Multi-Tenant Industrial
For Sale
Contact for pricing
2121 South West Avenue, Waukesha, WI 53189
Fully leased industrial property with multiple suites and drive-in loading access.
Property Size13,300 SF
Price / SF$74.92
Days on Market56
Property Features for 2121 South West Avenue
General Information
Standard status
Active
Size
13,300 SF
Class
C
Property subtype
Industrial
Occupancy
100%
Lease Type
NNN
Investment Type
Stabilized
Additional Details
Drive-In Doors
4
Building Details
Year Built
1983
Buildings
1
Tenancy
Multi
Listing Agency:
Marcus & Millichap - Milwaukee
Listed By:
Peyton Mueller · License #112571-94
Source:
Crexi
Added: Aug 25
Changed: Oct 6
Last Checked: Oct 16 at 8:28AM
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
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Investment Insights
Based on property information with market context.
This 13,300-square-foot industrial building contains three suites occupied by two tenants and is currently 100% leased. Four drive-in doors support functional loading access across the multi-tenant layout. Constructed in 1983, the property has a documented history of long-term tenant occupancy.
In-place rents are below market, while CAM expenses are under-recovered. The existing lease-up and expense structure provide identifiable operating considerations for an investor evaluating the property’s current income profile. The asset is located at 2121 South West Avenue in Waukesha, Wisconsin.
In-place rents are below market, while CAM expenses are under-recovered. The existing lease-up and expense structure provide identifiable operating considerations for an investor evaluating the property’s current income profile. The asset is located at 2121 South West Avenue in Waukesha, Wisconsin.
Key Highlights
- 100% leased industrial property with three suites
- Two tenants occupy the building, supported by long‑term occupancy history
- Four drive‑in doors provide loading access
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$48,430
Cap Rate
4.86%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$968,600
$968.6K
Cap Rate 7%
$691,857
$691.9K
Cap Rate 9%
$538,111
$538.1K
Market Conditions
NOI Build-Up for 13,300 SF
Gross rent
$72.8K $5.47/SF
− Vacancy
−$3.6K −$0.27/SF
EGI
$69.2K $5.20/SF
− OpEx
−$20.8K −$1.56/SF
NOI
$48.4K $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%
$968,600
Cap Rate 7%
$691,857
Cap Rate 9%
$538,111
Alternative Uses
Best Use
Industrial
$691.9K
$605.4K – $807.2K
NOI $48,430 @ 7.0% cap · market cap 4.86%
Second Best
—
—
no second resolved use
Theoretical Best
Flex RnD
$6.79M
$5.94M – $7.92M
NOI $475,155 @ 7.0% cap · market cap 47.69%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Open Analytics
Current Use
Lease Details
4
Drive-in doors
Location Intelligence
Trade Area within ½ mile
446
Businesses Nearby
Explore this area
Business Placement
Demographics for 53189, WI
26,846
Population
10,443
Households
2.6
Avg Household Size
42
Median Age
45%
College-Educated
97%
High-School Grad
47.8 sq mi
ZIP Area
562
Density / Sq Mi
$114,555
Median Household Income
$58,501
Median Earnings
$1,206
Median Rent
$372,600
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Industrial in Midwest region
Frequently Asked Questions
What type of property is this?
Industrial property - Fully leased industrial property with multiple suites and drive-in loading access.
Where is this industrial property located?
The property is located at 2121 South West Avenue Waukesha, WI.
What is the asking price?
The asking price for this property is $996,419.
What are key features of this property?
This property features: 100% leased industrial property with three suites; Two tenants occupy the building, supported by long‑term occupancy history; Four drive‑in doors provide loading access
