Manufacturing Property with Detached
New
For Sale
Contact for pricing
2727 N 21ST ST, Sheboygan, WI 53083
Industrial building with separate heated garage, substantial electrical service, overhead access, and outdoor area on an Urban Industrial-zoned site.
Property Size4,625 SF
Lot Size0.73 Acres
Price / SF$75.57
Days on Market6
Property Features for 2727 N 21ST ST
General Information
Standard status
Active
Size
4,625 SF
Lot size
0.73 Acres
Property subtype
Industrial
Zoning
Urban Industrial
Warehouse & Industrial
Clear Height
13 ft
Power
400 amps
Three-Phase Power
Yes
Additional Details
Outdoor Storage
Yes
Building Details
Year Built
1981
Buildings
1
Stories
1
Units
1
Listing Agency:
NAI Pfefferle
(920) 783-6330
Listed By:
Dane Checolinski · License #WI 84402-94
Source:
Crexi
Added: Aug 25
Changed: Aug 29
Last Checked: Aug 29 at 5:11PM
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.
This manufacturing property includes a 4,625-square-foot main building constructed in 1981, with 400 AMP, 3-phase power, a 12-foot overhead door, and 13-foot clear height. Multiple interior areas are configured for crane use. A separate 900-square-foot garage adds insulated, heated space with its own 200 AMP electrical service. The improvements provide a combination of primary shop space, auxiliary storage, and additional operational area.
The property occupies a mature 0.73-acre lot at 2727 N 21st St in Sheboygan, Wisconsin. Outdoor areas can support break space or storage, while the site also offers room for potential building expansion. Urban Industrial zoning and the existing shop improvements support a range of manufacturing and service-oriented commercial applications.
The property occupies a mature 0.73-acre lot at 2727 N 21st St in Sheboygan, Wisconsin. Outdoor areas can support break space or storage, while the site also offers room for potential building expansion. Urban Industrial zoning and the existing shop improvements support a range of manufacturing and service-oriented commercial applications.
Key Highlights
- 4,625 SF main building constructed in 1981
- 400 AMP, 3‑phase electrical service
- 12‑foot overhead door and 13‑foot clear height
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
$28,992
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
8.30%
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%
$579,840
$579.8K
Cap Rate 7%
$414,171
$414.2K
Cap Rate 9%
$322,133
$322.1K
Market Conditions
NOI Build-Up for 4,625 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
$41.6K $9.00/SF
− Vacancy
−$208 −$0.05/SF
EGI
$41.4K $8.96/SF
− OpEx
−$12.4K −$2.69/SF
NOI
$29.0K $6.27/SF
Area
Sheboygan County, WI
Vacancy
0.50%
Lease Rate
$9.00 /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%
$579,840
Cap Rate 7%
$414,171
Cap Rate 9%
$322,133
Alternative Uses
Best Use
Flex RnD
$583.2K
$510.3K – $680.4K
NOI $40,822 @ 7.0% cap · market cap 11.68%
Second Best
Industrial
$414.2K
$362.4K – $483.2K
NOI $28,992 @ 7.0% cap · market cap 8.30%
Theoretical Best
Office A
$1.01M
$882.0K – $1.18M
NOI $70,558 @ 7.0% cap · market cap 20.19%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
13 ft
Clear height
Location Intelligence
Trade Area within ½ mile
340
Businesses Nearby
Explore this area
Business Placement
Demographics for 53083, WI
21,768
Population
9,336
Households
2.3
Avg Household Size
42
Median Age
36%
College-Educated
97%
High-School Grad
32.5 sq mi
ZIP Area
670
Density / Sq Mi
$77,739
Median Household Income
$47,255
Median Earnings
$1,001
Median Rent
$235,500
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 - Industrial building with separate heated garage, substantial electrical service, overhead access, and outdoor area on an Urban Industrial-zoned site.
Where is this manufacturing property located?
The property is located at 2727 N 21ST ST Sheboygan, WI.
What is the asking price?
The asking price for this property is $349,500.
What are key features of this property?
This property features: 4,625 SF main building constructed in 1981; 400 AMP, 3‑phase electrical service; 12‑foot overhead door and 13‑foot clear height
