Warehouse with Seven Drive-In
For Sale
$1,490,000
6830 S Howell Ave, Oak Creek, WI 53154
15,258 SF warehouse on 3.99 acres with seven drive-in doors, 13'–16' clear heights, and paved parking/storage.
Property Size15,258 SF
Lot Size3.99 Acres
Price / SF$97.65
Days on Market120
Property Features for 6830 S Howell Ave
General Information
Standard status
Active
Size
15,258 SF
Lot size
3.99 Acres
Zoning
B-4
Site & Location
Traffic Count
18,900 vehicles/day
Road Access
Yes
Outdoor Storage
Yes
Utilities to Site
Yes
Warehouse & Industrial
Clear Height
16 ft
Drive-In Doors
7
Additional Details
Flexible Term
Yes
Taxes and HOA fees
Annual Taxes
$16,157
Amenities
municipal utilities
exterior lighting
paved parking/storage areas
Listing Agency:
Paradigm Real Estate
Listed By:
Brian Parrish · License #5673790
(262) 717-5151
Source:
Exprealty
Added: May 11
Changed: Aug 23
Last Checked: Sep 7 at 12:35PM
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 Paradigm Real Estate
Investment Insights
Based on property information with market context.
This 15,258 SF warehouse flex-type property sits on 3.99 acres (3.34 usable acres, TBV) and is offered for sale or lease. The facility includes seven drive-in doors and clear heights ranging from 13' to 16', supported by municipal utilities and exterior lighting. The site is designed for operational needs with ample paved parking and paved storage areas, and the seller notes turnkey buildout options are available.
Located at 6830 S Howell Ave in Oak Creek, the property benefits from strong frontage on Howell Avenue with traffic counts of approximately 18,900 VPD. Zoning is B-4 General Business, which allows a wide range of commercial, retail, office, hospitality, medical, and mixed-use residential uses, subject to approvals.
For buyers and tenants evaluating redevelopment or flexible future use, this is a single-site offering with straightforward access for vehicles and distribution-style operations, combined with broad zoning flexibility in a mixed-use area.
Located at 6830 S Howell Ave in Oak Creek, the property benefits from strong frontage on Howell Avenue with traffic counts of approximately 18,900 VPD. Zoning is B-4 General Business, which allows a wide range of commercial, retail, office, hospitality, medical, and mixed-use residential uses, subject to approvals.
For buyers and tenants evaluating redevelopment or flexible future use, this is a single-site offering with straightforward access for vehicles and distribution-style operations, combined with broad zoning flexibility in a mixed-use area.
Key Highlights
- 15,258 SF warehouse on 3.99 acres (3.34 usable acres)
- B‑4 General Business zoning with broad commercial, retail, office, hospitality, medical, and mixed‑use residential uses (subject to approvals)
- Frontage on Howell Avenue with approx. 18,900 VPD traffic counts
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
$134,213
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
9.01%
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%
$2,684,260
$2.7M
Cap Rate 7%
$1,917,329
$1.9M
Cap Rate 9%
$1,491,256
$1.5M
Market Conditions
NOI Build-Up for 15,258 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
$221.5K $14.52/SF
− Vacancy
−$15.1K −$0.99/SF
EGI
$206.5K $13.53/SF
− OpEx
−$72.3K −$4.74/SF
NOI
$134.2K $8.80/SF
Area
Milwaukee County, WI
Vacancy
6.80%
Lease Rate
$14.52 /SF/Yr
Expense Ratio
35.00%
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%
$2,684,260
Cap Rate 7%
$1,917,329
Cap Rate 9%
$1,491,256
Alternative Uses
Best Use
Flex RnD
$1.92M
$1.68M – $2.24M
NOI $134,213 @ 7.0% cap · market cap 9.01%
Second Best
Warehouse
$962.8K
$842.4K – $1.12M
NOI $67,395 @ 7.0% cap · market cap 4.52%
Theoretical Best
Office A
$3.62M
$3.17M – $4.22M
NOI $253,276 @ 7.0% cap · market cap 17.00%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
16 ft
Clear height
7
Drive-in doors
18,900 VPD
Traffic count
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
234
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 53154, WI
36,497
Population
15,602
Households
2.3
Avg Household Size
39
Median Age
38%
College-Educated
95%
High-School Grad
28.5 sq mi
ZIP Area
1,281
Density / Sq Mi
$93,120
Median Household Income
$57,223
Median Earnings
$1,397
Median Rent
$305,100
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 - 15,258 SF warehouse on 3.99 acres with seven drive-in doors, 13'–16' clear heights, and paved parking/storage.
Where is this flex space located?
The property is located at 6830 S Howell Ave Oak Creek, WI.
What is the asking price?
The asking price for this property is $1,490,000.
What are key features of this property?
This property features: 15,258 SF warehouse on 3.99 acres (3.34 usable acres); B‑4 General Business zoning with broad commercial, retail, office, hospitality, medical, and mixed‑use residential uses (subject to approvals); Frontage on Howell Avenue with approx. 18,900 VPD traffic counts
