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3605 Stewart Ave 30,800 SF 100% Leased Office Building Wausau, WI 54401 $3,100,000 ($100.65/SF)
Investment Highlights
- Strategic Medical Corridor Location Situated along Stewart Avenue within Wausau’s primary medical and professional services corridor
- Strong Site Characteristics – 2.83-acre site with 150+ parking spaces, exceeding typical medical office parking ratios
- Lease-Up Upside – Market rents estimated ~$15/SF NNN with projected NOI of ~$462,000 at stabilization
- Scale & Flexibility – ±30,800 SF two-story building supports multi-tenant or single user configuration
- Zoning & Use Flexibility – SO (Suburban Office) zoning allows medical, office, and professional service uses
- Modern Construction – Built in 2003/2004, offering more contemporary systems vs. older competitive inventory
Executive Summary
3605 Stewart Avenue presents a compelling value-add medical office/institutional asset in Wausau’s primary healthcare and professional corridor. The ±30,800 SF, two-story flex building sits on 2.83 acres with strong visibility along Stewart Avenue and is positioned to benefit from sustained demand for outpatient medical, clinic, and professional office users.
The offering is currently vacant, creating a clear lease-up opportunity for investors or owner-users to acquire at a basis well below replacement cost and execute a multi-tenant or single tenant strategy. With favorable SO zoning, ample parking, and a modern (2003/2004) construction profile relative to the market, the property offers flexibility and long-term usability.
The offering is currently vacant, creating a clear lease-up opportunity for investors or owner-users to acquire at a basis well below replacement cost and execute a multi-tenant or single tenant strategy. With favorable SO zoning, ample parking, and a modern (2003/2004) construction profile relative to the market, the property offers flexibility and long-term usability.
Property Facts
Sale Type
Investment or Owner User
Property Type
Office
Property Subtype
Medical
Building Size
30,800 SF
Building Class
C
Year Built
2004
Price
$3,100,000
Price Per SF
$100.65
Percent Leased
100%
Building Height
2 Stories
Typical Floor Size
15,400 SF
Building FAR
0.25
Lot Size
2.83 AC
Zoning
SO - Suburban Office
Parking
150 Spaces
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Fairly walkable
40/100
Exceptionally drivable
100/100
Limited public transit
30/100
Fairly bikeable
40/100
Property Taxes
| Parcel Number | 291-2907-332-0969 | Improvements Assessment | $4,829,900 |
| Land Assessment | $1,085,100 | Total Assessment | $5,915,000 |
Property Taxes
Parcel Number
291-2907-332-0969
Land Assessment
$1,085,100
Improvements Assessment
$4,829,900
Total Assessment
$5,915,000
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3605 Stewart Ave
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