Single-Tenant Industrial Flex
For Sale
$595,000
N59W14283 Bobolink Ave, Menomonee Falls, WI 53051
A 100% leased industrial flex building with renovated office space and four drive-in doors.
Property Size5,000 SF
Lot Size1.09 Acres
Price / SF$119
Days on Market9
Property Features for N59W14283 Bobolink Ave
General Information
Standard status
Active
Size
5,000 SF
Lot size
1.09 Acres
Property subtype
Office Warehouse
Occupancy
100%
Site & Location
Highway Access
Yes
Outdoor Storage
Yes
Additional Details
Cap Rate
6.26%
Drive-In Doors
4
Building Details
Year Built
1967
Year Renovated
2025
Tenancy
Single
Listing Agency:
Marcus & Millichap - Milwaukee
(262) 364-1915
Listed By:
Peyton Mueller · License #License(s): WI: 112571-94
(262) 364-1915
Source:
Marcusmillichap
Added: Jul 22
Changed: Jul 23
Last Checked: Jul 30 at 2:24AM
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 Marcus & Millichap - Milwaukee
Investment Insights
Based on property information with market context.
This single-tenant industrial flex building includes approximately 1,000 square feet of newly renovated office space completed in 2025 and roughly 4,000 square feet of warehouse space. The property is situated on 1.09 acres with industrial outdoor storage and features four drive-in doors designed to support efficient truck circulation.
The asset is currently leased on a 100% occupancy basis. The tenant, Wisconsin Home Improvement Co., executed a new three-year lease commencing April 2026.
Rental income is supported by a modified gross lease structure, including annual rent escalations of 12.5% in 2027 and 11% in 2028, resulting in approximately 25% total rent growth over the lease term. The current gross rental income is listed as $49,587 and the property reports Net Operating Income of $37,273.
The asset is currently leased on a 100% occupancy basis. The tenant, Wisconsin Home Improvement Co., executed a new three-year lease commencing April 2026.
Rental income is supported by a modified gross lease structure, including annual rent escalations of 12.5% in 2027 and 11% in 2028, resulting in approximately 25% total rent growth over the lease term. The current gross rental income is listed as $49,587 and the property reports Net Operating Income of $37,273.
Key Highlights
- 5,008 SF single‑tenant industrial asset in Menomonee Falls, WI with 100% occupancy
- Wisconsin Home Improvement Co. lease renewed for a new three‑year term commencing April 2026
- Lease includes rent escalations of 12.5% in 2027 and 11% in 2028 (about 25% total growth over the term)
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 | $27.4k | $5.47 |
| − Vacancy | −$1.4k | −$0.27 |
| EGI | $26.0k | $5.20 |
| − OpEx | −$3.9k | −$0.78 |
| NOI | $22.1k | $4.42 |
5,000 SF · lease $5.47/SF/yr · vacancy 5.00% · expense 15.00%
Alternative Uses
Best Use
Flex RnD
$2.55M
$2.23M – $2.98M
NOI $178,630 @ 7.0% cap · market cap 30.02%
Second Best
Office B
$991.6K
$867.7K – $1.16M
NOI $69,415 @ 7.0% cap · market cap 11.67%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
4
Drive-in doors
100%
Occupancy
Single-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
363
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 53051, WI
38,562
Population
16,972
Households
2.3
Avg Household Size
44
Median Age
49%
College-Educated
96%
High-School Grad
33.3 sq mi
ZIP Area
1,158
Density / Sq Mi
$98,423
Median Household Income
$60,331
Median Earnings
$1,257
Median Rent
$341,700
Median Home Value
Market
Vacancy Rate% for Office in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - A 100% leased industrial flex building with renovated office space and four drive-in doors.
Where is this flex space located?
The property is located at N59W14283 Bobolink Ave Menomonee Falls, WI.
What is the asking price?
The asking price for this property is $595,000.
What are key features of this property?
This property features: 5,008 SF single‑tenant industrial asset in Menomonee Falls, WI with 100% occupancy; Wisconsin Home Improvement Co. lease renewed for a new three‑year term commencing April 2026; Lease includes rent escalations of 12.5% in 2027 and 11% in 2028 (about 25% total growth over the term)
