Flex Building with Two
4326 MICHIGAN AVE MANITOWOC WI 54220, Manitowoc, WI 54220
For Sale
Contact for pricing
Front unit is leased as a pet grooming space; back offers storage with overhead doors and ample yard for expansion.
Property Size4,032 SF
Price / SF$59.50
Days on Market145
Property Features for 4326 MICHIGAN AVE MANITOWOC WI 54220
General Information
Standard status
Size
Class
Total Parking Spaces
Property subtype
Zoning
Investment Type
Additional Details
Drive-In Doors
Office Units
Building Details
Year Built
Buildings
Stories
Units
Tenancy
Listing Agency:
Choice Commercial Real Estate LLC
Listed By:
George Krause · License #WI 51721-90
(920) 905-0550
Source:
Crexi
Added: Jun 16
Changed: Oct 26
Last Checked: Nov 6 at 8:37AM
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 Choice Commercial Real Estate LLC
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Investment Insights
Based on property information with market context.
This well maintained commercial flex building is configured as two separately metered 2,016 sq ft spaces totaling 4,032 sq ft. A fire wall separates the front and back portions, allowing the uses to function independently. The back half includes an upper level on the rear portion for added storage, or it could be renovated for a new layout. The property also features two overhead doors serving the storage area, supporting contractor and warehousing-style operations.
The property includes an asphalt parking lot and offers ample back yard space that may support a future addition for additional parking or expansion of the building. The front half is currently leased to a pet grooming business, while the back half provides primarily storage capacity at grade plus the upper level.
This setup can fit tenants looking for a retail/office presence with adjacent storage needs, or operators who want to keep separate functions under one roof. With separately metered units and direct overhead door access for the rear, the building supports straightforward day-to-day use for contractor storage, light warehouse, or combinations of storefront and back-of-house space. The upper area on the back portion also offers a workable area that could be renovated to better match future operating needs.
The property includes an asphalt parking lot and offers ample back yard space that may support a future addition for additional parking or expansion of the building. The front half is currently leased to a pet grooming business, while the back half provides primarily storage capacity at grade plus the upper level.
This setup can fit tenants looking for a retail/office presence with adjacent storage needs, or operators who want to keep separate functions under one roof. With separately metered units and direct overhead door access for the rear, the building supports straightforward day-to-day use for contractor storage, light warehouse, or combinations of storefront and back-of-house space. The upper area on the back portion also offers a workable area that could be renovated to better match future operating needs.
Key Highlights
- 1947‑built commercial retail/office/contractor building with 4,032 total SF split into two 2,016 SF spaces
- Both units are separately metered, with a fire wall separating the front and back portions of the building
- Front half is leased to a pet grooming business
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$14,967
Cap Rate
6.24%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$299,340
$299.3K
Cap Rate 7%
$213,814
$213.8K
Cap Rate 9%
$166,300
$166.3K
Market Conditions
NOI Build-Up for 4,032 SF
Gross rent
$21.8K $5.40/SF
− Vacancy
−$392 −$0.10/SF
EGI
$21.4K $5.30/SF
− OpEx
−$6.4K −$1.59/SF
NOI
$15.0K $3.71/SF
Area
Manitowoc County, WI
Vacancy
1.80%
Lease Rate
$5.40 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$299,340
Cap Rate 7%
$213,814
Cap Rate 9%
$166,300
Alternative Uses
Best Use
Retail
$744.6K
$651.5K – $868.7K
NOI $52,121 @ 7.0% cap · market cap 21.73%
Second Best
Flex RnD
$524.0K
$458.5K – $611.3K
NOI $36,678 @ 7.0% cap · market cap 15.29%
Theoretical Best
Specialty Retail
$883.6K
$773.2K – $1.03M
NOI $61,853 @ 7.0% cap · market cap 25.78%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
2
Drive-in doors
2
Office units
Location Intelligence
Trade Area within ½ mile
102
Businesses Nearby
Under-served
Demand for This Use
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Business Placement
Demographics for 54220, WI
40,737
Population
18,942
Households
2.2
Avg Household Size
44
Median Age
24%
College-Educated
91%
High-School Grad
98.7 sq mi
ZIP Area
413
Density / Sq Mi
$65,188
Median Household Income
$40,791
Median Earnings
$790
Median Rent
$159,500
Median Home Value
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Market
Vacancy Rate% for Industrial in Midwest region
Frequently Asked Questions
What type of property is this?
Flex space - Front unit is leased as a pet grooming space; back offers storage with overhead doors and ample yard for expansion.
Where is this flex space located?
The property is located at 4326 MICHIGAN AVE MANITOWOC WI 54220 Manitowoc, WI.
What is the asking price?
The asking price for this property is $239,900.
What are key features of this property?
This property features: 1947‑built commercial retail/office/contractor building with 4,032 total SF split into two 2,016 SF spaces; Both units are separately metered, with a fire wall separating the front and back portions of the building; Front half is leased to a pet grooming business
