Renovated Warehouse with Bonus
For Sale
Contact for pricing
Pending
413 E Murdock Ave, Oshkosh, WI 54901
Renovated warehouse with loading docks, parking, and bonus mezzanine.
Property Size82,699 SF
Lot Size5.86 Acres
Days on Market202
Property Features for 413 E Murdock Ave
General Information
Standard status
Pending
Size
82,699 SF
Lot size
5.86 Acres
Property subtype
Industrial
Listing Agency:
NAI Pfefferle
(920) 968-4700
Listed By:
David Hodge · License #WI 60355-90
Source:
Crexi
Added: Jan 23
Changed: Aug 8
Last Checked: Aug 12 at 3:24PM
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 property offers up to 82,699 square feet of space on 5.862 acres, with the possibility to divide it down to 17,220 square feet for partial building occupants. It features seven loading docks and three drive-in doors. The building is equipped with a 100% wet sprinkler system and 1200 AMP/480V 3-phase power. A significant bonus is the 37,885 square feet of second-floor/mezzanine space available at no additional cost. The property includes new high-bay LED lighting, 11 trailer parking stalls, and 71 employee/visitor parking stalls. The property has undergone significant renovations, including parking lot replacement, interior and exterior painting, roof and mechanical repairs, and new LED lighting in the warehouse space. Short-term and long-term indoor and outdoor storage options are available.
Key Highlights
- Up to 82,699 SF available, demisable down to 17,220 SF.
- Get 37,885 SF of 2nd floor/mezzanine at no cost.
- Features 7 loading docks and 3 drive‑in doors.
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
$409,408
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
7.58%
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%
$8,188,160
$8.2M
Cap Rate 7%
$5,848,686
$5.8M
Cap Rate 9%
$4,548,978
$4.5M
Market Conditions
NOI Build-Up for 82,699 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
$645.1K $7.80/SF
− Vacancy
−$60.2K −$0.73/SF
EGI
$584.9K $7.07/SF
− OpEx
−$175.5K −$2.12/SF
NOI
$409.4K $4.95/SF
Area
Winnebago County, WI
Vacancy
9.33%
Lease Rate
$7.80 /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%
$8,188,160
Cap Rate 7%
$5,848,686
Cap Rate 9%
$4,548,978
Alternative Uses
Best Use
Warehouse
$7.10M
$6.21M – $8.29M
NOI $497,139 @ 7.0% cap · market cap 9.21%
Second Best
Industrial
$5.85M
$5.12M – $6.82M
NOI $409,408 @ 7.0% cap · market cap 7.58%
Theoretical Best
Office A
$17.85M
$15.62M – $20.82M
NOI $1,249,456 @ 7.0% cap · market cap 23.14%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
116
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 54901, WI
37,594
Population
15,381
Households
2.4
Avg Household Size
33
Median Age
24%
College-Educated
92%
High-School Grad
16.6 sq mi
ZIP Area
2,265
Density / Sq Mi
$61,734
Median Household Income
$31,289
Median Earnings
$932
Median Rent
$164,000
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 - Renovated warehouse with loading docks, parking, and bonus mezzanine.
Where is this warehouse located?
The property is located at 413 E Murdock Ave Oshkosh, WI.
What is the asking price?
The asking price for this property is $5,400,000.
What are key features of this property?
This property features: Up to 82,699 SF available, demisable down to 17,220 SF.; Get 37,885 SF of 2nd floor/mezzanine at no cost.; Features 7 loading docks and 3 drive‑in doors.
