Waukesha Office/Flex/Industrial
For Sale
Contact for pricing
23255 Paul Rd, Pewaukee, WI
Well-maintained office facility convertible to flex or industrial space.
Property Size55,940 SF
Lot Size4.83 Acres
Price / SF$88.93
Days on Market560
Property Features for 23255 Paul Rd
General Information
Standard status
Active
Size
55,940 SF
Lot size
4.83 Acres
Property subtype
OFFICE
Lease Type
NNN
Properties For Sale
at 23255 Paul Rd
N25W23255 Paul Rd.
AVAILABLE, Now
Floor
1
Size
55,940 SF
Type
OFFICE
Lease Type
NNN
Sublease
No
- Well maintained office facility
- Can be converted to flex and/or industrial
- 1 Overhead Door and 1 Depressed Dock Door
- Located within the Pewaukee Business Center
- Great access (1 mile) to I-94
- Conveniently located near retail, restaurant, and hospitality amenities
Contact us
Listing Agency:
Bear Development
(262) 697-9616
Listed By:
Craig Bartsch
(414) 758-3032
Source:
Moodyscre
Added: Apr 18, 2025
Changed: Oct 25
Last Checked: Oct 28 at 12:20PM
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 Bear Development
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This well-maintained office facility, located within the Pewaukee Business Center, offers the potential for conversion to flex and/or industrial use. The property features one overhead door and one depressed dock door. It benefits from convenient access to I-94, located just one mile away. Additionally, the location provides convenient proximity to retail, restaurant, and hospitality amenities. The property encompasses a total area of 55,940 square feet.
Key Highlights
- Great access (1 mile) to I‑94
- Can be converted to flex and/or industrial
- Located within the Pewaukee Business Center
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$203,699
Cap Rate
4.09%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$4,073,980
$4.1M
Cap Rate 7%
$2,909,986
$2.9M
Cap Rate 9%
$2,263,322
$2.3M
Market Conditions
NOI Build-Up for 55,940 SF
Gross rent
$306.0K $5.47/SF
− Vacancy
−$15.0K −$0.27/SF
EGI
$291.0K $5.20/SF
− OpEx
−$87.3K −$1.56/SF
NOI
$203.7K $3.64/SF
Area
Waukesha County, WI
Vacancy
4.90%
Lease Rate
$5.47 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$4,073,980
Cap Rate 7%
$2,909,986
Cap Rate 9%
$2,263,322
Alternative Uses
Best Use
Flex RnD
$28.55M
$24.98M – $33.31M
NOI $1,998,510 @ 7.0% cap · market cap 40.17%
Second Best
Office B
$11.09M
$9.71M – $12.94M
NOI $776,619 @ 7.0% cap · market cap 15.61%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
39
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Office in Midwest region
Frequently Asked Questions
What type of property is this?
Flex space - Well-maintained office facility convertible to flex or industrial space.
Where is this flex space located?
The property is located at 23255 Paul Rd Pewaukee, WI.
What is the asking price?
The asking price for this property is $4,975,000.
What are key features of this property?
This property features: Great access (1 mile) to I‑94; Can be converted to flex and/or industrial; Located within the Pewaukee Business Center
