Manufacturing Campus with Clean
For Sale
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9201 Washington Ave, Sturtevant, WI 53177
Large-scale industrial facility with specialized production infrastructure and onsite power resilience.
Property Size642,000 SF
Price / SF$70.09
Days on Market53
Property Features for 9201 Washington Ave
General Information
Standard status
Active
Size
642,000 SF
Property subtype
INDUSTRIAL
Amenities
11,700 SF Clean Room
1.8 MW Rooftop Solar Array
Backup Generators
Dip & Powder Coating Line
Listing Agency:
Cushman & Wakefield | Boerke
(414) 347-1000
Listed By:
Jeffrey Hoffman
(414) 322-4778
Source:
Moodyscre
Added: Jul 30
Changed: Sep 16
Last Checked: Sep 19 at 10:52AM
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 Cushman & Wakefield | Boerke
Investment Insights
Based on property information with market context.
This manufacturing campus encompasses 642,000 square feet and includes an 11,700-square-foot clean room, a dip and powder coating line, backup generators, and a 1.8 MW rooftop solar array. The improvements support specialized production and finishing operations within a substantial industrial footprint.
The property is located at 9201 Washington Ave in Sturtevant, Wisconsin. Its combination of manufacturing space, controlled-environment production capability, coating equipment, renewable power generation, and backup generation creates a highly configured industrial facility.
The property is located at 9201 Washington Ave in Sturtevant, Wisconsin. Its combination of manufacturing space, controlled-environment production capability, coating equipment, renewable power generation, and backup generation creates a highly configured industrial facility.
Key Highlights
- 642,000‑square‑foot manufacturing campus
- 11,700 SF clean room
- 1.8 MW rooftop solar array
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
$3,119,735
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
6.93%
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%
$62,394,700
$62.4M
Cap Rate 7%
$44,567,643
$44.6M
Cap Rate 9%
$34,663,722
$34.7M
Market Conditions
NOI Build-Up for 642,000 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
$5.01M $7.80/SF
− Vacancy
−$550.8K −$0.86/SF
EGI
$4.46M $6.94/SF
− OpEx
−$1.34M −$2.08/SF
NOI
$3.12M $4.86/SF
Area
Racine County, WI
Vacancy
11.00%
Lease Rate
$7.80 /SF/Yr
Expense Ratio
30.00%
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%
$62,394,700
Cap Rate 7%
$44,567,643
Cap Rate 9%
$34,663,722
Alternative Uses
Best Use
Industrial
$44.57M
$39.00M – $52.00M
NOI $3,119,735 @ 7.0% cap · market cap 6.93%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$154.39M
$135.09M – $180.12M
NOI $10,807,171 @ 7.0% cap · market cap 24.02%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
205
Businesses Nearby
Explore this area
Business Placement
Demographics for 53177, WI
8,482
Population
2,566
Households
3.3
Avg Household Size
40
Median Age
24%
College-Educated
90%
High-School Grad
27.6 sq mi
ZIP Area
307
Density / Sq Mi
$77,409
Median Household Income
$46,314
Median Earnings
$1,295
Median Rent
$228,900
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 - Large-scale industrial facility with specialized production infrastructure and onsite power resilience.
Where is this manufacturing property located?
The property is located at 9201 Washington Ave Sturtevant, WI.
What is the asking price?
The asking price for this property is $45,000,000.
What are key features of this property?
This property features: 642,000‑square‑foot manufacturing campus; 11,700 SF clean room; 1.8 MW rooftop solar array
