Delafield Flex Redevelopment
For Sale
Contact for pricing
805 Wells St, Delafield, WI 53018
Flex building and vacant parcel in Downtown Delafield.
Property Size6,500 SF
Lot Size0.82 Acres
Price / SF$276.92
Days on Market867
Property Features for 805 Wells St
General Information
Standard status
Active
Size
6,500 SF
Lot size
0.82 Acres
Property subtype
Mixed Use, Retail
Listing Agency:
CBRE - Milwaukee
Listed By:
Devin Tessmer · License #WI
Source:
Crexi
Added: Jun 5, 2024
Changed: Oct 8
Last Checked: Oct 16 at 5:41AM
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 CBRE - Milwaukee
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Investment Insights
Based on property information with market context.
This property presents a flex or redevelopment opportunity in historic Downtown Delafield. It includes a 6,500-square-foot flex building on a 0.43-acre parcel, along with an adjacent 0.39-acre vacant parcel. Situated in the heart of Lake Country, the location provides access to I-94 and benefits from strong surrounding household incomes. Downtown Delafield features a mix of community events, office tenants, retailers, restaurants, and nightlife. The property is near new multi-family and single-family residential developments, as well as the upcoming Grain Development, a $25 million project by Hendricks, which will offer over 78,000 square feet of office and retail space.
Key Highlights
- Rare flex or redevelopment opportunity in historic Downtown Delafield.
- Includes a 6,500 SF flex building on 0.43 acres and an adjacent 0.39 acre vacant parcel.
- Located in the heart of "Lake Country" with great access to I‑94.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$77,220
Cap Rate
4.29%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,544,400
$1.5M
Cap Rate 7%
$1,103,143
$1.1M
Cap Rate 9%
$858,000
$858.0K
Market Conditions
NOI Build-Up for 6,500 SF
Gross rent
$140.4K $21.60/SF
− Vacancy
−$16.8K −$2.59/SF
EGI
$123.6K $19.01/SF
− OpEx
−$46.3K −$7.13/SF
NOI
$77.2K $11.88/SF
Area
Waukesha County, WI
Vacancy
12.00%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
37.50%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,544,400
Cap Rate 7%
$1,103,143
Cap Rate 9%
$858,000
Alternative Uses
Best Use
Flex RnD
$3.32M
$2.90M – $3.87M
NOI $232,219 @ 7.0% cap · market cap 12.90%
Second Best
Mixed Use
$1.10M
$965.3K – $1.29M
NOI $77,220 @ 7.0% cap · market cap 4.29%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
477
Businesses Nearby
Explore this area
Business Placement
Demographics for 53018, WI
7,396
Population
3,431
Households
2.2
Avg Household Size
49
Median Age
54%
College-Educated
99%
High-School Grad
11.2 sq mi
ZIP Area
660
Density / Sq Mi
$130,511
Median Household Income
$62,037
Median Earnings
$1,492
Median Rent
$485,200
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Industrial in Midwest region
Frequently Asked Questions
What type of property is this?
Mixed-use property - Flex building and vacant parcel in Downtown Delafield.
Where is this mixed-use property located?
The property is located at 805 Wells St Delafield, WI.
What is the asking price?
The asking price for this property is $1,800,000.
What are key features of this property?
This property features: Rare flex or redevelopment opportunity in historic Downtown Delafield.; Includes a 6,500 SF flex building on 0.43 acres and an adjacent 0.39 acre vacant parcel.; Located in the heart of "Lake Country" with great access to I‑94.
