Flex Space with Auto Service
For Sale
$1,100,000
1565 Deerwood Dr, Neenah, WI 54956
Mixed-use commercial property combining automotive service, garage-door operations, and self-storage units.
Property Size11,904 SF
Price / SF$92.41
Days on Market30
Property Features for 1565 Deerwood Dr
General Information
Standard status
Active
Size
11,904 SF
Warehouse & Industrial
Drive-In Doors
7
Self-Storage Units
20
Additional Details
Business Included
Yes
Amenities
self storage units
overhead doors with bays
Building Details
Year Built
1987
Listing Agency:
Century 21 Affiliated
(920) 707-0175
Listed By:
Keith D. Sippel · License #91937810
Source:
Heathergossen
Added: Aug 3
Changed: Aug 31
Last Checked: Aug 31 at 7:31PM
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 Century 21 Affiliated
Investment Insights
Based on property information with market context.
This 11,904-square-foot flex property combines an auto service center, a garage-door sales and service business, and 20 self-storage units. The building includes seven overhead doors with service bays, along with substantial storage and shelving. Approximately 7,276 square feet is used by the garage-door operation.
The sale includes inventory, equipment, furniture, fixtures, and vehicles associated with both the garage-door and automotive businesses. An auto-shop tenant and the 20 self-storage units are in place, while the property was built in 1987. The seller may assist with management transition and training.
The sale includes inventory, equipment, furniture, fixtures, and vehicles associated with both the garage-door and automotive businesses. An auto-shop tenant and the 20 self-storage units are in place, while the property was built in 1987. The seller may assist with management transition and training.
Key Highlights
- 11,904‑square‑foot flex property built in 1987
- 20 self‑storage units included
- Seven overhead doors with service bays
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$71,560
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
6.51%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,431,200
$1.4M
Cap Rate 7%
$1,022,286
$1.0M
Cap Rate 9%
$795,111
$795.1K
Market Conditions
NOI Build-Up for 11,904 SF
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.
Gross rent
$92.9K $7.80/SF
− Vacancy
−$8.7K −$0.73/SF
EGI
$84.2K $7.07/SF
− OpEx
−$12.6K −$1.06/SF
NOI
$71.6K $6.01/SF
Area
Winnebago County, WI
Vacancy
9.33%
Lease Rate
$7.80 /SF/Yr
Expense Ratio
15.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,431,200
Cap Rate 7%
$1,022,286
Cap Rate 9%
$795,111
Alternative Uses
Best Use
Retail
$1.63M
$1.43M – $1.91M
NOI $114,368 @ 7.0% cap · market cap 10.40%
Second Best
Self Storage
$1.54M
$1.35M – $1.79M
NOI $107,633 @ 7.0% cap · market cap 9.78%
Theoretical Best
Office A
$2.57M
$2.25M – $3.00M
NOI $179,851 @ 7.0% cap · market cap 16.35%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
7
Drive-in doors
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
182
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 54956, WI
46,316
Population
20,104
Households
2.3
Avg Household Size
40
Median Age
38%
College-Educated
96%
High-School Grad
61.7 sq mi
ZIP Area
751
Density / Sq Mi
$81,386
Median Household Income
$49,445
Median Earnings
$1,005
Median Rent
$238,200
Median Home Value
Market
Vacancy Rate% for Industrial in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Mixed-use commercial property combining automotive service, garage-door operations, and self-storage units.
Where is this flex space located?
The property is located at 1565 Deerwood Dr Neenah, WI.
What is the asking price?
The asking price for this property is $1,100,000.
What are key features of this property?
This property features: 11,904‑square‑foot flex property built in 1987; 20 self‑storage units included; Seven overhead doors with service bays
