3422 Wilgus Ave Sheboygan, WI 53081
- Office buildings
- 8,017 SF
- 1.44 lot acres
Current Use by Public Records
- Probation & Parole Division / Probation Office
- Division-Community Corrections / Prison
Property Details for 3422 Wilgus Ave
- Year built
- 1995
- Construction
- STEEL FRAME
- Lot size
- 1.44 lot acres
- Property size
- 8,017 SF
- Zone code
- BB5
- Property type
- Office buildings
- APN
- 59281215826
- APU
- 59281215826
Description
This exceptional investment opportunity presents a 8,200 square foot Class B office building located at 3422 Wilgus Ave, Sheboygan, Wisconsin 53081. The property, built in 1994 or later, sits on a 1.44-acre lot and features two buildings with a single story and 64 parking spaces. Currently boasting 100% occupancy with a gross lease structure, the property generates a substantial net operating income (NOI) of $107,416, resulting in a compelling 7.42% capitalization rate. The asking price is $1,100,384, translating to $134.19 per square foot. Tenancy is primarily comprised of various State of Wisconsin agencies, along with a few non-state tenants. Leases are predominantly structured as 5-year terms with options, and many include escalator clauses. The property is zoned BB5 and its APN is 59281215826. This offering is well-suited for 1031 exchange investors. The average cap rate for leases with remaining terms over 36 months is 8.1%, while the average cap rate for leases with remaining terms under 36 months is 8.25%. Professional property management is available if desired.
Value Estimations
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AI approach
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CAP approach
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Comparable approach
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Alternative Use
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Location Insight
- Map
- Local Demand
- City
- Sheboygan
- County
- Sheboygan
- State
- Wisconsin
- Longitude
- -87.753
- Latitude
- 43.7592
- CBSA code
- 43100
- CBSA name
- SHEBOYGAN, WI METROPOLITAN STATISTICAL AREA
