Riverfront Office Center
This feature is unavailable at the moment.
We apologize, but the feature you are trying to access is currently unavailable. We are aware of this issue and our team is working hard to resolve the matter.
Please check back in a few minutes. We apologize for the inconvenience.
- LoopNet Team
thank you
Your email has been sent!
Riverfront Office Center
2 Office Properties Offered at £4,381,720 in Sheboygan, WI
Investment Highlights
- Unique opportunity in downtown Sheboygan to purchase a multi-tenant office complex below replacement cost with a year one double-digit cash returns.
Executive Summary
The Riverfront Office Center is strategically located just south of charming Downtown Sheboygan and is situated along the Sheboygan River with views of beautiful Lake Michigan. The property is in walking distance to several dining options and is located near several new apartment developments. With 23 tenants, this opportunity offers an investor the opportunity to spread the lease roll risk across many tenants. Additionally the property features a nice mix of credit tenants including Midwest Dental and CIBM Bank. With the current average rents below $14/SF Gross the investor has the opportunity to increase returns and property value by raising rents to market levels.
Taxes & Operating Expenses (Actual - 2020) |
Annual |
|---|---|
| Gross Rental Income |
£466,340
|
| Other Income |
-
|
| Vacancy Loss |
-
|
| Effective Gross Income |
£466,340
|
| Taxes |
£44,901
|
| Operating Expenses |
£83,138
|
| Total Expenses |
£128,039
|
| Net Operating Income |
£338,301
|
Taxes & Operating Expenses (Actual - 2020)
| Gross Rental Income | |
|---|---|
| Annual | £466,340 |
| Other Income | |
|---|---|
| Annual | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Effective Gross Income | |
|---|---|
| Annual | £466,340 |
| Taxes | |
|---|---|
| Annual | £44,901 |
| Operating Expenses | |
|---|---|
| Annual | £83,138 |
| Total Expenses | |
|---|---|
| Annual | £128,039 |
| Net Operating Income | |
|---|---|
| Annual | £338,301 |
Property Facts
| Price | £4,381,720 | Number of Properties | 2 |
| Price / SF | £93.30 / SF | Individually For Sale | 0 |
| Net Initial Yield | 8.46% | Total Building Size | 46,963 SF |
| Sale Type | Investment | Total Land Area | 2.52 AC |
| Status | Active |
| Price | £4,381,720 |
| Price / SF | £93.30 / SF |
| Net Initial Yield | 8.46% |
| Sale Type | Investment |
| Status | Active |
| Number of Properties | 2 |
| Individually For Sale | 0 |
| Total Building Size | 46,963 SF |
| Total Land Area | 2.52 AC |
Properties
| Property Name / Address | Property Type | Size | Year Built | Individual Price |
|---|---|---|---|---|
| 610 Riverfront Dr, Sheboygan, WI 53081 | Office | 16,000 SF | 1989 | - |
|
Riverfront Office Center
615 S 8th St, Sheboygan, WI 53081 |
Office | 30,963 SF | 1989 | - |
1 of 5
VIDEOS
3D TOUR
PHOTOS
STREET VIEW
STREET
MAP
Presented by
Dr Toby Watson
Riverfront Office Center
Already a member? Log In
Hmm, there seems to have been an error sending your message. Please try again.
Thanks! Your message was sent.