Delafield Flex Redevelopment
805 Wells St Delafield, WI 53018
805 Wells St, Delafield, WI, 53018
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For Sale
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Flex building and vacant parcel in Downtown Delafield.
Property Size6,500 SF
Lot Size0.82 Acres
Price / SF$276.92
Days on Market775
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 Checked: Jul 19 at 3:32 am
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
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.
Local Financial Insights For Mixed Use
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $140.4k | $21.60 |
| − Vacancy | −$16.8k | −$2.59 |
| EGI | $123.6k | $19.01 |
| − OpEx | −$46.3k | −$7.13 |
| NOI | $77.2k | $11.88 |
6,500 SF · lease $21.60/SF/yr · vacancy 12.00% · expense 37.50%
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 local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Lifetime Renovations
General Contractor
Lifetime Commercial Radon ...
General Contractor
Similar For Sale Nearby
FAQs
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.
