Flex Property with Industrial
For Sale
$1,150,000
2320 Cunningham St, La Crosse, WI 54603
Two-building property with open interiors, overhead doors, and Heavy Industrial zoning.
Property Size9,100 SF
Lot Size0.86 Acres
Price / SF$126.37
Days on Market61
Property Features for 2320 Cunningham St
General Information
Standard status
Active
Size
9,100 SF
Lot size
0.86 Acres
Property subtype
Commercial
Zoning
Heavy Industrial
Warehouse & Industrial
Power
1,200 amps
Three-Phase Power
Yes
Heavy Power
Yes
Additional Details
Outdoor Storage
Yes
Building Details
Year Built
1993
Buildings
2
Listing Agency:
ACRE Properties
(608) 304-5700
Listed By:
Casey Weiss · License #938139
Source:
Homesinwisconsin
Added: Jul 1
Changed: Aug 29
Last Checked: Aug 26 at 5:51AM
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 ACRE Properties
Investment Insights
Based on property information with market context.
This flex property includes two buildings totaling 9,100 SF on 0.86 acre. The 6,000-SF block building has updated interior and exterior paint, storefront windows, and a monument sign. A separate 3,100-SF metal building, constructed in the early 2000s, adds additional open interior space. Both buildings include multiple large overhead doors, two unit heaters, and flexible floor areas. Existing improvements also include a bathroom and three small work areas.
The property is in La Crosse’s Interstate Industrial Park near Kwik Trip HQ. Heavy Industrial zoning supports a broad range of commercial and industrial uses. Site improvements include a sealed and striped parking lot, a large gravel area for exterior storage that can be fenced, and 1,200-amp three-phase electrical service.
The property is in La Crosse’s Interstate Industrial Park near Kwik Trip HQ. Heavy Industrial zoning supports a broad range of commercial and industrial uses. Site improvements include a sealed and striped parking lot, a large gravel area for exterior storage that can be fenced, and 1,200-amp three-phase electrical service.
Key Highlights
- Two buildings totaling 9,100 SF on 0.86 acre
- 6,000‑SF block building with fresh interior and exterior paint
- 3,100‑SF metal building constructed in the early 2000s
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
$105,618
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
9.18%
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%
$2,112,360
$2.1M
Cap Rate 7%
$1,508,829
$1.5M
Cap Rate 9%
$1,173,533
$1.2M
Market Conditions
NOI Build-Up for 9,100 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
$174.7K $19.20/SF
− Vacancy
−$12.2K −$1.34/SF
EGI
$162.5K $17.86/SF
− OpEx
−$56.9K −$6.25/SF
NOI
$105.6K $11.61/SF
Area
La Crosse County, WI
Vacancy
7.00%
Lease Rate
$19.20 /SF/Yr
Expense Ratio
35.00%
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%
$2,112,360
Cap Rate 7%
$1,508,829
Cap Rate 9%
$1,173,533
Alternative Uses
Best Use
Flex RnD
$1.51M
$1.32M – $1.76M
NOI $105,618 @ 7.0% cap · market cap 9.18%
Second Best
Warehouse
$976.3K
$854.3K – $1.14M
NOI $68,342 @ 7.0% cap · market cap 5.94%
Theoretical Best
Specialty Retail
$1.99M
$1.74M – $2.32M
NOI $139,312 @ 7.0% cap · market cap 12.11%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Heavy power
Location Intelligence
Trade Area within ½ mile
183
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 54603, WI
14,203
Population
7,168
Households
2
Avg Household Size
39
Median Age
21%
College-Educated
92%
High-School Grad
8.9 sq mi
ZIP Area
1,596
Density / Sq Mi
$49,693
Median Household Income
$37,917
Median Earnings
$936
Median Rent
$175,500
Median Home Value
Market
Vacancy Rate% for Industrial in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Flex space - Two-building property with open interiors, overhead doors, and Heavy Industrial zoning.
Where is this flex space located?
The property is located at 2320 Cunningham St La Crosse, WI.
What is the asking price?
The asking price for this property is $1,150,000.
What are key features of this property?
This property features: Two buildings totaling 9,100 SF on 0.86 acre; 6,000‑SF block building with fresh interior and exterior paint; 3,100‑SF metal building constructed in the early 2000s
