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Redevelopment Opportunity Cold Storage Building

824 W Delavan Dr, Janesville, WI 53546

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For Sale

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12,492 sq. ft. building on 1.13-acre lot for sale.

Type:Retail, Office, Industrial, Mixed Use, Special Purpose

Property size:

12,492 SF

Lot size:

1.13 Acres

Price / SF:

$60/SF

HighLights

Redevelopment opportunity with M‑2 General Industrial zoning on a 1.13‑acre lot.
Located within an Opportunity Zone and TIF availability.
Existing cold storage building with approximately 3,000 sq. ft. freezer.
12,492 sq. ft. building size.
Features (4) exterior docks and 14' clear height.
Outdoor storage allowance.

We can help!

Contact an agent

Michael Tomlin

For Sale

Contact for pricing

12,492 sq. ft. building on 1.13-acre lot for sale.

Type:Retail, Office, Industrial, Mixed Use, Special Purpose

Property size:

12,492 SF

Lot size:

1.13 Acres

Price / SF:

$60/SF

Added:: May 30, 2024
Days on Market:: 760
Last Refresh:: May 12 at 10:40 pm

Property Features for 824 W Delavan Dr

General Information

Standard status: Active
Size: 12,492 SF
Lot size: 1.13 Acres
Property subtype: Retail, Office, Industrial, Mixed Use, Special Purpose

We can help!

Contact an agent

Michael Tomlin

Listing office The Dickman Company Inc

Listing date May 30, 2024

Source Crexi

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 The Dickman Company Inc

HighLights

Redevelopment opportunity with M‑2 General Industrial zoning on a 1.13‑acre lot.
Located within an Opportunity Zone and TIF availability.
Existing cold storage building with approximately 3,000 sq. ft. freezer.
12,492 sq. ft. building size.
Features (4) exterior docks and 14' clear height.
Outdoor storage allowance.

Overview

Located at 824 W Delavan Dr, Janesville, WI 53546, this property presents a redevelopment opportunity. The building offers 12,492 sq. ft. of space, including a freezer size of approximately 3,000 sq. ft. The property is situated on a 1.13-acre lot and is zoned M-2 General Industrial. The building features metal construction and a 14' clear height, along with four exterior docks. The site allows for outdoor storage and is located within an Opportunity Zone. TIF availability further enhances the investment potential. The property is suitable for investors or owner-users. The current NOI is $85,800.

Local Financial Insights For Warehouse

Simulate Cap Rate and NOI

NOI Build-Up

Component	$	$/SF
Gross rent	$51.0k	$4.08
− Vacancy	−$4.6k	−$0.37
EGI	$46.4k	$3.71
− OpEx	−$7.0k	−$0.56
NOI	$39.4k	$3.16

12,492 SF · lease $4.08/SF/yr · vacancy 9.00% · expense 15.00%

Alternative Uses

Best Use

Warehouse

$563.2K

$492.8K – $657.1K (±1% cap)

NOI $39,423 @ 7.0% cap · market cap 5.26%

Second Best

Industrial

$496.4K

$434.4K – $579.2K (±1% cap)

NOI $34,750 @ 7.0% cap · market cap 4.63%

Theoretical Best

Office A

$3.00M

$2.63M – $3.50M (±1% cap)

NOI $210,135 @ 7.0% cap · market cap 28.02%

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

Property Profile Location Intelligence

Current Use by Public Records

Tree Enterprise Landscaping

Suggested Use

Similar Places Nearby

SRB Storage LLC — 609 S Walnut St, Janesville, WI 53548
TOPMAN TRANSPORT MOVING & STORAGE — 215 Linn St, Janesville, WI 53548

Location Insight

Map
Local Demand

City: Janesville
County: Rock
State: Wisconsin
Longitude: -89.0293667
Latitude: 42.6675079

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For sale
Warehouses
WI
Janesville
53546
824 W Delavan Dr

What type of property is this?

Warehouse - 12,492 sq. ft. building on 1.13-acre lot for sale.

Where is this warehouse located?

The property is located at 824 W Delavan Dr Janesville, WI.

What is the asking price?

The asking price for this property is $750,000.

What are key features of this property?

This property features: Redevelopment opportunity with M‑2 General Industrial zoning on a 1.13‑acre lot.; Located within an Opportunity Zone and TIF availability.; Existing cold storage building with approximately 3,000 sq. ft. freezer.