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    Walworth Industrial Space For Sale Title is generated by Realmo AI

    115 N Howard St, Walworth, WI 53184

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    For Sale
    $650,000

    13,235 SF industrial space on 1.09 acres.

    Type:Warehouse
    Property size:
    13,235 SF
    Lot size:
    1.09 Acres
    Price / SF:
    $49/SF
    Added:
    Apr 3, 2026
    Days on Market:
    66
    Last Refresh:
    Apr 3 at 5:41 am

    Property Features for 115 N Howard St

    General Information

    Standard status
    Active
    Size
    13,235 SF
    Lot size
    1.09 Acres
    Property subtype
    Warehouse

    Building Details

    Year Built
    1973

    We can help!

    Listing Contact
    Alexander Zlotnik
    Alexander Zlotnik

    Listing agent Alexander Zlotnik License #IL: 475212760

    Listing office Chicago Downtown Office

    Listing date Apr 3, 2026

    Source Marcusmillichap

    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 Chicago Downtown Office

    HighLights

    • Vacant property ideal for owner‑use or value‑add investment, potentially divisible into three or more units.
    • Pro‑forma 9.4 percent return with potential annual net operating income of approximately $75,000.
    • Located in Walworth West submarket with a low 1.0 percent vacancy rate.
    • Features seven grade‑level doors, 13’ clear height, masonry construction, and 24 parking spaces.
    • Ample industrial outdoor storage space due to a low building coverage ratio of 28 percent.
    • Conveniently located near U.S. Highway 14 and the HarvardMetra Station.

    Overview

    Located at 115 Howard Street in Walworth, Wisconsin, this property features approximately 13,235 square feet of shallow-bay industrial space on 1.09 acres. The property includes seven grade-level doors, a 13-foot clear height, and masonry construction. There are 24 parking spaces available. The building coverage ratio is 28 percent, providing ample industrial outdoor storage space. Situated just off U.S. Highway 14, with connections to Interstate 43, the property is 57 miles southwest of Port Milwaukee. The HarvardMetra Station, about 8 miles south, offers direct commuter access to Downtown Chicago. The property is for sale as vacant, suitable for owner-use or as a value-add investment. It can be divided into three or more units. The property is located in the Walworth West submarket, which contains 9.8 million square feet of industrial space. The submarket experienced little activity in 2025, with less than 90,000 square feet vacated on net and just 10,000 square feet of deliveries. The Walworth West submarket had a 1.0 percent vacancy rate late in Q4. Annual rent growth in the submarket was essentially flat at 0.4 percent during Q4, keeping the average asking rent at roughly $7.30 per square foot.
    Location Intelligence

    Current Use by Public Records

    Warehouses

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Gym & Fitness Center Building Supply Pharmacy

    Zoning and permitted uses should be independently verified with local authorities.

    Similar Places Nearby

    • A-Mini Storage — w5814 kenosha st, walworth, wi 53184
    • Big Foot Storage — N, 1335 Town Hall Rd, Walworth, WI 53184
    • Big Foot Storage — n1356 us-14, walworth, wi 53184

    Location Insight

    • Map
    • Local Demand
    City
    Walworth
    County
    Walworth
    State
    Wisconsin
    Longitude
    -88.5989007
    Latitude
    42.5340479

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    FAQs

    What type of property is this?
    Warehouse - 13,235 SF industrial space on 1.09 acres.
    Where is this warehouse located?
    The property is located at 115 N Howard St Walworth, WI.
    What is the asking price?
    The asking price for this property is $650,000.
    What are key features of this property?
    This property features: Vacant property ideal for owner‑use or value‑add investment, potentially divisible into three or more units.; Pro‑forma 9.4 percent return with potential annual net operating income of approximately $75,000.; Located in Walworth West submarket with a low 1.0 percent vacancy rate.
    (312) 327-5499
    We can help!
    Listing Contact
    Alexander Zlotnik
    Alexander Zlotnik
    Real Estate License ID: IL: 475212760
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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