Self-Storage Facility with Outdoor
For Sale
$799,000
2285 Northern Rd, Neenah, WI 54956
Two buildings offer reconfigurable storage units and space for vehicles, trailers, and additional tenant parking.
Property Size7,200 SF
Lot Size3.21 Acres
Price / SF$110.97
Days on Market44
Property Features for 2285 Northern Rd
General Information
Standard status
Active
Size
7,200 SF
Total Parking Spaces
8
Lot size
3.21 Acres
Site & Location
Highway Access
Yes
Outdoor Storage
Yes
Additional Details
Self-Storage Units
51
Building Details
Year Built
2011
Buildings
2
Listing Agency:
KPR Brokers, LLC
(715) 572-1747
Listed By:
Ann M. Babl · License #1358494
Source:
Moving2greenbay
Added: Jul 18
Changed: Aug 29
Last Checked: Aug 29 at 5:24PM
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 KPR Brokers, LLC
Investment Insights
Based on property information with market context.
Built in 2011, this self-storage property includes two storage buildings across 3.21 acres. The facility contains 51 units and garage doors, with 46 leased spaces arranged through multiple configurations. Removable interior walls support combinations of 10x30, 10x20, and 10x10 units. Eight outdoor parking spaces accommodate vehicles and trailers, with one currently leased.
The property is located at 2285 Northern Rd in Neenah, at the Appleton gateway and just off I-41. Wisconsin Department of Transportation traffic counts on I-41 are approximately 83,600 vehicles per day, providing a highly accessible location for storage users. The land area and flexible unit layout provide additional operational adaptability.
The property is located at 2285 Northern Rd in Neenah, at the Appleton gateway and just off I-41. Wisconsin Department of Transportation traffic counts on I-41 are approximately 83,600 vehicles per day, providing a highly accessible location for storage users. The land area and flexible unit layout provide additional operational adaptability.
Key Highlights
- 3.21‑acre self‑storage property with two storage buildings
- 51 total units and garage doors, including 46 leased spaces
- Unit mix includes 10x30, 10x20, and 10x10 configurations
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
$65,101
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
8.15%
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%
$1,302,020
$1.3M
Cap Rate 7%
$930,014
$930.0K
Cap Rate 9%
$723,344
$723.3K
Market Conditions
NOI Build-Up for 7,200 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
$101.1K $14.04/SF
− Vacancy
−$8.1K −$1.12/SF
EGI
$93.0K $12.92/SF
− OpEx
−$27.9K −$3.88/SF
NOI
$65.1K $9.04/SF
Area
Winnebago County, WI
Vacancy
8.00%
Lease Rate
$14.04 /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%
$1,302,020
Cap Rate 7%
$930,014
Cap Rate 9%
$723,344
Alternative Uses
Best Use
Self Storage
$930.0K
$813.8K – $1.09M
NOI $65,101 @ 7.0% cap · market cap 8.15%
Second Best
Warehouse
$618.3K
$541.0K – $721.4K
NOI $43,282 @ 7.0% cap · market cap 5.42%
Theoretical Best
Office A
$1.55M
$1.36M – $1.81M
NOI $108,781 @ 7.0% cap · market cap 13.61%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
14
Businesses Nearby
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?
Self storage facility - Two buildings offer reconfigurable storage units and space for vehicles, trailers, and additional tenant parking.
Where is this self storage facility located?
The property is located at 2285 Northern Rd Neenah, WI.
What is the asking price?
The asking price for this property is $799,000.
What are key features of this property?
This property features: 3.21‑acre self‑storage property with two storage buildings; 51 total units and garage doors, including 46 leased spaces; Unit mix includes 10x30, 10x20, and 10x10 configurations
