Multi-Tenant Flex
For Sale
$3,280,000
4505-4515 S Taylor Dr, Sheboygan, WI 53081
Steel-frame facility combines warehouse and office areas with a paved yard.
Property Size30,540 SF
Lot Size4.40 Acres
Price / SF$108.48
Days on Market132
Property Features for 4505-4515 S Taylor Dr
General Information
Standard status
Active
Size
30,540 SF
Total Parking Spaces
50
Lot size
4.40 Acres
Property subtype
Commercial
Zoning
SI
Warehouse & Industrial
Clear Height
18 ft
Dock-High Doors
6
Drive-In Doors
4
Sprinkler System
Yes
Additional Details
Highway Access
Yes
Taxes and HOA fees
Annual Taxes
$33,441
Amenities
air conditioning
paved yard area
Building Details
Building Size
30,540 SF
Year Built
2000
Buildings
1
Construction
steel-frame and split-face block
Tenancy
Multi
Listing Agency:
Paradigm Real Estate
(262) 717-5151
Listed By:
Brian Parrish
(262) 717-5151
Source:
Therealtycompanyllc
Added: Apr 20
Changed: Aug 28
Last Checked: Aug 28 at 11:31AM
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 Paradigm Real Estate
Investment Insights
Based on property information with market context.
Built in 2000, this multi-tenant flex space at 4505-4515 S Taylor Dr combines warehouse and office areas within a steel-frame, split-face block building. The facility offers 18-foot clear height, six dock doors, four grade-level doors, a sprinkler system, and air conditioning. A paved yard area supports the existing configuration.
The property occupies 4.4 acres in Sheboygan’s business park, with visibility from I-43. The building is arranged for multiple tenants and includes a 7,000 SF suite currently available for lease, adding flexibility for an owner-user or leasing strategy.
The property occupies 4.4 acres in Sheboygan’s business park, with visibility from I-43. The building is arranged for multiple tenants and includes a 7,000 SF suite currently available for lease, adding flexibility for an owner-user or leasing strategy.
Key Highlights
- Multi‑tenant flex space on 4.4 acres
- 18' clear height with six dock doors
- Four grade‑level doors and paved yard area
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
$266,877
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
8.14%
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%
$5,337,540
$5.3M
Cap Rate 7%
$3,812,529
$3.8M
Cap Rate 9%
$2,965,300
$3.0M
Market Conditions
NOI Build-Up for 30,236 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
$435.4K $14.40/SF
− Vacancy
−$24.8K −$0.82/SF
EGI
$410.6K $13.58/SF
− OpEx
−$143.7K −$4.75/SF
NOI
$266.9K $8.83/SF
Area
Sheboygan County, WI
Vacancy
5.70%
Lease Rate
$14.40 /SF/Yr
Expense Ratio
35.00%
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%
$5,337,540
Cap Rate 7%
$3,812,529
Cap Rate 9%
$2,965,300
Alternative Uses
Best Use
Office B
$4.71M
$4.12M – $5.49M
NOI $329,474 @ 7.0% cap · market cap 10.04%
Second Best
Flex RnD
$3.81M
$3.34M – $4.45M
NOI $266,877 @ 7.0% cap · market cap 8.14%
Theoretical Best
Office A
$6.59M
$5.77M – $7.69M
NOI $461,276 @ 7.0% cap · market cap 14.06%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
18 ft
Clear height
6
Dock-high doors
4
Drive-in doors
Multi-tenant
Tenancy
Yes
Sprinkler system
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
105
Businesses Nearby
Well-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 Office in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Flex space - Steel-frame facility combines warehouse and office areas with a paved yard.
Where is this flex space located?
The property is located at 4505-4515 S Taylor Dr Sheboygan, WI.
What is the asking price?
The asking price for this property is $3,280,000.
What are key features of this property?
This property features: Multi‑tenant flex space on 4.4 acres; 18' clear height with six dock doors; Four grade‑level doors and paved yard area
