2187 Stevens StRhinelander, WI 54501
- Office properties
- 18,500 SF
Property Details for 2187 Stevens St
- Year built
- 2006
- Lot size
- 3.08 AC
- Property size (Sq ft)
- 18,500 SF
- Property type
- Office properties
- Property subtype
- Government properties
Description
Exceptional investment opportunity in Rhinelander, WI, featuring an 18,500 square foot, single-story Class C government office building situated on a 3.08-acre lot. Built in 2006, this fully occupied property boasts 109 parking spaces and offers a strong 7.75% cap rate with a current NOI of $217,131. The asking price is $2,800,012, translating to $151.35 per square foot. Tenancy is multi-tenant, with a mix of Wisconsin state agencies and non-state affiliated tenants. Leases are gross, structured with 5-year terms and options, and include escalator clauses. The portfolio average lease term to maturity (including options) is 26 months, excluding 10 leases currently in the renewal process. This property is well-suited for 1031 exchange investors and offers optional property management services. The property is located at 2187 N Stevens St, Rhinelander, WI 54501, in Oneida County. The property's long history and stable tenancy make it a compelling investment prospect.
Location Insight
- City
- Rhinelander
- County
- Oneida
- State
- Wisconsin
- Latitude
- 45.6613
- Longitude
- -89.3774
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
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