Listing Agency: AssuredCRE LLC

Listed By: Steve Turner · License #8874194 Show Phone

Source: Moodyscre

Added: Sep 2, 2024 Changed: Oct 26 Last Checked: Oct 28 at 10:03AM

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Investment Insights

Based on property information with market context.

This property features a 98 x 48 warehouse with 4,400 square feet of space, complemented by three drive-in doors and a dock. It includes an operational feed mill and formerly had rail access. The property is situated on a 1.76-acre lot.

Key Highlights

• Operational feed mill
• 1.76 acre lot
• 98 x 48 warehouse

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$21,462

Cap Rate

6.41%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$429,240 $429.2K

Cap Rate 7%

$306,600 $306.6K

Cap Rate 9%

$238,467 $238.5K

Is this asking price fair?

Market Conditions

NOI Build-Up for 4,400 SF

Gross rent

$26.0K $5.91/SF

− Vacancy

−$754 −$0.17/SF

EGI

$25.2K $5.74/SF

− OpEx

−$3.8K −$0.86/SF

NOI

$21.5K $4.88/SF

Area

Outagamie County, WI

Vacancy

2.90%

Lease Rate

$5.91 /SF/Yr

Expense Ratio

15.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$429,240

Cap Rate 7%

$306,600

Cap Rate 9%

$238,467

Alternative Uses

Best Use

Warehouse

$306.6K

$268.3K – $357.7K (±1% cap)

NOI $21,462 @ 7.0% cap · market cap 6.41%

Second Best

Industrial

$252.5K

$220.9K – $294.6K (±1% cap)

NOI $17,675 @ 7.0% cap · market cap 5.28%

Theoretical Best

Office A

$1.21M

$1.06M – $1.42M (±1% cap)

NOI $84,920 @ 7.0% cap · market cap 25.35%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Who owns this building? See the owner, sales and loan history

Open Analytics

Current Use

Warehouses

Suggested Use

Top Pick Real Estate Agency Plumbing Service Grocery & Convenience Store Big Box & Wholesale Store (Bike/Boat/Book/etc) Store Home Appliance Store

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

19

Businesses Nearby

Balanced

Demand for This Use

Explore this area Business Placement

Market

Vacancy Rate% for Industrial in Midwest region

4.4% 2019

4.9% 2020

3.6% 2021

3.1% 2022

4.6% 2023

5% 2024

4.9% 2025

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Frequently Asked Questions

What type of property is this?

Warehouse - 1.76 acre lot with warehouse, feed mill, rail access.

Where is this warehouse located?

The property is located at N1849 Municipal Dr Greenville, WI.

What is the asking price?

The asking price for this property is $335,000.

What are key features of this property?

This property features: Operational feed mill; 1.76 acre lot; 98 x 48 warehouse