2425 New Pinery Rd
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2425 New Pinery Rd
6,500 SF 100% Leased Office Building Portage, WI 53901 $575,000 ($88/SF) 8.44% Cap Rate
Investment Highlights
- Fully Leased Building
- Large Parking Lot
- Heavy Trafficked corner- North Side location
Executive Summary
Come see this beautiful office building with 4 large office suites that is fully leased! This building is located on the corner of Slifer and New Pinery, with high traffic count on a busy corner. Access to the large parking lot is easy from the side road. Each office suite offers private offices, conference rooms and open spaces. The building offers an elevator, water fountain, two public restrooms & signage. Gross rents for 2022: $5,419/month, 2023: $5,572.62/month and 2023: $5,731.28/month. (Several of the leases have an escalator clause) Call Today!
Currently 100% Leased!!
Currently 100% Leased!!
Financial Summary (Pro forma - 2023) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$66,871
|
$10.29
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$66,871
|
$10.29
|
| Taxes |
$9,007
|
$1.39
|
| Operating Expenses |
$7,511
|
$1.16
|
| Total Expenses |
$16,518
|
$2.54
|
| Net Operating Income |
$50,353
|
$7.75
|
Financial Summary (Pro forma - 2023)
| Gross Rental Income | |
|---|---|
| Annual | $66,871 |
| Annual Per SF | $10.29 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $66,871 |
| Annual Per SF | $10.29 |
| Taxes | |
|---|---|
| Annual | $9,007 |
| Annual Per SF | $1.39 |
| Operating Expenses | |
|---|---|
| Annual | $7,511 |
| Annual Per SF | $1.16 |
| Total Expenses | |
|---|---|
| Annual | $16,518 |
| Annual Per SF | $2.54 |
| Net Operating Income | |
|---|---|
| Annual | $50,353 |
| Annual Per SF | $7.75 |
Property Facts
Sale Type
Investment or Owner User
Property Type
Office
Property Subtype
Building Size
6,500 SF
Building Class
B
Year Built
2004
Price
$575,000
Price Per SF
$88
Cap Rate
8.44%
NOI
$48,510
Percent Leased
100%
Tenancy
Multiple
Building Height
2 Stories
Typical Floor Size
3,250 SF
Building FAR
0.23
Lot Size
0.66 AC
Zoning
Commercial - Commercial
Parking
20 Spaces (3.08 Spaces per 1,000 SF Leased)
Amenities
- 24 Hour Access
- Central Heating
- Natural Light
- Drop Ceiling
- Air Conditioning
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PROPERTY TAXES
| Parcel Number | 11271-3090.1 | Total Assessment | $338,100 |
| Land Assessment | $226,500 | Annual Taxes | $9,007 ($1.39/SF) |
| Improvements Assessment | $111,600 | Tax Year | 2023 |
PROPERTY TAXES
Parcel Number
11271-3090.1
Land Assessment
$226,500
Improvements Assessment
$111,600
Total Assessment
$338,100
Annual Taxes
$9,007 ($1.39/SF)
Tax Year
2023
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2425 New Pinery Rd
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