Industrial Warehouse with Overhead
For Sale
Contact for pricing
3432 W Highview Dr, Appleton, WI
Heated industrial warehouse with offices, loading docks, and cranes.
Property Size20,000 SF
Lot Size1.02 Acres
Price / SF$65
Days on Market538
Property Features for 3432 W Highview Dr
General Information
Standard status
Active
Size
20,000 SF
Lot size
1.02 Acres
Property subtype
INDUSTRIAL
Lease Type
NNN
Properties For Sale
at 3432 W Highview Dr Contact us- Floor
- 1
- Size
- 20,000 SF
- Type
- INDUSTRIAL
- Lease Type
- NNN
- Availability
- AVAILABLE
- Sublease
- No
20,000 SF Industrial/Warehouse For Lease
• Well located, heated industrial warehouse
space with offices conveniently...
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Listing Agency:
NAI Pfefferle
(920) 968-4700
Listed By:
Adam Figurin · License #87252
(815) 262-2994
Source:
Moodyscre
Added: Mar 25, 2025
Changed: Sep 7
Last Checked: Sep 12 at 11:29AM
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 heated industrial warehouse space features offices and is well-located between College Avenue and Wisconsin Avenue, with convenient access to I-41. The property includes two loading docks and two overhead doors, one 14-foot door and one 12-foot door. The interior clear height ranges from 16 to 18 feet. It is equipped with two 5-ton overhead cranes and one 1-ton jib crane. The property has heavy traffic flow between College Avenue and Wisconsin Avenue. Electrical service includes 480V and 240V 3-Phase power. Updated LED lighting is installed throughout the warehouse. The total property size is 20000 square feet.
Key Highlights
- Two 5‑ton overhead cranes
- Convenient location between College Avenue and Wisconsin Avenue, minutes from I‑41
- Two loading docks for easy shipping and receiving
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
$97,556
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%
$1,951,120
$2.0M
Cap Rate 7%
$1,393,657
$1.4M
Cap Rate 9%
$1,083,956
$1.1M
Market Conditions
NOI Build-Up for 20,000 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
$118.2K $5.91/SF
− Vacancy
−$3.4K −$0.17/SF
EGI
$114.8K $5.74/SF
− OpEx
−$17.2K −$0.86/SF
NOI
$97.6K $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%
$1,951,120
Cap Rate 7%
$1,393,657
Cap Rate 9%
$1,083,956
Alternative Uses
Best Use
Warehouse
$1.39M
$1.22M – $1.63M
NOI $97,556 @ 7.0% cap · market cap 7.50%
Second Best
Industrial
$1.15M
$1.00M – $1.34M
NOI $80,341 @ 7.0% cap · market cap 6.18%
Theoretical Best
Office A
$5.51M
$4.83M – $6.43M
NOI $386,001 @ 7.0% cap · market cap 29.69%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
786
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Industrial in Midwest region
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Frequently Asked Questions
What type of property is this?
Warehouse - Heated industrial warehouse with offices, loading docks, and cranes.
Where is this warehouse located?
The property is located at 3432 W Highview Dr Appleton, WI.
What is the asking price?
The asking price for this property is $1,300,000.
What are key features of this property?
This property features: Two 5‑ton overhead cranes; Convenient location between College Avenue and Wisconsin Avenue, minutes from I‑41; Two loading docks for easy shipping and receiving
