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Former Assisted Living for Adaptive Reuse 123 S Pearl St 20,336 SF Healthcare Building Online Auction Sale Berlin, WI 54923
Matterport 3D Tour
Investment Highlights
- Versatile former assisted living facility offering 25 units and the potential for adaptive reuse as multifamily or wellness space.
- Equipped with a full wet sprinkler system, ample on-site parking, and large windows that fill spaces with rich natural lighting.
- Opportunity Zone designation presents attractive capital gains tax incentives and long-term redevelopment potential.
- Fully renovated in 2019, the 20,336-square-foot property features large windows and a classic brick façade, offering attractive curb appeal.
- Prime location in Downtown Berlin ensures excellent visibility with over 11,000 vehicles passing daily (VPD) at a prominent corner.
- Robust local demographics support strong demand, with over $221 million in annual consumer spending within 10 miles.
Executive Summary
Discover an exceptional investment opportunity in the heart of Downtown Berlin, Wisconsin, with the versatile former assisted living facility at 123 S Pearl Street. Offering 25 units with value-add growth and redevelopment opportunities, this rare offer presents a highly adaptable acquisition for savvy investors.
The property, originally built on a 0.38-acre lot in 1995 and fully renovated in 2019, spans a total of 20,336 square feet. It includes a well-maintained, classic brick façade that is well-known in the downtown area, offering enhanced recognition for new business ventures. The building is served by a full wet sprinkler system, ample parking, and large windows that fill spaces with rich natural lighting, creating a warm and inviting environment.
123 S Pearl Street enjoys a prominent corner location with exceptional visibility in Berlin’s downtown core, delivering direct exposure to more than 11,000 daily vehicles. Pearl Street serves as the area’s primary east-west corridor, connecting to Oshkosh and Interstate 41 in less than 30 minutes and providing convenient access options for regional clients and staff. The site is ideally positioned within Berlin’s designated Opportunity Zone, generating additional long-term growth potential through redevelopment or conversion, with attractive potential capital gains tax incentives. Beyond assisted living, the property provides elevated potential for adaptive reuse as multifamily housing or a medical/wellness facility.
Berlin provides the new owner of 123 S Pearl Street with access to a valuable captive audience when looking within 10 miles of the property. The area is home to a population of more than 18,000 with an average household income exceeding $76,000 and consumer spending that totals over $221 million annually. With more than $34 million in spending on household segments and over $12 million on healthcare, this vibrant market delivers strong support for assisted living, multifamily, and wellness industries.
Don’t miss out on this incredible opportunity that combines functionality, convenience, and both short- and long-term growth potential at 123 S Pearl Street.
Property tours are by appointment only. Please contact the listing broker to schedule.
The property, originally built on a 0.38-acre lot in 1995 and fully renovated in 2019, spans a total of 20,336 square feet. It includes a well-maintained, classic brick façade that is well-known in the downtown area, offering enhanced recognition for new business ventures. The building is served by a full wet sprinkler system, ample parking, and large windows that fill spaces with rich natural lighting, creating a warm and inviting environment.
123 S Pearl Street enjoys a prominent corner location with exceptional visibility in Berlin’s downtown core, delivering direct exposure to more than 11,000 daily vehicles. Pearl Street serves as the area’s primary east-west corridor, connecting to Oshkosh and Interstate 41 in less than 30 minutes and providing convenient access options for regional clients and staff. The site is ideally positioned within Berlin’s designated Opportunity Zone, generating additional long-term growth potential through redevelopment or conversion, with attractive potential capital gains tax incentives. Beyond assisted living, the property provides elevated potential for adaptive reuse as multifamily housing or a medical/wellness facility.
Berlin provides the new owner of 123 S Pearl Street with access to a valuable captive audience when looking within 10 miles of the property. The area is home to a population of more than 18,000 with an average household income exceeding $76,000 and consumer spending that totals over $221 million annually. With more than $34 million in spending on household segments and over $12 million on healthcare, this vibrant market delivers strong support for assisted living, multifamily, and wellness industries.
Don’t miss out on this incredible opportunity that combines functionality, convenience, and both short- and long-term growth potential at 123 S Pearl Street.
Property tours are by appointment only. Please contact the listing broker to schedule.
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- Operating and Financials
- Purchase Agreement
Property Facts
| Sale Type | Investment | Building Size | 20,336 SF |
| Sale Condition | Auction Sale | No. Beds | 25 |
| Type of Ownership | Fee Simple | No. Stories | 3 |
| Property Type | Health Care | Year Built/Renovated | 1995/2019 |
| Property Subtype | Assisted Living | Opportunity Zone |
Yes
|
| Lot Size | 0.38 AC | Parcel Number | 206001730000 |
| Sale Type | Investment |
| Sale Condition | Auction Sale |
| Type of Ownership | Fee Simple |
| Property Type | Health Care |
| Property Subtype | Assisted Living |
| Lot Size | 0.38 AC |
| Building Size | 20,336 SF |
| No. Beds | 25 |
| No. Stories | 3 |
| Year Built/Renovated | 1995/2019 |
| Opportunity Zone |
Yes |
| Parcel Number | 206001730000 |
Walk Score®
Very Walkable (76)
Sale Advisor
Sale Advisor
Bob Richards, VP of Brokerage Services
Bob Richards joined Senior Care Realty in the fall of 2009 as a Sales Associate. Over the years Bob has been extremely successful helping facilitate numerous Seniors Housing transactions between Owner-Operators and Investors in multiple states. Bob is a licensed Broker in both Wisconsin and Minnesota. In January of 2021, Bob was promoted to VP of Brokerage Services and is now helping other members of the team reach their goals. Bob is a graduate of the University of Iowa where he received a bachelor’s degree in Business Administration and was a member of the golf team.
About the Auction Technology
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Auction Contact
Sophy Cardenas
Contact
Auctioneer License:
Ten-X, LLC Arlene Richardson RE Brkr 937838-91 Ten-X Auction Firm 481-53 Samantha Corbat Auctioneer 4028-52
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Videos
Matterport 3D Exterior
Matterport 3D Tour
Photos
Street View
Street
Map
3% Transaction Fee
Based on Winning Bid Amount
Minimum Transaction Fee
$20,000 USD
Maximum Transaction Fee
$300,000 USD
Example Calculation
Winning Bid Amount
$5,000,000 USD
Transaction Fee
$150,000 USD (3%)
Total Purchase Price
$5,150,000 USD
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Former Assisted Living for Adaptive Reuse | 123 S Pearl St
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