Airport Industrial Warehouse with Drive-Through
For Sale
$2,200,000
2974 Airport Rd, La Crosse, WI 54603
N, La Crosse, WI
Property Size16,000 SF
Lot Size1.50 Acres
Price / SF$136.82
Days on Market75
Property Features for 2974 Airport Rd
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
Comm
Directions
From Exit 2 on Hwy 90 West take the Off Ramp to Bainbridge Road, Right onto Airport Road just behind the La Crosse Regional Airport Terminal.
Standard status
Active
APN
017010530195
Size
16,080 SF
Lot size
1.50 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
2800
Building Details
Year built
2000
Architectural style
Other
Listing Agency:
Gerrard-Hoeschler, REALTORS
(608) 782-2300
Listed By:
Brian McCarty · License #80000-94
(608) 792-8451
Added: Jun 17
Changed: Aug 19
Last Checked: Aug 30 at 2:06AM
MLS# 1968027
Copyright © 2026 Metro MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
Built in 2000, this warehouse property occupies 1.5 acres within La Crosse’s Airport Industrial Park. The building includes four 14-foot overhead doors arranged to support drive-through warehouse access. Municipal and federal airport zoning laws, along with protective covenants, apply to the property.
The park encompasses 95 acres and includes 21 lots with manufacturing facilities, operational hubs, and regional shipping facilities. The property is located at 2974 Airport Rd in La Crosse, Wisconsin.
The park encompasses 95 acres and includes 21 lots with manufacturing facilities, operational hubs, and regional shipping facilities. The property is located at 2974 Airport Rd in La Crosse, Wisconsin.
Key Highlights
- Four 14‑foot overhead doors provide drive‑through warehouse access
- 1.5‑acre site in La Crosse’s Airport Industrial Park
- Built in 2000
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$120,762
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
5.49%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,415,240
$2.4M
Cap Rate 7%
$1,725,171
$1.7M
Cap Rate 9%
$1,341,800
$1.3M
Market Conditions
NOI Build-Up for 16,080 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$152.4K $9.48/SF
− Vacancy
−$10.4K −$0.64/SF
EGI
$142.1K $8.84/SF
− OpEx
−$21.3K −$1.33/SF
NOI
$120.8K $7.51/SF
Area
La Crosse County, WI
Vacancy
6.80%
Lease Rate
$9.48 /SF/Yr
Expense Ratio
15.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,415,240
Cap Rate 7%
$1,725,171
Cap Rate 9%
$1,341,800
Alternative Uses
Best Use
Warehouse
$1.73M
$1.51M – $2.01M
NOI $120,762 @ 7.0% cap · market cap 5.49%
Second Best
Industrial
$1.42M
$1.24M – $1.66M
NOI $99,451 @ 7.0% cap · market cap 4.52%
Theoretical Best
Specialty Retail
$3.52M
$3.08M – $4.10M
NOI $246,169 @ 7.0% cap · market cap 11.19%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Drive-in doors
Location Intelligence
Trade Area within ½ mile
128
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 54603, WI
14,203
Population
7,168
Households
2
Avg Household Size
39
Median Age
21%
College-Educated
92%
High-School Grad
8.9 sq mi
ZIP Area
1,596
Density / Sq Mi
$49,693
Median Household Income
$37,917
Median Earnings
$936
Median Rent
$175,500
Median Home Value
Market
Vacancy Rate% for Industrial in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Galaxy Self-Storage — 2620 Fanta Reed Rd, La Crosse, WI 54603
- Pack N Pay — 3007 Lakeshore Dr, La Crosse, WI 54603
- Island Park Self Storage — Breezy Point Rd, La Crosse, WI 54603
Frequently Asked Questions
What type of property is this?
Warehouse - Warehouse facility with multiple overhead doors in La Crosse’s Airport Industrial Park.
Where is this warehouse located?
The property is located at 2974 Airport Rd La Crosse, WI.
What is the asking price?
The asking price for this property is $2,200,000.
What are key features of this property?
This property features: Four 14‑foot overhead doors provide drive‑through warehouse access; 1.5‑acre site in La Crosse’s Airport Industrial Park; Built in 2000
