Industrial Distribution
For Sale
$1,900,000
900 Armour Rd, Oconomowoc, WI 53066
Industrial complex with a main building and outbuilding, totaling 23,750 SF, zoned Bus Park Industrial in Oconomowoc, WI.
Property Size23,750 SF
Price / SF$80
Days on Market122
Property Features for 900 Armour Rd
General Information
Standard status
Active
Size
23,750 SF
Taxes and HOA fees
Annual Taxes
$8,469
Listing Agency:
Property Dynamics/Appraisal Specialists
Listed By:
Erin Waldron
(262) 490-0670
Source:
Exprealty
Added: May 8
Changed: Sep 2
Last Checked: Sep 5 at 12:12PM
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 Property Dynamics/Appraisal Specialists
Investment Insights
Based on property information with market context.
This industrial complex includes an 18,800 SF main building and a 4,950 SF outbuilding on 1.75 acres, totaling 23,750 SF. The property is described as suitable for manufacturing, warehousing, distribution, or heavy industrial operations. A key feature is a high-voltage, high-amperage electrical service, which supports power-intensive use cases.
The site is located at 900 Armour Rd in Oconomowoc, Wisconsin, and is zoned Bus Park Industrial. The property is also marketed as offering visibility and access within a Waukesha County industrial corridor.
Overall, this is a multi-building industrial offering designed to accommodate a range of industrial users requiring additional site capacity and robust electrical capability.
The site is located at 900 Armour Rd in Oconomowoc, Wisconsin, and is zoned Bus Park Industrial. The property is also marketed as offering visibility and access within a Waukesha County industrial corridor.
Overall, this is a multi-building industrial offering designed to accommodate a range of industrial users requiring additional site capacity and robust electrical capability.
Key Highlights
- Industrial complex on 1.75 acres in Oconomowoc, WI, at 900 Armour Rd.
- Zoned Bus Park Industrial for manufacturing, warehousing, distribution, or heavy industrial use.
- Includes an 18,800 SF main building plus a 4,950 SF outbuilding for 23,750 SF total.
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
$104,904
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
5.52%
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%
$2,098,080
$2.1M
Cap Rate 7%
$1,498,629
$1.5M
Cap Rate 9%
$1,165,600
$1.2M
Market Conditions
NOI Build-Up for 23,750 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
$129.9K $5.47/SF
− Vacancy
−$6.5K −$0.27/SF
EGI
$123.4K $5.20/SF
− OpEx
−$18.5K −$0.78/SF
NOI
$104.9K $4.42/SF
Area
Waukesha County, WI
Vacancy
5.00%
Lease Rate
$5.47 /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%
$2,098,080
Cap Rate 7%
$1,498,629
Cap Rate 9%
$1,165,600
Alternative Uses
Best Use
Warehouse
$1.50M
$1.31M – $1.75M
NOI $104,904 @ 7.0% cap · market cap 5.52%
Second Best
Industrial
$1.24M
$1.08M – $1.44M
NOI $86,483 @ 7.0% cap · market cap 4.55%
Theoretical Best
Flex RnD
$12.12M
$10.61M – $14.14M
NOI $848,491 @ 7.0% cap · market cap 44.66%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
478
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
Market
Vacancy Rate% for Industrial in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Manufacturing property - Industrial complex with a main building and outbuilding, totaling 23,750 SF, zoned Bus Park Industrial in Oconomowoc, WI.
Where is this manufacturing property located?
The property is located at 900 Armour Rd Oconomowoc, WI.
What is the asking price?
The asking price for this property is $1,900,000.
What are key features of this property?
This property features: Industrial complex on 1.75 acres in Oconomowoc, WI, at 900 Armour Rd.; Zoned Bus Park Industrial for manufacturing, warehousing, distribution, or heavy industrial use.; Includes an 18,800 SF main building plus a 4,950 SF outbuilding for 23,750 SF total.
