Climate-Controlled Self Storage
New
For Sale
$5,000,000
801 E Centralia St, Elkhorn, WI 53121
Self-storage property with multiple storage formats, outdoor parking, and access from Interstate 43.
Property Size42,066 SF
Price / SF$118.86
Days on Market6
Property Features for 801 E Centralia St
General Information
Standard status
Active
Size
42,066 SF
Property subtype
Self-Storage Facility
Occupancy
91%
Additional Details
Cap Rate
6.85%
Highway Access
Yes
Amenities
Assumable SBA 504 Financing
Operational Upside
Expansion Potential
Strategic I-43 Location
Favorable Demographics
Building Details
Building Size
42,066 SF
Year Built
2016
Listing Agency:
Marcus & Millichap - Chicago Oak Brook
(630) 570-2206
Listed By:
Jon Silvers · License #License(s): IL: 475.212716, WI: 112459-94
(630) 570-2206
Source:
Marcusmillichap
Added: Aug 26
Changed: Aug 30
Last Checked: Aug 30 at 1:16PM
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 Marcus & Millichap - Chicago Oak Brook
Investment Insights
Based on property information with market context.
This self-storage facility, constructed in 2016, contains 42,066 square feet and supports several customer storage formats. The property includes both climate-controlled and conventional storage units, along with outdoor parking areas.
Located at 801 E Centralia St in Elkhorn, Wisconsin, the facility is accessible from Interstate 43. The offering also reflects a 6.85% cap rate and an income-producing operating profile.
Located at 801 E Centralia St in Elkhorn, Wisconsin, the facility is accessible from Interstate 43. The offering also reflects a 6.85% cap rate and an income-producing operating profile.
Key Highlights
- 42,066‑square‑foot self‑storage facility
- Built in 2016
- Includes climate‑controlled and non‑climate‑controlled storage
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
$426,499
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
8.53%
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%
$8,529,980
$8.5M
Cap Rate 7%
$6,092,843
$6.1M
Cap Rate 9%
$4,738,878
$4.7M
Market Conditions
NOI Build-Up for 42,066 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
$504.8K $12.00/SF
− Vacancy
−$3.0K −$0.07/SF
EGI
$501.8K $11.93/SF
− OpEx
−$75.3K −$1.79/SF
NOI
$426.5K $10.14/SF
Area
Walworth County, WI
Vacancy
0.60%
Lease Rate
$12.00 /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%
$8,529,980
Cap Rate 7%
$6,092,843
Cap Rate 9%
$4,738,878
Alternative Uses
Best Use
Warehouse
$6.09M
$5.33M – $7.11M
NOI $426,499 @ 7.0% cap · market cap 8.53%
Second Best
Self Storage
$5.69M
$4.98M – $6.64M
NOI $398,584 @ 7.0% cap · market cap 7.97%
Theoretical Best
Specialty Retail
$8.12M
$7.10M – $9.47M
NOI $568,270 @ 7.0% cap · market cap 11.37%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
197
Businesses Nearby
Explore this area
Business Placement
Demographics for 53121, WI
19,222
Population
8,397
Households
2.3
Avg Household Size
42
Median Age
33%
College-Educated
94%
High-School Grad
114.4 sq mi
ZIP Area
168
Density / Sq Mi
$83,635
Median Household Income
$45,112
Median Earnings
$1,031
Median Rent
$287,900
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.
Frequently Asked Questions
What type of property is this?
Self storage facility - Self-storage property with multiple storage formats, outdoor parking, and access from Interstate 43.
Where is this self storage facility located?
The property is located at 801 E Centralia St Elkhorn, WI.
What is the asking price?
The asking price for this property is $5,000,000.
What are key features of this property?
This property features: 42,066‑square‑foot self‑storage facility; Built in 2016; Includes climate‑controlled and non‑climate‑controlled storage
