118 3rd St E | 118 3rd St E
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118 3rd St E 118 3rd St E
14,844 SF Office Building Ashland, WI 54806 £945,971 (£64/SF) 12.59% Net Initial Yield
Investment Highlights
- 6,000 plus daily vehicle counts
- Turnkey - 3 blocks from Lake Superior
- Class A Office Building
- Rebuilt in 2000 with a total refurbish in 2019
Executive Summary
Class A Office Space on highly traveled State Highway 13 in thriving Ashland, WI three blocks from the marina and the shores of Lake Superior. Over 6,000 average daily vehicle count. Key Card Access. 82 On-Site parking Spaces. Completely Rebuilt in 2000, With a total refurbish in 2019. Full list of amenities available including over 6,000 square feet of flex/open space, 12 private offices, Two conference rooms, two server rooms, two + mechanical rooms, a Mother's Room, a Lounge, and two Phone rooms. The entire property is fully handicapped accessible with a lift between the lower and raised section, fire suppression, fiber optic internet, completely upgraded electrical systems and a newly installed standby backup generator by Generac. Tenant lease runs through 2025
Data Room Click Here to Access
Financial Summary (Actual - 2022) Click Here to Access |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
-
|
-
|
Financial Summary (Actual - 2022) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
Property Facts
Sale Type
Investment or Owner User
Property Type
Building Size
14,844 SF
Building Class
B
Year Built/Renovated
2000/2019
Price
£945,971
Price Per SF
£64
Net Initial Yield
12.59%
NOI
£119,076
Tenancy
Single
Number of Floors
1
Typical Floor Size
14,844 SF
Building FAR
0.24
Land Acres
1.40 AC
Zoning
Office - Office/Commercial
Parking
86 Spaces (5.79 Spaces per 1,000 SF Leased)
Amenities
- 24 Hour Access
- Controlled Access
- Wheelchair Accessible
- Kitchen
- Reception
- Central Heating
- Open-Plan
- Partitioned Offices
- Monument Signage
- Air Conditioning
- Fiber Optic Internet
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Walk Score ®
Very Walkable (78)
Bike Score ®
Very Bikeable (72)
PROPERTY TAXES
| Parcel Number | 201-01685-2000 | Total Assessment | £972,679 (2023) |
| Land Assessment | £97,441 (2023) | Annual Taxes | -£1 (£0.00/sf) |
| Improvements Assessment | £875,238 (2023) | Tax Year | 2022 |
PROPERTY TAXES
Parcel Number
201-01685-2000
Land Assessment
£97,441 (2023)
Improvements Assessment
£875,238 (2023)
Total Assessment
£972,679 (2023)
Annual Taxes
-£1 (£0.00/sf)
Tax Year
2022
-
Kevin Porter -
Porter Realty
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118 3rd St E | 118 3rd St E
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