Garage Condo Storage with Oversized
For Sale
$2,800,000
LT0 Hobbs Dr, Delavan, WI 53115
New construction garage condo storage units with oversized 12' x 14' doors and customizable interior options.
Property Size20,000 SF
Price / SF$140
Days on Market246
Property Features for LT0 Hobbs Dr
General Information
Standard status
Active
Size
20,000 SF
Listing Agency:
Anderson Commercial Group, LLC
(414) 425-2700
Listed By:
Kristen Parks · License #9034194
(414) 550-8925
Source:
Exprealty
Added: Feb 18
Changed: Oct 13
Last Checked: Oct 20 at 9:18PM
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 Anderson Commercial Group, LLC
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
Now available at 2008 Hobbs Drive in Delavan, Wisconsin, this newly constructed, energy-efficient garage condo storage property is presented as smart, technology-enabled, high-end new construction. The offering consists of +/- 2,500 square foot units that can be customized with interior amenities such as kitchens, baths, bars, and game room options. The storage configuration includes oversized 12' x 14' doors designed to accommodate boats, RVs, lifted trucks, and contractor storage.
The property is located in Walworth County and is described as being near Delavan Lake, with Lake Geneva a short drive away, supporting an outdoor-oriented buyer profile.
For users and investors seeking storage built as individual garage condo units with large access doors and interior customization, this asset offers a purpose-built configuration tailored to larger vehicle and equipment storage needs.
The property is located in Walworth County and is described as being near Delavan Lake, with Lake Geneva a short drive away, supporting an outdoor-oriented buyer profile.
For users and investors seeking storage built as individual garage condo units with large access doors and interior customization, this asset offers a purpose-built configuration tailored to larger vehicle and equipment storage needs.
Key Highlights
- New construction garage condo units near Delavan Lake in Delavan, Wisconsin (Walworth County).
- Units offer about 2,500 sq ft each and are fully customizable with kitchens, baths, bars, and game room options.
- Oversized 12' x 14' doors designed for boats, RVs, lifted trucks, or contractor storage.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$202,776
Cap Rate
7.24%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$4,055,520
$4.1M
Cap Rate 7%
$2,896,800
$2.9M
Cap Rate 9%
$2,253,067
$2.3M
Market Conditions
NOI Build-Up for 20,000 SF
Gross rent
$240.0K $12.00/SF
− Vacancy
−$1.4K −$0.07/SF
EGI
$238.6K $11.93/SF
− OpEx
−$35.8K −$1.79/SF
NOI
$202.8K $10.14/SF
Area
Walworth County, WI
Vacancy
0.60%
Lease Rate
$12.00 /SF/Yr
Expense Ratio
15.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$4,055,520
Cap Rate 7%
$2,896,800
Cap Rate 9%
$2,253,067
Alternative Uses
Best Use
Warehouse
$2.90M
$2.53M – $3.38M
NOI $202,776 @ 7.0% cap · market cap 7.24%
Second Best
Self Storage
$2.71M
$2.37M – $3.16M
NOI $189,504 @ 7.0% cap · market cap 6.77%
Theoretical Best
Specialty Retail
$3.86M
$3.38M – $4.50M
NOI $270,180 @ 7.0% cap · market cap 9.65%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
492
Businesses Nearby
Explore this area
Business Placement
Demographics for 53115, WI
15,884
Population
8,848
Households
1.8
Avg Household Size
43
Median Age
25%
College-Educated
89%
High-School Grad
71.9 sq mi
ZIP Area
221
Density / Sq Mi
$70,880
Median Household Income
$38,871
Median Earnings
$1,012
Median Rent
$225,900
Median Home Value
Market
Vacancy Rate% for Industrial in Midwest region
Frequently Asked Questions
What type of property is this?
Self storage facility - New construction garage condo storage units with oversized 12' x 14' doors and customizable interior options.
Where is this self storage facility located?
The property is located at LT0 Hobbs Dr Delavan, WI.
What is the asking price?
The asking price for this property is $2,800,000.
What are key features of this property?
This property features: New construction garage condo units near Delavan Lake in Delavan, Wisconsin (Walworth County).; Units offer about 2,500 sq ft each and are fully customizable with kitchens, baths, bars, and game room options.; Oversized 12' x 14' doors designed for boats, RVs, lifted trucks, or contractor storage.
