Manufacturing and Industrial
For Sale
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1912 Columbus Street, Two Rivers, WI 54241
Well-maintained manufacturing/industrial building in Columbus Street Industrial Park with 31,920 SF on 7.93 acres.
Property Size31,920 SF
Lot Size7.93 Acres
Price / SF$40.73
Days on Market87
Property Features for 1912 Columbus Street
General Information
Standard status
Active
Size
31,920 SF
Lot size
7.93 Acres
Property subtype
Industrial
Zoning
I-2
Building Details
Year Built
1965
Tenancy
Single
Listing Agency:
NAI Pfefferle
Listed By:
David Hodge · License #WI 60355-90
(262) 948-8100
Source:
Crexi
Added: Jun 11
Changed: Aug 26
Last Checked: Aug 31 at 5:54AM
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 NAI Pfefferle
Investment Insights
Based on property information with market context.
Well-maintained manufacturing/industrial building located in the Columbus Street Industrial Park. The property includes 31,920 SF of building space and sits on 7.93 total acres, with 5.58 acres designated as developable land.
The site offers convenient access to Manitowoc and Green Bay, and is positioned near downtown Two Rivers.
The acreage mix supports both current building use and additional development opportunity within the same parcel.
The site offers convenient access to Manitowoc and Green Bay, and is positioned near downtown Two Rivers.
The acreage mix supports both current building use and additional development opportunity within the same parcel.
Key Highlights
- Well‑maintained manufacturing/industrial building in Columbus Street Industrial Park
- 31,920 SF building space
- 7.93 total acres, including 5.58 developable land
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
$118,486
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
9.11%
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%
$2,369,720
$2.4M
Cap Rate 7%
$1,692,657
$1.7M
Cap Rate 9%
$1,316,511
$1.3M
Market Conditions
NOI Build-Up for 31,920 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
$172.4K $5.40/SF
− Vacancy
−$3.1K −$0.10/SF
EGI
$169.3K $5.30/SF
− OpEx
−$50.8K −$1.59/SF
NOI
$118.5K $3.71/SF
Area
Manitowoc County, WI
Vacancy
1.80%
Lease Rate
$5.40 /SF/Yr
Expense Ratio
30.00%
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%
$2,369,720
Cap Rate 7%
$1,692,657
Cap Rate 9%
$1,316,511
Alternative Uses
Best Use
Industrial
$1.69M
$1.48M – $1.97M
NOI $118,486 @ 7.0% cap · market cap 9.11%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$7.00M
$6.12M – $8.16M
NOI $489,669 @ 7.0% cap · market cap 37.67%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
52
Businesses Nearby
Explore this area
Business Placement
Demographics for 54241, WI
14,258
Population
7,013
Households
2
Avg Household Size
48
Median Age
22%
College-Educated
94%
High-School Grad
67.4 sq mi
ZIP Area
212
Density / Sq Mi
$63,415
Median Household Income
$40,659
Median Earnings
$757
Median Rent
$146,000
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?
Manufacturing property - Well-maintained manufacturing/industrial building in Columbus Street Industrial Park with 31,920 SF on 7.93 acres.
Where is this manufacturing property located?
The property is located at 1912 Columbus Street Two Rivers, WI.
What is the asking price?
The asking price for this property is $1,300,000.
What are key features of this property?
This property features: Well‑maintained manufacturing/industrial building in Columbus Street Industrial Park; 31,920 SF building space; 7.93 total acres, including 5.58 developable land
