable for homes ranging from 4,000 to 10,000 square feet, 192 multi-family apartment units, and 6 duplex units. This presents a unique chance to capitalize on the growing demand for housing in a desirable location. The area offers the charm of small-town living while providing easy access to shopping, schools, a hospital, and the interstate system. The lots are conveniently located on the banks of the Wisconsin and Fox Rivers. Starting prices for lots begin at $29,900. This development presents a compelling investment opportunity with significant potential for growth and return. The infrastructure is already in place, minimizing development costs and accelerating the timeline to completion. Don't miss this chance to be part of a thriving community.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Portage
    County
    Columbia
    State
    Wisconsin
    Longitude
    -89.458908630518
    Latitude
    43.566455191934

    Comparable in this City

    • $249,000

      Restaurant/Tavern with Income Apartment

      Established restaurant/tavern with a 3-bedroom income-generating apartment.
      223 W Oneida St, Portage, WI 53901
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    • $100,000
      2.14 Acres

      Land with Water Access

      2.14-acre parcel with deeded access to Wisconsin River.
      Giese Ln, Portage, WI 53901
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    • $74,900
      1.02 Acres

      Land Near Lake Wisconsin Access

      Over one acre near Lake Wisconsin with private boat launch.
      N4648 Allan Rd, Portage, WI 53901
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    • $59,900
      0.33 Acres

      Wooded Lot in Mariah’s Pines

      Buildable 0.326-acre lot in established Portage neighborhood.
      Pine Ridge Ct, Portage, WI 53901
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    • $140,000
      2.08 Acres

      Portage Land Near Lake Wisconsin

      2+ acre property with lake access near Devil's Lake.
      11 Allan Rd, Portage, WI 53901
      View Details
    • Contact for pricing

      Portage Industrial Park Land Available

      Industrial park lots available in Portage, Wisconsin, near Interstate.
      Hwy 16 & Boeck Rd, Portage, WI 53901
      View Details

    Similar Nearby for Sale

    • $249,000

      Restaurant/Tavern with Income Apartment

      Established restaurant/tavern with a 3-bedroom income-generating apartment.
      223 W Oneida St, Portage, WI 53901
      View Details
    • $100,000
      2.14 Acres

      Land with Water Access

      2.14-acre parcel with deeded access to Wisconsin River.
      Giese Ln, Portage, WI 53901
      View Details
    • $59,900
      0.33 Acres

      Wooded Lot in Mariah’s Pines

      Buildable 0.326-acre lot in established Portage neighborhood.
      Pine Ridge Ct, Portage, WI 53901
      View Details
    • $140,000
      2.08 Acres

      Portage Land Near Lake Wisconsin

      2+ acre property with lake access near Devil's Lake.
      11 Allan Rd, Portage, WI 53901
      View Details
    • Contact for pricing

      Portage Industrial Park Land Available

      Industrial park lots available in Portage, Wisconsin, near Interstate.
      Hwy 16 & Boeck Rd, Portage, WI 53901
      View Details
    • $350,000
      20.12 Acres

      Unique Wooded Parcel Near Portage

      20+ acre wooded parcel with ravine and hunting opportunities.
      20.12 Acres Hwy 33, Portage, WI 53901
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      1410-1450 East Wisconsin St, Portage, WI 53901

      Specialty properties
      1410-1450 East Wisconsin St, Portage, WI 53901
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    • Contact for pricing

      Flexible Office Space Available

      Office suites for rent with utilities and internet included.
      1115 W Pleasant St, Portage, WI 53901
      View Details
    • Contact for pricing

      Customizable Office Space Available

      Build-to-suit office space ready for customization.
      2652 Murphy Rd, Portage, WI 53901
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    • Contact for pricing

      Retail Space for Lease

      Retail space available for lease at Hwy 51 & Eastridge Road.
      Sec Hwy 51 & Eastridge Rd, Portage, WI 53901
      View Details
    • Contact for pricing

      Multi-Use Flex Warehouse Facility

      Flex warehouse space with loading docks and overhead doors, plus a small office and strong lighting for varied operations.
      1057 Silver Lake Dr, Portage, WI 53901
      View Details
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    Portage, WI 53901
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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.

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