Industrial Warehouse with Fenced
For Sale
$625,000
683 SULLIVAN DRIVE, Fond du Lac, WI 54935
Industrial-zoned warehouse with four overhead doors, fenced rear yard, and 10' clear height, partially leased.
Property Size6,075 SF
Price / SF$102.88
Days on Market151
Property Features for 683 SULLIVAN DRIVE
General Information
Standard status
Active
Size
6,075 SF
Property subtype
General Commercial
Taxes and HOA fees
Annual Taxes
$4,437
Amenities
Gas, A/C - Other
3
Other
M-1 Industrial District
10 Parking Spaces. On Site.
0.5 to .99
Building Details
Year Built
1979
Stories
1
Listing Agency:
Zellner Real Estate
(920) 960-3898
Listed By:
Zellner Real Estate · License #5923790
(920) 960-3898
Source:
Xome
Added: Mar 26
Changed: Aug 23
Last Checked: Aug 23 at 3:30AM
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 Zellner Real Estate
Investment Insights
Based on property information with market context.
This industrial-zoned property includes a warehouse with over 6,000 square feet of space and a fenced rear yard. The building is equipped with four overhead doors: (2) 16' x 10' doors, a 14' x 10' door, and an 8' x 9' door, plus an inoperable loading dock. Inside, the clear height is 10' with approximately 12' clearance between structural beams.
The building is located minutes from the Hwy 41/Military Rd interchange. A portion of the space is partially leased, consisting of approximately 2,400 square feet with a large shop area, two offices, a restroom, and a waiting area near the front door.
With M-1 Industrial zoning, the property offers flexibility for a range of industrial uses while maintaining a functional layout for both shop and office needs.
The building is located minutes from the Hwy 41/Military Rd interchange. A portion of the space is partially leased, consisting of approximately 2,400 square feet with a large shop area, two offices, a restroom, and a waiting area near the front door.
With M-1 Industrial zoning, the property offers flexibility for a range of industrial uses while maintaining a functional layout for both shop and office needs.
Key Highlights
- Industrial‑zoned warehouse with over 6,000 sq ft on nearly 1 acre of land and a fenced rear yard area
- 4 overhead doors: (2) 16' x 10', 14' x 10', and 8' x 9', plus an inoperable loading dock
- 10' clear height in the building, with 12' clearance between structural beams
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
$43,314
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
6.93%
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%
$866,280
$866.3K
Cap Rate 7%
$618,771
$618.8K
Cap Rate 9%
$481,267
$481.3K
Market Conditions
NOI Build-Up for 6,075 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
$54.7K $9.00/SF
− Vacancy
−$3.7K −$0.61/SF
EGI
$51.0K $8.39/SF
− OpEx
−$7.6K −$1.26/SF
NOI
$43.3K $7.13/SF
Area
Fond du Lac County, WI
Vacancy
6.80%
Lease Rate
$9.00 /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%
$866,280
Cap Rate 7%
$618,771
Cap Rate 9%
$481,267
Alternative Uses
Best Use
Warehouse
$618.8K
$541.4K – $721.9K
NOI $43,314 @ 7.0% cap · market cap 6.93%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$5.85M
$5.12M – $6.83M
NOI $409,771 @ 7.0% cap · market cap 65.56%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
208
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 54935, WI
42,513
Population
19,115
Households
2.2
Avg Household Size
39
Median Age
23%
College-Educated
91%
High-School Grad
15.6 sq mi
ZIP Area
2,725
Density / Sq Mi
$63,060
Median Household Income
$41,338
Median Earnings
$880
Median Rent
$166,400
Median Home Value
Market
Vacancy Rate% for Industrial in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
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- Barber Enterprises Mini-Storage — 661 Sullivan Dr, Fond du Lac, WI 54937
- Du Frane Moving and Storage — 800 Morris St, Fond du Lac, WI 54935
Frequently Asked Questions
What type of property is this?
Warehouse - Industrial-zoned warehouse with four overhead doors, fenced rear yard, and 10' clear height, partially leased.
Where is this warehouse located?
The property is located at 683 SULLIVAN DRIVE Fond du Lac, WI.
What is the asking price?
The asking price for this property is $625,000.
What are key features of this property?
This property features: Industrial‑zoned warehouse with over 6,000 sq ft on nearly 1 acre of land and a fenced rear yard area; 4 overhead doors: (2) 16' x 10', 14' x 10', and 8' x 9', plus an inoperable loading dock; 10' clear height in the building, with 12' clearance between structural beams
