Self-Storage
For Sale
Contact for pricing
2940 Wisconsin Street, Sturtevant, WI 53177
Located on Wisconsin Street in Sturtevant with Mixed-Use Commercial zoning.
Property Size8,526 SF
Price / SF$93.83
Days on Market83
Property Features for 2940 Wisconsin Street
General Information
Standard status
Active
Size
8,526 SF
Property subtype
Industrial, Self Storage
Zoning
Mixed-Use Commercial
Investment Type
Owner/User
Building Details
Year Built
1940
Buildings
3
Units
12
Tenancy
Multi
Listing Agency:
Newmark
(262) 613-6096
Listed By:
Liam O Neill · License #114351-94
Source:
Crexi
Added: Jun 10
Changed: Aug 30
Last Checked: Aug 30 at 3:39PM
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 Newmark
Investment Insights
Based on property information with market context.
The property is identified as a self-storage facility with a 1940 construction date. It is situated at 2940 Wisconsin Street in Sturtevant, Wisconsin, and carries Mixed-Use Commercial zoning.
Key Highlights
- Self‑storage facility classification
- Mixed‑Use Commercial zoning
- 1940 year built
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
$50,309
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
6.29%
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%
$1,006,180
$1.0M
Cap Rate 7%
$718,700
$718.7K
Cap Rate 9%
$558,989
$559.0K
Market Conditions
NOI Build-Up for 8,526 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
$66.5K $7.80/SF
− Vacancy
−$7.3K −$0.86/SF
EGI
$59.2K $6.94/SF
− OpEx
−$8.9K −$1.04/SF
NOI
$50.3K $5.90/SF
Area
Racine County, WI
Vacancy
11.00%
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%
$1,006,180
Cap Rate 7%
$718,700
Cap Rate 9%
$558,989
Alternative Uses
Best Use
Self Storage
$1.18M
$1.04M – $1.38M
NOI $82,809 @ 7.0% cap · market cap 10.35%
Second Best
Warehouse
$718.7K
$628.9K – $838.5K
NOI $50,309 @ 7.0% cap · market cap 6.29%
Theoretical Best
Office A
$2.05M
$1.79M – $2.39M
NOI $143,523 @ 7.0% cap · market cap 17.94%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
189
Businesses Nearby
Explore this area
Business Placement
Demographics for 53177, WI
8,482
Population
2,566
Households
3.3
Avg Household Size
40
Median Age
24%
College-Educated
90%
High-School Grad
27.6 sq mi
ZIP Area
307
Density / Sq Mi
$77,409
Median Household Income
$46,314
Median Earnings
$1,295
Median Rent
$228,900
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?
Self storage facility - Located on Wisconsin Street in Sturtevant with Mixed-Use Commercial zoning.
Where is this self storage facility located?
The property is located at 2940 Wisconsin Street Sturtevant, WI.
What is the asking price?
The asking price for this property is $800,000.
What are key features of this property?
This property features: Self‑storage facility classification; Mixed‑Use Commercial zoning; 1940 year built
