Industrial Facility with ESFR
For Sale
Contact for pricing
585 Enterprise Drive, Neenah, WI 54956
Manufacturing-focused facility offers 26-foot clear height, wet ESFR sprinkling, and multiple loading options for efficient operations.
Property Size115,000 SF
Price / SF$79.13
Days on Market103
Property Features for 585 Enterprise Drive
General Information
Standard status
Active
Size
115,000 SF
Total Parking Spaces
350
Property subtype
Retail, Industrial
Warehouse & Industrial
Clear Height
26 ft
Dock-High Doors
5
Drive-In Doors
2
Heavy Power
Yes
Sprinkler System
Yes
Additional Details
Highway Access
Yes
Listing Agency:
NAI Pfefferle
Listed By:
Jonathan Glassco · License #WI
(920) 968-4700
Source:
Crexi
Added: May 28
Changed: Aug 27
Last Checked: Aug 28 at 11:50AM
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 for-sale industrial facility is designed for manufacturing and warehousing operations, featuring 26-foot clear height and a fully sprinkled wet ESFR fire protection system. Power capacity is supported by 3,000-amp, three-phase service, and the building includes five loading docks plus two drive-in doors, with the reported ability to add more. An air-conditioned manufacturing area helps support controlled conditions, while updated high-efficiency lighting is in place throughout.
The property is located in Neenah’s Southpark Industrial Center and provides adjacent access to I-41 with interstate visibility. A large employee parking lot supports onsite staffing, with parking for approximately 350 vehicles.
With the combination of dock and drive-in loading, strong electrical service, and modern administrative space, the building can accommodate both production and back-office functions. A reported 5,000 square feet of professional office includes large, modern team training rooms, and the site also offers room for building expansion, which may be useful for growing operations that want to remain in place.
The property is located in Neenah’s Southpark Industrial Center and provides adjacent access to I-41 with interstate visibility. A large employee parking lot supports onsite staffing, with parking for approximately 350 vehicles.
With the combination of dock and drive-in loading, strong electrical service, and modern administrative space, the building can accommodate both production and back-office functions. A reported 5,000 square feet of professional office includes large, modern team training rooms, and the site also offers room for building expansion, which may be useful for growing operations that want to remain in place.
Key Highlights
- 26’ clear height manufacturing space with fully sprinkled wet ESFR sprinkler system
- 3,000 AMP 3‑phase power for manufacturing operations
- 5 loading docks plus 2 drive‑in doors (with ability to add more)
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
$691,313
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
7.60%
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%
$13,826,260
$13.8M
Cap Rate 7%
$9,875,900
$9.9M
Cap Rate 9%
$7,681,256
$7.7M
Market Conditions
NOI Build-Up for 115,000 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
$897.0K $7.80/SF
− Vacancy
−$83.7K −$0.73/SF
EGI
$813.3K $7.07/SF
− OpEx
−$122.0K −$1.06/SF
NOI
$691.3K $6.01/SF
Area
Winnebago County, WI
Vacancy
9.33%
Lease Rate
$7.80 /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%
$13,826,260
Cap Rate 7%
$9,875,900
Cap Rate 9%
$7,681,256
Alternative Uses
Best Use
Warehouse
$9.88M
$8.64M – $11.52M
NOI $691,313 @ 7.0% cap · market cap 7.60%
Second Best
Industrial
$8.13M
$7.12M – $9.49M
NOI $569,317 @ 7.0% cap · market cap 6.26%
Theoretical Best
Office A
$24.82M
$21.72M – $28.96M
NOI $1,737,475 @ 7.0% cap · market cap 19.09%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
26 ft
Clear height
5
Dock-high doors
2
Drive-in doors
Yes
Heavy power
Yes
Sprinkler system
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
182
Businesses Nearby
Explore this area
Business Placement
Demographics for 54956, WI
46,316
Population
20,104
Households
2.3
Avg Household Size
40
Median Age
38%
College-Educated
96%
High-School Grad
61.7 sq mi
ZIP Area
751
Density / Sq Mi
$81,386
Median Household Income
$49,445
Median Earnings
$1,005
Median Rent
$238,200
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 - Manufacturing-focused facility offers 26-foot clear height, wet ESFR sprinkling, and multiple loading options for efficient operations.
Where is this manufacturing property located?
The property is located at 585 Enterprise Drive Neenah, WI.
What is the asking price?
The asking price for this property is $9,100,000.
What are key features of this property?
This property features: 26’ clear height manufacturing space with fully sprinkled wet ESFR sprinkler system; 3,000 AMP 3‑phase power for manufacturing operations; 5 loading docks plus 2 drive‑in doors (with ability to add more)
