31 Means DrPlatteville, WI 53818

For Sale
$264,771

Wisconsin Government Office, Excellent NOI

Overview

Added:
Dec 11, 2024
Days on market:
92
This exceptional investment opportunity presents a 2,000 square foot Class C office building situated on a 1.37-acre lot at 31 Means Dr, Platteville, WI 53818. Built in 1996, this single-story building boasts 100% occupancy with a strong net operating income (NOI) of $16,888, yielding a 6.38% cap rate. The asking price is $264,771, translating to $132.39 per square foot. The property features ample parking with 21 spaces and is currently leased under a gross lease structure to a mix of Wisconsin state agencies and other tenants. Leases are primarily five-year terms with options, incorporating escalator clauses. The portfolio's average lease term to maturity, including options, is 26 months (excluding 10 leases currently in the renewal process). This property is ideally suited for 1031 exchange investors and offers the potential for property management services. The property's APN is 271-00930-0115. This is a single-tenant occupancy property.

Highlights

  • Excellent investment opportunity: 2,000 SF Class C office building on 1.37 acres in Platteville, WI.
  • Gross leases with 5-year terms and options; escalator clauses included.
  • Optional property management services available.
  • Tenants include Wisconsin state agencies and other businesses.
  • Leases contain escalator clauses.
  • 1031 exchange eligible.

Property Details for 31 Means Dr

Property type
Government properties, Other office properties
Square Feet
2,000 SF
Class
C
Year Built
1996
Stories
1
Lot Size (sq. ft)
59,677 SF

Location Insight

City
Platteville
County
Grant
State
Wisconsin
Latitude
42.729754
Longitude
-90.448554
31 Means Dr, Platteville, Wisconsin

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31 Means Dr
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