Split Flex Warehouse with Overhead
For Sale
$399,000
11-3929 County Road Kw, Port Washington, WI 53074
Flex warehouse space with two overhead doors, split-possible layout, and underfloor plumbing roughed in.
Property Size5,000 SF
Price / SF$79.80
Days on Market344
Property Features for 11-3929 County Road Kw
General Information
Standard status
Active
Size
5,000 SF
Listing Agency:
RE/MAX United - Port Washington
(262) 284-2000
Listed By:
Owen Didier · License #8430994
(414) 881-3293
Source:
Exprealty
Added: Sep 30, 2025
Changed: Aug 31
Last Checked: Sep 8 at 6:51AM
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 RE/MAX United - Port Washington
Investment Insights
Based on property information with market context.
A 50-by-100 business barn configured as a flex/warehouse space that can be split in half for separate use or leasing. Unit #11 features two separate overhead doors and entries, offering practical flexibility for loading, access, and independent operations. The space includes plumbing roughed in for two bathrooms and two utility rooms, along with a 200 amp service, floor drain, and underfloor plumbing roughed in.
Offered as a shell, the property does not include heat, drywall, or completed bathrooms or related finishes. The shell condition is intended for an end user or tenant to complete improvements to suit their specific build-out needs.
This unit can be used as one continuous space or divided, depending on the operational requirements of the buyer or tenant plan.
Offered as a shell, the property does not include heat, drywall, or completed bathrooms or related finishes. The shell condition is intended for an end user or tenant to complete improvements to suit their specific build-out needs.
This unit can be used as one continuous space or divided, depending on the operational requirements of the buyer or tenant plan.
Key Highlights
- 50x100 business barn with 5,000 sq ft that can be used all together or split in half for separate occupancy and potential rental
- Unit #11 features 2 separate overhead doors and 2 separate entries
- Plumbing is roughed in for 2 bathrooms and 2 utility rooms in Unit #11
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
$22,085
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
5.54%
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%
$441,700
$441.7K
Cap Rate 7%
$315,500
$315.5K
Cap Rate 9%
$245,389
$245.4K
Market Conditions
NOI Build-Up for 5,000 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
$27.4K $5.47/SF
− Vacancy
−$1.4K −$0.27/SF
EGI
$26.0K $5.20/SF
− OpEx
−$3.9K −$0.78/SF
NOI
$22.1K $4.42/SF
Area
Ozaukee County, WI
Vacancy
5.00%
Lease Rate
$5.47 /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%
$441,700
Cap Rate 7%
$315,500
Cap Rate 9%
$245,389
Alternative Uses
Best Use
Warehouse
$315.5K
$276.1K – $368.1K
NOI $22,085 @ 7.0% cap · market cap 5.54%
Second Best
Industrial
$260.1K
$227.6K – $303.5K
NOI $18,207 @ 7.0% cap · market cap 4.56%
Theoretical Best
Office A
$1.18M
$1.03M – $1.37M
NOI $82,464 @ 7.0% cap · market cap 20.67%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
73
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 53074, WI
13,379
Population
5,859
Households
2.3
Avg Household Size
42
Median Age
36%
College-Educated
96%
High-School Grad
30.3 sq mi
ZIP Area
442
Density / Sq Mi
$78,944
Median Household Income
$48,089
Median Earnings
$1,024
Median Rent
$276,200
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.
Frequently Asked Questions
What type of property is this?
Flex space - Flex warehouse space with two overhead doors, split-possible layout, and underfloor plumbing roughed in.
Where is this flex space located?
The property is located at 11-3929 County Road Kw Port Washington, WI.
What is the asking price?
The asking price for this property is $399,000.
What are key features of this property?
This property features: 50x100 business barn with 5,000 sq ft that can be used all together or split in half for separate occupancy and potential rental; Unit #11 features 2 separate overhead doors and 2 separate entries; Plumbing is roughed in for 2 bathrooms and 2 utility rooms in Unit #11
