Industrial Flex Warehouse
For Sale
Contact for pricing
705 W Fulton St, Waupaca, WI 54981
Industrial flex warehouse with multiple loading doors, refrigerated cooler/freezer, and ample paved parking on 3.56 acres.
Property Size54,010 SF
Lot Size3.56 Acres
Price / SF$36.10
Days on Market62
Property Features for 705 W Fulton St
General Information
Standard status
Active
Size
54,010 SF
Lot size
3.56 Acres
Property subtype
INDUSTRIAL
Additional Details
Dock-High Doors
5
Listing Agency:
Gaughan Companies
(651) 255-5558
Listed By:
Dan Hebert
(651) 255-5558
Source:
Moodyscre
Added: Jun 12
Changed: Aug 8
Last Checked: Jun 20 at 6:48AM
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 Gaughan Companies
Investment Insights
Based on property information with market context.
This industrial flex warehouse facility offers approximately 54,010 square feet on 3.56 acres, configured for distribution and light industrial use. The building includes an industrial/flex layout with five 8' x 8' loading dock doors, along with a large refrigerated cooler/freezer room to support temperature-controlled storage needs. Multiple loading areas are built into the operations flow, supported by ample paved parking for vehicles and deliveries.
The property is positioned for strong regional access, making it practical for businesses that rely on consistent shipping and receiving within the surrounding market. With a distribution-focused layout and several loading points, the site is designed to handle frequent inbound and outbound activity.
For buyers and operators, the combination of dock doors, multiple loading areas, and a substantial refrigerated space can support a range of distribution and warehouse-oriented businesses that need both general storage and temperature-controlled handling. The acreage and paved parking help accommodate delivery operations, employee and visitor parking, and day-to-day logistics at the site level.
The property is positioned for strong regional access, making it practical for businesses that rely on consistent shipping and receiving within the surrounding market. With a distribution-focused layout and several loading points, the site is designed to handle frequent inbound and outbound activity.
For buyers and operators, the combination of dock doors, multiple loading areas, and a substantial refrigerated space can support a range of distribution and warehouse-oriented businesses that need both general storage and temperature-controlled handling. The acreage and paved parking help accommodate delivery operations, employee and visitor parking, and day-to-day logistics at the site level.
Key Highlights
- Approx. 54,010 SF industrial/flex warehouse on 3.56 acres
- Industrial/flex layout with five 8' x 8' loading dock doors
- Large refrigerated cooler/freezer room
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
$135,930
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
6.97%
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%
$2,718,600
$2.7M
Cap Rate 7%
$1,941,857
$1.9M
Cap Rate 9%
$1,510,333
$1.5M
Market Conditions
NOI Build-Up for 54,010 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
$220.4K $4.08/SF
− Vacancy
−$11.2K −$0.21/SF
EGI
$209.1K $3.87/SF
− OpEx
−$73.2K −$1.36/SF
NOI
$135.9K $2.52/SF
Area
Waupaca County, WI
Vacancy
5.10%
Lease Rate
$4.08 /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%
$2,718,600
Cap Rate 7%
$1,941,857
Cap Rate 9%
$1,510,333
Alternative Uses
Best Use
Warehouse
$5.51M
$4.82M – $6.42M
NOI $385,494 @ 7.0% cap · market cap 19.77%
Second Best
Industrial
$4.54M
$3.97M – $5.29M
NOI $317,465 @ 7.0% cap · market cap 16.28%
Theoretical Best
Office A
$10.12M
$8.85M – $11.80M
NOI $708,167 @ 7.0% cap · market cap 36.32%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
5
Dock-high doors
Location Intelligence
Trade Area within ½ mile
211
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 54981, WI
14,998
Population
8,253
Households
1.8
Avg Household Size
47
Median Age
28%
College-Educated
94%
High-School Grad
131.6 sq mi
ZIP Area
114
Density / Sq Mi
$76,821
Median Household Income
$45,326
Median Earnings
$800
Median Rent
$204,100
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 - Industrial flex warehouse with multiple loading doors, refrigerated cooler/freezer, and ample paved parking on 3.56 acres.
Where is this flex space located?
The property is located at 705 W Fulton St Waupaca, WI.
What is the asking price?
The asking price for this property is $1,950,000.
What are key features of this property?
This property features: Approx. 54,010 SF industrial/flex warehouse on 3.56 acres; Industrial/flex layout with five 8' x 8' loading dock doors; Large refrigerated cooler/freezer room
