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    Reedsville Warehouse on 40 Acres Title is generated by Realmo AI

    6219 Aspen Road, Reedsville, WI 54230

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    Claim this Listing
    For Sale
    $958,000

    New warehouse with office, loft, and potential bardominium.

    Type:Vacant Land / Vacant Land
    Property size:
    5,148 SF
    Lot size:
    40.00 Acres
    Price / SF:
    $186/SF
    Added:
    Apr 7, 2026
    Days on Market:
    55
    Last Refresh:
    Apr 13 at 8:43 pm

    Property Features for 6219 Aspen Road

    General Information

    Standard status
    Active
    Size
    5,148 SF
    Lot size
    40.00 Acres
    Property subtype
    Vacant Land / Vacant Land

    We can help!

    Listing Contact
    Keith A Krepline
    Keith A Krepline

    Listing agent Keith A Krepline License #94-34960

    Listing office Coldwell Banker Real Estate Group

    Listing date Apr 7, 2026

    Source Compass

    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 Real Estate Group

    HighLights

    • New 66x96 warehouse with office space and finishable loft on 40 acres built in 2023
    • Potential for Barndominium conversion with 3BR, 1.5BA, large kitchen, and upper rec room (over 2300SF finishable)
    • Warehouse features 5148SF, 20' sidewalls, zoned in‑floor heating, 6" reinforced concrete floors, 400 amp service, and (2) 14'x14' overhead doors
    • Prepped buildable home site with walkout potential
    • Seller offering a $15,000 credit towards new well and septic systems
    • Allowed exterior features: Horses, Shed, and Storage Building

    Overview

    Located just outside Reedsville, this 40-acre property features a 66x96 warehouse constructed in 2023. The warehouse includes office space and a loft area that is drywalled and ready for finishing, offering over 2300 square feet of finishable space that could be converted into a bardominium with 3 bedrooms, 1.5 bathrooms, a large kitchen, and an upper recreation room. Currently, the space is used as a temporary homeschool. The warehouse area provides approximately 5148 square feet with 20-foot sidewalls, in-floor heating, 6-inch reinforced concrete floors with 2-inch insulation beneath, and a 400 amp electrical service. It also features 3-inch spray foam and 14-inch blown ceiling insulation, a full bath, a half bath, and two 14'x14' overhead doors. A prepped buildable home site with walkout is located on the north side of the property. The property requires a permanent well and septic system and currently uses temporary systems. The seller is offering a $15,000 credit towards new systems. The property offers quick access to Manitowoc, Green Bay, and Appleton.
    Location Intelligence

    Current Use by Public Records

    Agricultural land / Farmland

    Map

    City
    Reedsville
    County
    Manitowoc
    State
    Wisconsin
    Longitude
    -87.972205
    Latitude
    44.175502

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    FAQs

    What type of property is this?
    Agricultural land / Farmland - New warehouse with office, loft, and potential bardominium.
    Where is this agricultural land / farmland located?
    The property is located at 6219 Aspen Road Reedsville, WI.
    What is the asking price?
    The asking price for this property is $958,000.
    What are key features of this property?
    This property features: New 66x96 warehouse with office space and finishable loft on 40 acres built in 2023; Potential for Barndominium conversion with 3BR, 1.5BA, large kitchen, and upper rec room (over 2300SF finishable); **Warehouse features 5148SF, 20' sidewalls, zoned in‑floor heating, 6" reinforced concrete floors, 400 amp service, and (2) 14'x14' overhead doors**
    (920) 993-7355
    We can help!
    Listing Contact
    Keith A Krepline
    Keith A Krepline
    Real Estate License ID: 94-34960
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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