Listed by Colliers - Milwaukee, Wisconsin
$3,100,000
3605 Stewart Avenue
Details
APN 291-2907-332-0969
Property Type Office, Industrial
Sub Type Medical Office
Square Footage 30,800
Tenancy Vacant
Price per SqFt $101
Year Built 2003 / 2004
Stories 2
Acreage 2.830
Zoning SO - Suburban Office
Parking Spaces 150 spaces
Parking Per SqFt 4.87
Investment Type Value Add
Office | 30,800 SqFt
Marketing description
3605 Stewart Avenue presents a compelling value-add medical office/institutional asset in Wausau's primary healthcare and professional corridor. The ±30,800 SF, two-story flex building sits on 2.83 acres with strong visibility along Stewart Avenue and is positioned to benefit from sustained demand for outpatient medical, clinic, and professional office users.
The offering is currently vacant, creating a clear lease-up opportunity for investors or owner-users to acquire at a basis well below replacement cost and execute a multi-tenant or single-tenant strategy. With favorable SO zoning, ample parking, and a modern (2003/2004) construction profile relative to the market, the property offers flexibility and long-term usability.
Investment highlights
- Strategic Medical Corridor Location - Situated along Stewart Avenue within Wausau's primary medical and professional services corridor
- Scale & Flexibility – ±30,800 SF two-story building supports multi-tenant or single-user configuration
- Strong Site Characteristics – 2.83-acre site with 150+ parking spaces, exceeding typical medical office parking ratios
- Zoning & Use Flexibility – SO (Suburban Office) zoning allows medical, office, and professional service uses
- Lease-Up Upside – Market rents estimated ~$15/SF NNN with projected NOI of ~$462,000 at stabilization
- Modern Construction – Built in 2003/2004, offering more contemporary systems vs. older competitive inventory
- Parking & Access Advantage – High parking count and convenient regional access appeal to outpatient and clinic users
- Below Replacement Cost Entry – Acquisition basis well below estimated replacement cost supports downside protection
- Multiple Exit Strategies – Suitable for investor lease-up, medical owner-user occupancy, or stabilized disposition
Listing Contacts
Listed by Colliers - Milwaukee, Wisconsin
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