Divisible Warehouse
For Sale
Contact for pricing
311 North Linwood Avenue, Appleton, WI 54914
Industrial warehouse space with flexible divisibility for larger or smaller occupancy requirements.
Property Size100,000 SF
Price / SF$65
Days on Market57
Property Features for 311 North Linwood Avenue
General Information
Standard status
Active
Size
100,000 SF
Property subtype
Industrial
Occupancy
100%
Lease Type
NNN
Investment Type
Value Add
Net Operating Income
$624,999
Additional Details
Three-Phase Power
Yes
Building Details
Year Built
1978
Buildings
1
Tenancy
Single
Listing Agency:
Colliers - Minneapolis - St. Paul, Minnesota
Listed By:
Aaron Whitmore · License #40783440
Source:
Crexi
Added: Jul 11
Changed: Sep 2
Last Checked: Sep 5 at 1:51PM
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 Colliers - Minneapolis - St. Paul, Minnesota
Investment Insights
Based on property information with market context.
Industrial warehouse property offering 100,000 SF of available space, with the building capable of being divided into 50,000 SF sections. Constructed in 1978, the facility is located at 311 North Linwood Avenue in Appleton, Wisconsin.
Key Highlights
- 100,000 SF of available warehouse space
- Can be divided into 50,000 SF sections
- Industrial warehouse classification
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
$487,782
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
7.50%
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%
$9,755,640
$9.8M
Cap Rate 7%
$6,968,314
$7.0M
Cap Rate 9%
$5,419,800
$5.4M
Market Conditions
NOI Build-Up for 100,000 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
$591.0K $5.91/SF
− Vacancy
−$17.1K −$0.17/SF
EGI
$573.9K $5.74/SF
− OpEx
−$86.1K −$0.86/SF
NOI
$487.8K $4.88/SF
Area
Outagamie County, WI
Vacancy
2.90%
Lease Rate
$5.91 /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%
$9,755,640
Cap Rate 7%
$6,968,314
Cap Rate 9%
$5,419,800
Alternative Uses
Best Use
Warehouse
$6.97M
$6.10M – $8.13M
NOI $487,782 @ 7.0% cap · market cap 7.50%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$27.57M
$24.13M – $32.17M
NOI $1,930,003 @ 7.0% cap · market cap 29.69%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
790
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 54914, WI
31,082
Population
14,002
Households
2.2
Avg Household Size
38
Median Age
31%
College-Educated
93%
High-School Grad
19.2 sq mi
ZIP Area
1,619
Density / Sq Mi
$77,199
Median Household Income
$42,481
Median Earnings
$936
Median Rent
$210,200
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.
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Frequently Asked Questions
What type of property is this?
Warehouse - Industrial warehouse space with flexible divisibility for larger or smaller occupancy requirements.
Where is this warehouse located?
The property is located at 311 North Linwood Avenue Appleton, WI.
What is the asking price?
The asking price for this property is $6,500,000.
What are key features of this property?
This property features: 100,000 SF of available warehouse space; Can be divided into 50,000 SF sections; Industrial warehouse classification
