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2875 Village Rd 9,000 SF 79% Leased Office Building Portage, WI 53901 $995,000 ($110.56/SF) 9.54% Cap Rate
INVESTMENT HIGHLIGHTS
- Government Leases - Recently extended
- Easily Accessible
- 3 Units
EXECUTIVE SUMMARY
Built in 2003, this multi-tenant building with a newly signed Social Security Lease is available. Tenants include Social Security, Department of Workforce Development, Hearing Care Associates, Wilkinson Law. The Social Security lease features annual CPI rent increases using the standard GSA leasing structure where any increase in expenses will be covered by the Consumer Price Index increase for the following year. The Social Security just renewed their lease for 10 years, 5 years of which are firm showing their commitment to this site and location. The Department of Workforce Development recently exercised their three-year renewal extending their lease through December 31, 2025. The property features a new roof top / AC unit and 3M solar film to reduce future operating expense. This is a prime location located just off Interstate 39 near many national and regional retailers including Wal-Mart, Kwik Trip, Festival Foods, Northridge Plaza, Goodwill, Tractor Supply, Pizza Ranch, Culvers as well as Madison Area Technical College – Portage and Aspirus Divine Savior Hospital.
FINANCIAL SUMMARY (PRO FORMA - 2025) |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
$162,604
|
$18.07
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$162,604
|
$18.07
|
| Taxes |
-
|
-
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$67,696
|
$7.52
|
| Net Operating Income |
$94,908
|
$10.55
|
FINANCIAL SUMMARY (PRO FORMA - 2025)
| Gross Rental Income | |
|---|---|
| Annual | $162,604 |
| Annual Per SF | $18.07 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $162,604 |
| Annual Per SF | $18.07 |
| Taxes | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Operating Expenses | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses | |
|---|---|
| Annual | $67,696 |
| Annual Per SF | $7.52 |
| Net Operating Income | |
|---|---|
| Annual | $94,908 |
| Annual Per SF | $10.55 |
PROPERTY FACTS
Sale Type
Investment
Property Type
Office
Building Size
9,000 SF
Building Class
B
Year Built
2003
Price
$995,000
Price Per SF
$110.56
Cap Rate
9.54%
NOI
$94,908
Percent Leased
79%
Tenancy
Multiple
Building Height
1 Story
Typical Floor Size
9,000 SF
Building FAR
0.18
Lot Size
1.15 AC
Opportunity Zone
Yes
MAJOR TENANTS
- TENANT
- INDUSTRY
- SF OCCUPIED
- RENT/SF
- LEASE TYPE
- LEASE END
- Department of Workforce Developemnt
- Professional, Scientific, and Technical Services
- 892 SF
- $16.33
- Full Service
- Dec 2027
- Social Security Office
- Public Administration
- 5,064 SF
- $25.43
- Full Service
- Jul 2033
| TENANT | INDUSTRY | SF OCCUPIED | RENT/SF | LEASE TYPE | LEASE END | |
| Department of Workforce Developemnt | Professional, Scientific, and Technical Services | 892 SF | $16.33 | Full Service | Dec 2027 | |
| Social Security Office | Public Administration | 5,064 SF | $25.43 | Full Service | Jul 2033 |
SPACE AVAILABILITY
- SPACE
- SIZE
- SPACE USE
- CONDITION
- AVAILABLE
Well laid out office space located in the City of Portage near the highway and business district. Other Tenants include Social Security and Wisconsin Department of Administration
| Space | Size | Space Use | Condition | Available |
| 1st Fl-Ste A | 1,873 SF | Office | Full Build-Out | Now |
1st Fl-Ste A
| Size |
| 1,873 SF |
| Space Use |
| Office |
| Condition |
| Full Build-Out |
| Available |
| Now |
1 of 5
VIDEOS
MATTERPORT 3D EXTERIOR
MATTERPORT 3D TOUR
PHOTOS
STREET VIEW
STREET
MAP
1st Fl-Ste A
| Size | 1,873 SF |
| Space Use | Office |
| Condition | Full Build-Out |
| Available | Now |
Well laid out office space located in the City of Portage near the highway and business district. Other Tenants include Social Security and Wisconsin Department of Administration
1 1
PROPERTY TAXES
| Parcel Number | 11271-3091.06 | Improvements Assessment | $853,100 (2024) |
| Land Assessment | $66,900 (2024) | Total Assessment | $920,000 (2024) |
PROPERTY TAXES
Parcel Number
11271-3091.06
Land Assessment
$66,900 (2024)
Improvements Assessment
$853,100 (2024)
Total Assessment
$920,000 (2024)
1 of 10
VIDEOS
MATTERPORT 3D EXTERIOR
MATTERPORT 3D TOUR
PHOTOS
STREET VIEW
STREET
MAP
1 of 1
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2875 Village Rd
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