Steel-Frame Cross-Dock
For Sale
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2245 State Road 44, Oshkosh, WI 54904
Steel-frame cross-dock warehouse with multiple overhead doors, office/showroom space, and a service bay.
Property Size13,955 SF
Lot Size1.89 Acres
Price / SF$71.30
Days on Market75
Property Features for 2245 State Road 44
General Information
Standard status
Active
Size
13,955 SF
Total Parking Spaces
35
Lot size
1.89 Acres
Property subtype
Industrial
Zoning
Suburban Mixed Use
Site & Location
Highway Access
Yes
Road Access
Yes
Warehouse & Industrial
Clear Height
14.5 ft
Dock-High Doors
2
Additional Details
Service Bays
1
Building Details
Year Built
1995
Buildings
1
Construction
steel-frame
Listing Agency:
G. Earl Real Estate
Listed By:
GARY EAKE · License #WI
(920) 426-0417
Source:
Crexi
Added: Jun 29
Changed: Sep 3
Last Checked: Sep 11 at 5:55AM
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 G. Earl Real Estate
Investment Insights
Based on property information with market context.
This steel-frame industrial building offers a cross-dock warehouse configuration with nine 20' (w) x 12' (h) overhead doors, plus two semi-height truck loading docks. The property also includes an 850± SF enclosed repair/service bay with a 12' x 12' overhead door, along with approximately 3,000 SF of office/showroom space. Warehouse eave heights range from 10' to 14.5', and the building is supported by a 200-amp electrical service. Outside, there are 35 paved parking spaces and pylon signage.
The site provides immediate access to State Road 44 and is less than 1/8 mile to Interstate 41. The property is adjacent to a major vehicle repair and fueling facility, with access to nearby airport and trans-load rail facilities.
Zoned Suburban Mixed Use, the facility is positioned for industrial and related service-oriented operations, supported by its dock and overhead door mix and enclosed service capability.
The site provides immediate access to State Road 44 and is less than 1/8 mile to Interstate 41. The property is adjacent to a major vehicle repair and fueling facility, with access to nearby airport and trans-load rail facilities.
Zoned Suburban Mixed Use, the facility is positioned for industrial and related service-oriented operations, supported by its dock and overhead door mix and enclosed service capability.
Key Highlights
- 13,955± SF steel‑frame industrial building on a 1.89‑acre site built circa 1995
- Cross‑dock warehouse layout with nine 20' (w) x 12'(h) overhead doors
- Includes two semi‑height truck loading docks plus an 850± SF enclosed repair/service bay with 12' x 12' overhead door
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
$83,889
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
8.43%
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%
$1,677,780
$1.7M
Cap Rate 7%
$1,198,414
$1.2M
Cap Rate 9%
$932,100
$932.1K
Market Conditions
NOI Build-Up for 13,955 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
$108.8K $7.80/SF
− Vacancy
−$10.2K −$0.73/SF
EGI
$98.7K $7.07/SF
− OpEx
−$14.8K −$1.06/SF
NOI
$83.9K $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%
$1,677,780
Cap Rate 7%
$1,198,414
Cap Rate 9%
$932,100
Alternative Uses
Best Use
Flex RnD
$1.76M
$1.54M – $2.06M
NOI $123,367 @ 7.0% cap · market cap 12.40%
Second Best
Warehouse
$1.20M
$1.05M – $1.40M
NOI $83,889 @ 7.0% cap · market cap 8.43%
Theoretical Best
Office A
$3.01M
$2.64M – $3.51M
NOI $210,839 @ 7.0% cap · market cap 21.19%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
14 ft
Clear height
2
Dock-high doors
1
Service bays
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
345
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 54904, WI
21,828
Population
10,029
Households
2.2
Avg Household Size
44
Median Age
42%
College-Educated
96%
High-School Grad
77.9 sq mi
ZIP Area
280
Density / Sq Mi
$95,813
Median Household Income
$51,645
Median Earnings
$915
Median Rent
$258,900
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Industrial in Midwest region
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Frequently Asked Questions
What type of property is this?
Flex space - Steel-frame cross-dock warehouse with multiple overhead doors, office/showroom space, and a service bay.
Where is this flex space located?
The property is located at 2245 State Road 44 Oshkosh, WI.
What is the asking price?
The asking price for this property is $995,000.
What are key features of this property?
This property features: 13,955± SF steel‑frame industrial building on a 1.89‑acre site built circa 1995; Cross‑dock warehouse layout with nine 20' (w) x 12'(h) overhead doors; Includes two semi‑height truck loading docks plus an 850± SF enclosed repair/service bay with 12' x 12' overhead door
