118 3Rd StAshland, WI 54806

This exceptional Class A office building, located at 118 3rd St E in Ashland, WI, presents a compelling investment opportunity. Boasting 14,400 square feet of net rentable space in a single, 100% occupied unit, the property offers a strong NOI of $150,792 and a compelling 12.58% cap rate. Built in 2000 and extensively renovated in 2019, the building features 86 parking spaces, key card access, a standby generator, and full handicap accessibility. The interior comprises over 6,000 square feet of flexible open space, 12 private offices, two conference rooms, two server rooms, two mechanical rooms, a mother's room, a lounge, and two phone rooms. Situated on a 1.4-acre lot on a highly trafficked state highway, this property benefits from its proximity to Lake Superior and the Ashland marina, enjoying over 6,000 average daily vehicle counts. The current lease is a NNN, single-tenant agreement expiring December 31, 2024. Modern amenities include fiber optic internet and upgraded electrical systems. The asking price is $1,199,000, reflecting a price per square foot of $83.26. This is a rare opportunity to acquire a high-quality, well-maintained office building in a desirable location with significant upside potential.