Expandable Industrial Building in
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3327 Horizon Dr, Sheboygan, WI 53081
100,800 SF building in Sheboygan's South Pointe Enterprise Center.
Property Size100,800 SF
Price / SF$96.73
Days on Market628
Property Features for 3327 Horizon Dr
General Information
Standard status
Active
Size
100,800 SF
Property subtype
Industrial
Lease Type
NNN
Building Details
Year Built
2023
Listing Agency:
NAI Pfefferle
(920) 783-6330
Listed By:
Tom Fisk · License #WI 90-43258
Source:
Crexi
Added: Dec 10, 2024
Changed: Aug 14
Last Checked: Aug 29 at 3:14PM
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.
Located in the South Pointe Enterprise Center in the City of Sheboygan, this 100,800 SF building is expandable to 200,000 SF. The property features a clear height of 28’ to 34’. Located near I-43, the building is divisible from 17,000 to 100,000 SF, with room for an additional 100,000 SF. Office build-out is possible. The property benefits from Foreign Trade Zone #41 status and very low water rates. An estimated $1.16MM pay-as-you-go TID incentive is included.
Key Highlights
- Est. $1.16MM Pay as‑you‑go TID Incentive
- Expandable building: 100,800 SF (expandable to 200,000 SF)**
- Well‑located in South Pointe Enterprise Center with direct access to I‑43
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
$767,264
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
7.87%
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%
$15,345,280
$15.3M
Cap Rate 7%
$10,960,914
$11.0M
Cap Rate 9%
$8,525,156
$8.5M
Market Conditions
NOI Build-Up for 100,800 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
$907.2K $9.00/SF
− Vacancy
−$4.5K −$0.05/SF
EGI
$902.7K $8.96/SF
− OpEx
−$135.4K −$1.34/SF
NOI
$767.3K $7.61/SF
Area
Sheboygan County, WI
Vacancy
0.50%
Lease Rate
$9.00 /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%
$15,345,280
Cap Rate 7%
$10,960,914
Cap Rate 9%
$8,525,156
Alternative Uses
Best Use
Warehouse
$10.96M
$9.59M – $12.79M
NOI $767,264 @ 7.0% cap · market cap 7.87%
Second Best
Industrial
$9.03M
$7.90M – $10.53M
NOI $631,865 @ 7.0% cap · market cap 6.48%
Theoretical Best
Office A
$21.97M
$19.22M – $25.63M
NOI $1,537,789 @ 7.0% cap · market cap 15.77%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
118
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 53081, WI
43,465
Population
20,121
Households
2.2
Avg Household Size
38
Median Age
22%
College-Educated
90%
High-School Grad
23.3 sq mi
ZIP Area
1,865
Density / Sq Mi
$62,401
Median Household Income
$42,329
Median Earnings
$866
Median Rent
$169,700
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?
Warehouse - 100,800 SF building in Sheboygan's South Pointe Enterprise Center.
Where is this warehouse located?
The property is located at 3327 Horizon Dr Sheboygan, WI.
What is the asking price?
The asking price for this property is $9,750,000.
What are key features of this property?
This property features: Est. $1.16MM Pay as‑you‑go TID Incentive; Expandable building: 100,800 SF (expandable to 200,000 SF)**; Well‑located in South Pointe Enterprise Center with direct access to I‑43
