Flex Space with Warehouse
For Sale
$499,900
103 Leonard St N, West Salem, WI 54669
Office and warehouse configuration with interior and fenced outdoor parking.
Property Size4,200 SF
Price / SF$119.02
Days on Market70
Property Features for 103 Leonard St N
General Information
Standard status
Active
Size
4,200 SF
Total Parking Spaces
6
Site & Location
Highway Access
Yes
Fenced Yard
Yes
Warehouse & Industrial
Warehouse Space
3,500 SF
Office Build-Out
700 SF
Taxes and HOA fees
Annual Taxes
$3,676
Listing Agency:
eXp Realty LLC
Listed By:
Josh Neumann
(608) 385-5548
Source:
Exprealty
Added: Aug 8
Changed: Oct 11
Last Checked: Oct 15 at 4:17AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of eXp Realty LLC
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Investment Insights
Based on property information with market context.
This 4,200-square-foot flex property combines approximately 700 square feet of office space with 3,500 square feet dedicated to garage and warehouse functions. The current configuration supports contractor office and storage operations, while the space has also been identified for potential conversion to retail, restaurant, distribution, or manufacturing use.
Parking includes capacity for up to 6 vehicles inside, along with additional fenced outdoor parking. The property is situated at 103 Leonard St N in downtown West Salem’s commercial district, with access just off the interstate.
Parking includes capacity for up to 6 vehicles inside, along with additional fenced outdoor parking. The property is situated at 103 Leonard St N in downtown West Salem’s commercial district, with access just off the interstate.
Key Highlights
- 4,200‑square‑foot flex property with office, garage, and warehouse areas
- Approximately 700 square feet of office space
- 3,500 square feet of garage and warehousing space
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$44,226
Cap Rate
8.85%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$884,520
$884.5K
Cap Rate 7%
$631,800
$631.8K
Cap Rate 9%
$491,400
$491.4K
Market Conditions
NOI Build-Up for 4,200 SF
Gross rent
$75.6K $18.00/SF
− Vacancy
−$16.6K −$3.96/SF
EGI
$59.0K $14.04/SF
− OpEx
−$14.7K −$3.51/SF
NOI
$44.2K $10.53/SF
Area
La Crosse County, WI
Vacancy
22.00%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$884,520
Cap Rate 7%
$631,800
Cap Rate 9%
$491,400
Alternative Uses
Best Use
Flex RnD
$696.4K
$609.3K – $812.5K
NOI $48,747 @ 7.0% cap · market cap 9.75%
Second Best
Office B
$631.8K
$552.8K – $737.1K
NOI $44,226 @ 7.0% cap · market cap 8.85%
Theoretical Best
Specialty Retail
$918.5K
$803.7K – $1.07M
NOI $64,298 @ 7.0% cap · market cap 12.86%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Lease Details
Yes
Fenced yard
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
302
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 54669, WI
8,094
Population
3,246
Households
2.5
Avg Household Size
42
Median Age
42%
College-Educated
98%
High-School Grad
51.6 sq mi
ZIP Area
157
Density / Sq Mi
$100,214
Median Household Income
$47,884
Median Earnings
$1,156
Median Rent
$288,600
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in Midwest region
Similar Off Market Nearby
- Big Boar Barbecue and Catering — 510 Commerce St, West Salem, WI 54669
Frequently Asked Questions
What type of property is this?
Flex space - Office and warehouse configuration with interior and fenced outdoor parking.
Where is this flex space located?
The property is located at 103 Leonard St N West Salem, WI.
What is the asking price?
The asking price for this property is $499,900.
What are key features of this property?
This property features: 4,200‑square‑foot flex property with office, garage, and warehouse areas; Approximately 700 square feet of office space; 3,500 square feet of garage and warehousing space
