Large Warehouse
For Sale
Contact for pricing
9201 Washington Avenue, Sturtevant, WI 53177
Substantial warehouse property with commercial and light industrial zoning designations.
Property Size641,997 SF
Price / SF$70.09
Days on Market14
Property Features for 9201 Washington Avenue
General Information
Standard status
Active
Size
641,997 SF
Total Parking Spaces
822
Property subtype
Industrial
Zoning
Commercial (C-1), Light Industrial (I-1)
Building Details
Stories
2
Listing Agency:
Cushman & Wakefield | Boerke
(414) 203-3016
Listed By:
Jeff Hoffman, CCIM · License #WI 90-57018
Source:
Crexi
Added: Jul 29
Changed: Aug 10
Last Checked: Aug 10 at 9:33AM
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 warehouse property contains 641,997 square feet and is identified for commercial and light industrial zoning. The zoning designations are Commercial (C-1) and Light Industrial (I-1), providing the property's documented land-use framework.
The facility is located at 9201 Washington Avenue in Sturtevant, Wisconsin 53177. No additional building features, site improvements, access details, or operating specifications are provided.
The facility is located at 9201 Washington Avenue in Sturtevant, Wisconsin 53177. No additional building features, site improvements, access details, or operating specifications are provided.
Key Highlights
- 641,997‑square‑foot warehouse property
- Commercial (C‑1) zoning designation
- Light Industrial (I‑1) zoning designation
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
$3,788,232
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
8.42%
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%
$75,764,640
$75.8M
Cap Rate 7%
$54,117,600
$54.1M
Cap Rate 9%
$42,091,467
$42.1M
Market Conditions
NOI Build-Up for 641,997 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
−$668.5K −$1.04/SF
NOI
$3.79M $5.90/SF
Area
Racine County, WI
Vacancy
11.00%
Lease Rate
$7.80 /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%
$75,764,640
Cap Rate 7%
$54,117,600
Cap Rate 9%
$42,091,467
Alternative Uses
Best Use
Warehouse
$54.12M
$47.35M – $63.14M
NOI $3,788,232 @ 7.0% cap · market cap 8.42%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$154.39M
$135.09M – $180.12M
NOI $10,807,121 @ 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
259
Businesses Nearby
Balanced
Demand for This Use
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- CubeSmart Self Storage — 1630 Wisconsin St, Sturtevant, WI 53177
Frequently Asked Questions
What type of property is this?
Warehouse - Substantial warehouse property with commercial and light industrial zoning designations.
Where is this warehouse located?
The property is located at 9201 Washington Avenue 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: 641,997‑square‑foot warehouse property; Commercial (C‑1) zoning designation; Light Industrial (I‑1) zoning designation
