Cold and Freezer Storage
For Sale
Contact for pricing
824 West Delavan Drive, Janesville, WI 53546
Cold/freezer storage on over one acre, currently producing rental income and allowing room for additional self-storage development.
Property Size12,490 SF
Price / SF$47.68
Days on Market98
Property Features for 824 West Delavan Drive
General Information
Standard status
Active
Size
12,490 SF
Class
C
Property subtype
Industrial
Zoning
M-2
Occupancy
16%
Lease Type
Modified Gross
Investment Type
Value Add
Net Operating Income
$36,000
Additional Details
Opportunity Zone
Yes
Building Details
Buildings
3
Tenancy
Multi
Listing Agency:
Slaby & Associates
Listed By:
Derek Morrison · License #111333-94
Source:
Crexi
Added: Jul 1
Changed: Sep 26
Last Checked: Oct 5 at 6:56PM
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 Slaby & Associates
Investment Insights
Based on property information with market context.
This property is a specialty cold and freezer storage facility built for temperature-controlled inventory, offering an owner-user and investment-friendly structure. It sits on more than one acre of land, with space that could accommodate additional self-storage development. The property is currently generating about $46,000 in annual rental income.
The asset is located at 824 West Delavan Drive in Janesville, Wisconsin, and is identified as being in an Opportunity Zone location. Public remarks indicate that potential TIF incentives may be available to improve project feasibility.
For tenants, buyers, or operators seeking temperature-controlled storage, this facility provides an on-site cold/freezer environment with existing income generation. For prospective value-add buyers, the combination of current rental income, the on-site acreage, and the possibility of incentive programs may support planning around lease-up and potential expansion, including additional office income as referenced in the public remarks. Prospective parties should review current lease terms, operating details, and the feasibility of any planned additional storage or office components as part of due diligence.
The asset is located at 824 West Delavan Drive in Janesville, Wisconsin, and is identified as being in an Opportunity Zone location. Public remarks indicate that potential TIF incentives may be available to improve project feasibility.
For tenants, buyers, or operators seeking temperature-controlled storage, this facility provides an on-site cold/freezer environment with existing income generation. For prospective value-add buyers, the combination of current rental income, the on-site acreage, and the possibility of incentive programs may support planning around lease-up and potential expansion, including additional office income as referenced in the public remarks. Prospective parties should review current lease terms, operating details, and the feasibility of any planned additional storage or office components as part of due diligence.
Key Highlights
- Cold/freezer storage investment on over 1 acre, with room for additional self‑storage development
- Currently generates $46,000 in annual rental income
- Estimated stabilized value exceeds $1,000,000 when fully leased
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$39,417
Cap Rate
6.62%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$788,340
$788.3K
Cap Rate 7%
$563,100
$563.1K
Cap Rate 9%
$437,967
$438.0K
Market Conditions
NOI Build-Up for 12,490 SF
Gross rent
$51.0K $4.08/SF
− Vacancy
−$4.6K −$0.37/SF
EGI
$46.4K $3.71/SF
− OpEx
−$7.0K −$0.56/SF
NOI
$39.4K $3.16/SF
Area
Rock County, WI
Vacancy
9.00%
Lease Rate
$4.08 /SF/Yr
Expense Ratio
15.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$788,340
Cap Rate 7%
$563,100
Cap Rate 9%
$437,967
Alternative Uses
Best Use
Warehouse
$563.1K
$492.7K – $657.0K
NOI $39,417 @ 7.0% cap · market cap 6.62%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.00M
$2.63M – $3.50M
NOI $210,102 @ 7.0% cap · market cap 35.28%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
156
Businesses Nearby
Explore this area
Business Placement
Demographics for 53546, WI
31,190
Population
12,816
Households
2.4
Avg Household Size
41
Median Age
26%
College-Educated
95%
High-School Grad
81.1 sq mi
ZIP Area
385
Density / Sq Mi
$73,430
Median Household Income
$45,481
Median Earnings
$1,076
Median Rent
$220,100
Median Home Value
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Market
Vacancy Rate% for Industrial in Midwest region
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Frequently Asked Questions
What type of property is this?
Refrigerated & cold storage - Cold/freezer storage on over one acre, currently producing rental income and allowing room for additional self-storage development.
Where is this refrigerated & cold storage located?
The property is located at 824 West Delavan Drive Janesville, WI.
What is the asking price?
The asking price for this property is $595,500.
What are key features of this property?
This property features: Cold/freezer storage investment on over 1 acre, with room for additional self‑storage development; Currently generates $46,000 in annual rental income; Estimated stabilized value exceeds $1,000,000 when fully leased
