Service-Ready Industrial
For Sale
$699,000
5223 Oakes Avenue, Superior, WI 54880
Steel industrial building with office space, large overhead doors, 220 electrical service, and a fenced yard with electronic gates.
Property Size6,000 SF
Lot Size1.25 Acres
Price / SF$116.50
Days on Market129
Property Features for 5223 Oakes Avenue
General Information
Standard status
Active
Size
6,000 SF
Lot size
1.25 Acres
Property subtype
Commercial
Zoning
Business/Commercial
Site & Location
Fenced Yard
Yes
Utilities to Site
Yes
Taxes and HOA fees
Annual Taxes
$7,068
Amenities
conference room
lunch room
mezzanine office
Building Details
Building Size
6,000 SF
Year Built
2005
Stories
2
Units
1
Construction
steel
Listing Agency:
Coldwell Banker Realty
(218) 491-1122
Listed By:
Jessica Bellefeuille
(218) 491-1122
Source:
Juverealestate
Added: Apr 17
Changed: Aug 23
Last Checked: Aug 23 at 5:44AM
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 Coldwell Banker Realty
Investment Insights
Based on property information with market context.
Secure, service-ready office/service building with a track record of real-world use. The property consists of a 6,000+ sq. ft. steel structure on 1.25 acres, with practical office build-out including three offices plus a conference room, as well as a large mezzanine office. Inside there is also a bathroom and lunch room, along with substantial storage to support day-to-day operations.
The shop/garage area is designed for functional work, with two large overhead doors sized 20' x 14' and 18' x 14'. The building includes 220 electrical service, forced-air natural gas heat, and a metal roof. City utilities are available, and the fenced yard features electronic gates, providing additional outdoor space for parking and staging.
Zoned M-1, this property is suited to light industrial and contractor-style uses that need both service space and on-site office support.
The shop/garage area is designed for functional work, with two large overhead doors sized 20' x 14' and 18' x 14'. The building includes 220 electrical service, forced-air natural gas heat, and a metal roof. City utilities are available, and the fenced yard features electronic gates, providing additional outdoor space for parking and staging.
Zoned M-1, this property is suited to light industrial and contractor-style uses that need both service space and on-site office support.
Key Highlights
- 6,000+ SF steel M‑1 zoned office/service building on 1.25 acres
- Shop/garage includes two overhead doors: 20' x 14' and 18' x 14'
- 220 electrical service plus forced‑air natural gas heat
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
$29,118
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
4.17%
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%
$582,360
$582.4K
Cap Rate 7%
$415,971
$416.0K
Cap Rate 9%
$323,533
$323.5K
Market Conditions
NOI Build-Up for 6,000 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
$35.3K $5.88/SF
− Vacancy
−$1.0K −$0.17/SF
EGI
$34.3K $5.71/SF
− OpEx
−$5.1K −$0.86/SF
NOI
$29.1K $4.85/SF
Area
Douglas County, WI
Vacancy
2.90%
Lease Rate
$5.88 /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%
$582,360
Cap Rate 7%
$415,971
Cap Rate 9%
$323,533
Alternative Uses
Best Use
Warehouse
$416.0K
$364.0K – $485.3K
NOI $29,118 @ 7.0% cap · market cap 4.17%
Second Best
Industrial
$346.4K
$303.1K – $404.2K
NOI $24,251 @ 7.0% cap · market cap 3.47%
Theoretical Best
Specialty Retail
$1.89M
$1.66M – $2.21M
NOI $132,423 @ 7.0% cap · market cap 18.94%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Fenced yard
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
77
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 54880, WI
30,400
Population
14,325
Households
2.1
Avg Household Size
39
Median Age
28%
College-Educated
94%
High-School Grad
166.1 sq mi
ZIP Area
183
Density / Sq Mi
$66,942
Median Household Income
$40,813
Median Earnings
$901
Median Rent
$176,700
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?
Flex space - Steel industrial building with office space, large overhead doors, 220 electrical service, and a fenced yard with electronic gates.
Where is this flex space located?
The property is located at 5223 Oakes Avenue Superior, WI.
What is the asking price?
The asking price for this property is $699,000.
What are key features of this property?
This property features: 6,000+ SF steel M‑1 zoned office/service building on 1.25 acres; Shop/garage includes two overhead doors: 20' x 14' and 18' x 14'; 220 electrical service plus forced‑air natural gas heat
