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    606 Parkway Blvd Two Rivers, WI 54241

    For Sale
    $5,000,000

    Wisconsin Industrial Property: $5M

    Property size:
    318,783 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    370
    This expansive 318,783-square-foot industrial facility in Two Rivers, Wisconsin, presents a compelling investment opportunity. Situated on a 27-acre lot at 606 Parkway Blvd, this multi-tenant distribution and manufacturing center offers significant potential. Currently 40% occupied by a tenant with a lease expiring June 30, 2027 (rent roll available upon request), the property boasts 126,000 square feet of currently leased functional space to a small 3PL operator. The building features a mix of warehouse (85%) and office (15%) space, with clear heights ranging from 13'7" to 22', column spacing of 45'W x 40'L, and five loading docks, three drive-ins, and four truck wells. A wet sprinkler system is installed throughout. The property benefits from heavy-duty utilities, including city sewer and water. Built in 1957 and 1977, with renovations in 1963, 1973, 1978, and currently underway (2023-2024), an estimated $2,500,000 in additional renovations is projected to bring currently vacant sections to leasable condition, adding approximately 192,783 square feet of space. The asking price is $5,000,000, representing a 7.60% cap rate. Ample outdoor storage and parking are available. The property's location in Manitowoc County, Wisconsin, zip code 54241, offers excellent access to transportation networks.

    Property Features for 606 Parkway Blvd

    General Information

    Property type
    Distribution properties
    Square Feet
    318,783 SF
    Lot Size
    1,176,120 SF

    Building Details

    Year Built
    1957

    HighLights

    • 318,783 SF total building area.
    • 85% warehouse, 15% office space.
    • 126,000 SF of functional space currently leased.
    • 13'7" to 22' clear height.
    • 45' x 40' column spacing.
    • 5 docks, 3 drive‑ins, 4 truck wells.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Manufacturing properties

    Suggested Use

    Restaurant Realty agency Building Supply Spa & Massage Wholesale Shop Auto Repair Shop Hair Salon Nail Salon Gym & Fitness Hotel & Motel

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Two Rivers
    County
    Manitowoc
    State
    Wisconsin
    Longitude
    -87.58766
    Latitude
    44.138831

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    FAQs

    What type of property is this?
    Distribution property - Wisconsin Industrial Property: $5M
    Where is this distribution property located?
    The property is located at 606 Parkway Blvd Two Rivers, WI.
    What is the asking price?
    The asking price for this property is $5,000,000.
    What are key features of this property?
    This property features: 318,783 SF total building area.; 85% warehouse, 15% office space.; 126,000 SF of functional space currently leased.
    Request Owner's contact information
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    606 Parkway Blvd Two Rivers, WI 54241
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