Multi-Tenant Warehouse with Outdoor
For Sale
$1,699,000
1111 S West Ave, Waukesha, WI 53186
Industrial property with M2 zoning, multiple tenant spaces, and both dock and drive-in loading access.
Property Size28,000 SF
Lot Size2.00 Acres
Days on Market240
Property Features for 1111 S West Ave
General Information
Standard status
Active
Size
28,000 SF
Class
C
Lot size
2.00 Acres
Property subtype
Multi Tenant Office
Zoning
M2
Warehouse & Industrial
Dock-High Doors
1
Drive-In Doors
15
Additional Details
Cap Rate
9.6%
Outdoor Storage
Yes
Building Details
Building Size
28,000 SF
Year Built
1965
Tenancy
Multi
Listing Agency:
Anderson Commercial Group
Listed By:
Steve Anderson · License #9051327
(414) 858-5200
Source:
Thebrokerlist
Added: Feb 18
Changed: Oct 12
Last Checked: Oct 16 at 5:43AM
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 Anderson Commercial Group
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Investment Insights
Based on property information with market context.
This multi-tenant warehouse property combines industrial building space with outside storage across approximately 2 acres. The site includes one dock door and 15 drive-in doors, providing a range of loading configurations for warehouse operations. Constructed in 1965, the property is positioned on the east side of S West Ave, north of Hoover Ave, in Waukesha, Wisconsin.
The property is currently fully leased and reflects a 9.6% cap rate, with a pro forma cap rate of 11.5%. M2 zoning supports its existing industrial profile, while the acreage and outside storage component add flexibility for future property planning.
The property is currently fully leased and reflects a 9.6% cap rate, with a pro forma cap rate of 11.5%. M2 zoning supports its existing industrial profile, while the acreage and outside storage component add flexibility for future property planning.
Key Highlights
- Multi‑tenant industrial warehouse property with outside storage
- Approximately 2 acres with redevelopment potential
- 1 dock door and 15 drive‑in doors
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$123,677
Cap Rate
7.28%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,473,540
$2.5M
Cap Rate 7%
$1,766,814
$1.8M
Cap Rate 9%
$1,374,189
$1.4M
Market Conditions
NOI Build-Up for 28,000 SF
Gross rent
$153.2K $5.47/SF
− Vacancy
−$7.7K −$0.27/SF
EGI
$145.5K $5.20/SF
− OpEx
−$21.8K −$0.78/SF
NOI
$123.7K $4.42/SF
Area
Waukesha 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 Rate 5%
$2,473,540
Cap Rate 7%
$1,766,814
Cap Rate 9%
$1,374,189
Alternative Uses
Best Use
Warehouse
$1.77M
$1.55M – $2.06M
NOI $123,677 @ 7.0% cap · market cap 7.28%
Second Best
—
—
no second resolved use
Theoretical Best
Flex RnD
$14.29M
$12.50M – $16.67M
NOI $1,000,327 @ 7.0% cap · market cap 58.88%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Open Analytics
Current Use
Lease Details
1
Dock-high doors
15
Drive-in doors
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
524
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 53186, WI
32,332
Population
15,066
Households
2.1
Avg Household Size
38
Median Age
39%
College-Educated
95%
High-School Grad
12.6 sq mi
ZIP Area
2,566
Density / Sq Mi
$74,596
Median Household Income
$42,007
Median Earnings
$1,180
Median Rent
$277,800
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 Industrial in Midwest region
Similar Off Market Nearby
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- Late Model Throttle — 525 Progress Ave Suite B, Waukesha, WI 53186
- StorageMart — S30W24720 W Sunset Dr, Waukesha, WI 53189
- Storage Sense - Waukesha — 120 E Sunset Dr Suite, Waukesha, WI 53189
Frequently Asked Questions
What type of property is this?
Warehouse - Industrial property with M2 zoning, multiple tenant spaces, and both dock and drive-in loading access.
Where is this warehouse located?
The property is located at 1111 S West Ave Waukesha, WI.
What is the asking price?
The asking price for this property is $1,699,000.
What are key features of this property?
This property features: Multi‑tenant industrial warehouse property with outside storage; Approximately 2 acres with redevelopment potential; 1 dock door and 15 drive‑in doors
