1913 Melvin Ave, Racine, WI
100% occupied industrial property with lease in place until 2026.
- Added:
- Nov 19, 2024
- Days on Market:
- 572
- Last Refresh:
- May 20 at 8:29 pm
Property Features for 1913 Melvin Ave
General Information
- Standard status
- Active
- Size
- 5,757 SF
- Lot size
- 1.77 Acres
- Property subtype
- INDUSTRIAL
Listing agent Stephen Styza (414) 573-1414
Listing office Cushman & Wakefield | Boerke (414) 347-1000
Listing date Nov 19, 2024
Source Moodyscre
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 Cushman & Wakefield | Boerke
HighLights
- 100% occupied industrial property.
- Net leased to Cardinal Express Logistics.
- Lease in place through October 31, 2026.
- Rare net leased truck repair building.
- Trailer parking available.
- 3% annual rent increases.
Overview
Local Financial Insights For Warehouse
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $44.9k | $7.80 |
| − Vacancy | −$4.9k | −$0.86 |
| EGI | $40.0k | $6.94 |
| − OpEx | −$6.0k | −$1.04 |
| NOI | $34.0k | $5.90 |
Alternative Uses
Current Use by Public Records
Location Insight
- Map
- Local Demand
- City
- Racine
- County
- Racine
- State
- Wisconsin
- Longitude
- -87.8055
- Latitude
- 42.755
