Industrial Property with Established
For Sale
$3,293,000
856 Armour Rd, Oconomowoc, WI 53066
Well-maintained industrial property with stable income and functional features.
Property Size46,000 SF
Lot Size2.27 Acres
Price / SF$71.59
Days on Market171
Property Features for 856 Armour Rd
General Information
Standard status
Active
Size
46,000 SF
Class
A
Lot size
2.27 Acres
Property subtype
industrial
Listing Agency:
Milwaukee
(414) 944-2200
Listed By:
James Young · License #49879-90
(414) 944-2105
Source:
Property.jll
Added: May 8
Changed: Oct 12
Last Checked: Oct 24 at 1:57PM
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 Milwaukee
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This well-maintained industrial property offers stable, in-place income with established tenants, including Omco Sumo and Lake Area Free Clinic. The 41,857 square foot building, situated on 2.273 acres, supports a variety of uses with functional features including overhead cranes. Recent capital improvements, including a newer roof and HVAC systems, reduce near-term expenses and enhance long-term reliability. The building's durable construction and tenant-friendly infrastructure contribute to consistent occupancy and operational stability. The property also offers easy access to major roadways, enhancing convenience for tenants and operations.
Key Highlights
- Stable, in‑place income with established tenants (Omco Sumo and Lake Area Free Clinic).
- Newer roof and HVAC systems reduce near‑term expenses.
- Functional features including overhead cranes support a variety of uses.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$167,503
Cap Rate
5.09%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,350,060
$3.4M
Cap Rate 7%
$2,392,900
$2.4M
Cap Rate 9%
$1,861,144
$1.9M
Market Conditions
NOI Build-Up for 46,000 SF
Gross rent
$251.6K $5.47/SF
− Vacancy
−$12.3K −$0.27/SF
EGI
$239.3K $5.20/SF
− OpEx
−$71.8K −$1.56/SF
NOI
$167.5K $3.64/SF
Area
Waukesha County, WI
Vacancy
4.90%
Lease Rate
$5.47 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,350,060
Cap Rate 7%
$2,392,900
Cap Rate 9%
$1,861,144
Alternative Uses
Best Use
Industrial
$2.39M
$2.09M – $2.79M
NOI $167,503 @ 7.0% cap · market cap 5.09%
Second Best
—
—
no second resolved use
Theoretical Best
Flex RnD
$23.48M
$20.54M – $27.39M
NOI $1,643,394 @ 7.0% cap · market cap 49.91%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Contact the owner directly
Get the owner's phone numbers and email
Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
590
Businesses Nearby
Explore this area
Business Placement
Demographics for 53066, WI
36,595
Population
16,074
Households
2.3
Avg Household Size
45
Median Age
47%
College-Educated
97%
High-School Grad
103.2 sq mi
ZIP Area
355
Density / Sq Mi
$111,348
Median Household Income
$55,563
Median Earnings
$1,263
Median Rent
$402,800
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Industrial in Midwest region
Frequently Asked Questions
What type of property is this?
Industrial property - Well-maintained industrial property with stable income and functional features.
Where is this industrial property located?
The property is located at 856 Armour Rd Oconomowoc, WI.
What is the asking price?
The asking price for this property is $3,293,000.
What are key features of this property?
This property features: Stable, in‑place income with established tenants (Omco Sumo and Lake Area Free Clinic).; Newer roof and HVAC systems reduce near‑term expenses.; Functional features including overhead cranes support a variety of uses.
