Manufacturing Facility with Office
For Sale
Contact for pricing
4640 W Ironwood Dr, Franklin, WI 53132
Business park facility includes dedicated workspaces, meeting space, and a lunch room.
Property Size39,140 SF
Price / SF$110
Days on Market10
Property Features for 4640 W Ironwood Dr
General Information
Standard status
Active
Size
39,140 SF
Property subtype
INDUSTRIAL
Additional Details
Highway Access
Yes
Amenities
private offices
conference room
bull pen area
lunch room
elevator
Listing Agency:
Colliers - Milwaukee
(262) 951-6497
Listed By:
Jan Kadow · License #5027590
(262) 951-6497
Source:
Moodyscre
Added: Aug 11
Changed: Aug 14
Last Checked: Aug 19 at 2:43PM
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 Colliers - Milwaukee
Investment Insights
Based on property information with market context.
This 39,140 SF manufacturing facility combines production space with a substantial administrative layout. The building includes 9 private offices, a conference room, bull pen area, and lunch room, providing distinct areas for management, meetings, staff activities, and day-to-day operations. A Savaria lift/elevator is installed for one person and a wheelchair, with a rated load of 750 lb.
The property is located in Franklin Business Park at 4640 W Ironwood Dr, Franklin, WI 53132. Ryan Road provides access to I-94, connecting the facility with the regional transportation network.
The property is located in Franklin Business Park at 4640 W Ironwood Dr, Franklin, WI 53132. Ryan Road provides access to I-94, connecting the facility with the regional transportation network.
Key Highlights
- 39,140 SF manufacturing facility
- 9 private offices, conference room, bull pen area, and lunch room
- Savaria lift/elevator rated for 750 lb and designed for one person and a wheelchair
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
$142,524
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
3.31%
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%
$2,850,480
$2.9M
Cap Rate 7%
$2,036,057
$2.0M
Cap Rate 9%
$1,583,600
$1.6M
Market Conditions
NOI Build-Up for 39,140 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
$214.1K $5.47/SF
− Vacancy
−$10.5K −$0.27/SF
EGI
$203.6K $5.20/SF
− OpEx
−$61.1K −$1.56/SF
NOI
$142.5K $3.64/SF
Area
Milwaukee County, WI
Vacancy
4.90%
Lease Rate
$5.47 /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%
$2,850,480
Cap Rate 7%
$2,036,057
Cap Rate 9%
$1,583,600
Alternative Uses
Best Use
Industrial
$2.04M
$1.78M – $2.38M
NOI $142,524 @ 7.0% cap · market cap 3.31%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$9.28M
$8.12M – $10.83M
NOI $649,706 @ 7.0% cap · market cap 15.09%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
180
Businesses Nearby
Explore this area
Business Placement
Demographics for 53132, WI
36,166
Population
14,073
Households
2.6
Avg Household Size
44
Median Age
46%
College-Educated
95%
High-School Grad
34.7 sq mi
ZIP Area
1,042
Density / Sq Mi
$110,656
Median Household Income
$64,194
Median Earnings
$1,380
Median Rent
$345,600
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?
Manufacturing property - Business park facility includes dedicated workspaces, meeting space, and a lunch room.
Where is this manufacturing property located?
The property is located at 4640 W Ironwood Dr Franklin, WI.
What is the asking price?
The asking price for this property is $4,305,400.
What are key features of this property?
This property features: 39,140 SF manufacturing facility; 9 private offices, conference room, bull pen area, and lunch room; Savaria lift/elevator rated for 750 lb and designed for one person and a wheelchair
