Multi-Tenant Warehouse with Drive-In
For Sale
Contact for pricing
910 West Sunset Drive, Waukesha, WI 53186
Multi-suite industrial property with drive-in access and annual rent escalations.
Property Size11,000 SF
Price / SF$111.48
Days on Market12
Property Features for 910 West Sunset Drive
General Information
Standard status
Active
Size
11,000 SF
Class
B
Property subtype
Industrial
Lease Type
NNN
Investment Type
Stabilized
Additional Details
Drive-In Doors
6
Building Details
Year Built
1980
Buildings
1
Tenancy
Multi
Listing Agency:
Marcus & Millichap - Milwaukee
Listed By:
Peyton Mueller · License #112571-94
Source:
Crexi
Added: Aug 24
Changed: Sep 1
Last Checked: Sep 1 at 10:11PM
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 - Milwaukee
Investment Insights
Based on property information with market context.
Built in 1980, this 11,000-square-foot warehouse property is arranged across five suites and occupied by four tenants. Six drive-in doors support individual suite access and accommodate a range of industrial operations.
The property is positioned in a retail-oriented corridor within Waukesha County. Lease terms include annual rent escalations of 3.5%, providing a defined mechanism for scheduled rent growth.
The property is positioned in a retail-oriented corridor within Waukesha County. Lease terms include annual rent escalations of 3.5%, providing a defined mechanism for scheduled rent growth.
Key Highlights
- 11,000‑square‑foot warehouse property built in 1980
- Five suites occupied by four tenants
- Six drive‑in doors provide suite‑level access
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
$48,587
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
3.96%
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%
$971,740
$971.7K
Cap Rate 7%
$694,100
$694.1K
Cap Rate 9%
$539,856
$539.9K
Market Conditions
NOI Build-Up for 11,000 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
$60.2K $5.47/SF
− Vacancy
−$3.0K −$0.27/SF
EGI
$57.2K $5.20/SF
− OpEx
−$8.6K −$0.78/SF
NOI
$48.6K $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%
$971,740
Cap Rate 7%
$694,100
Cap Rate 9%
$539,856
Alternative Uses
Best Use
Warehouse
$694.1K
$607.3K – $809.8K
NOI $48,587 @ 7.0% cap · market cap 3.96%
Second Best
—
—
no second resolved use
Theoretical Best
Flex RnD
$5.61M
$4.91M – $6.55M
NOI $392,985 @ 7.0% cap · market cap 32.05%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
6
Drive-in doors
Location Intelligence
Trade Area within ½ mile
528
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 53186, WI
32,332
Population
15,066
Households
2.1
Avg Household Size
38
Median Age
39%
College-Educated
95%
High-School Grad
12.6 sq mi
ZIP Area
2,566
Density / Sq Mi
$74,596
Median Household Income
$42,007
Median Earnings
$1,180
Median Rent
$277,800
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?
Warehouse - Multi-suite industrial property with drive-in access and annual rent escalations.
Where is this warehouse located?
The property is located at 910 West Sunset Drive Waukesha, WI.
What is the asking price?
The asking price for this property is $1,226,299.
What are key features of this property?
This property features: 11,000‑square‑foot warehouse property built in 1980; Five suites occupied by four tenants; Six drive‑in doors provide suite‑level access
