Renovated Flex
For Sale
Contact for pricing
N25W23255 Paul Rd, Waukesha, WI 53188
Adaptable commercial facility with office improvements, industrial conversion potential, and access to I-94.
Property Size55,940 SF
Lot Size4.83 Acres
Price / SF$88.93
Days on Market204
Property Features for N25W23255 Paul Rd
General Information
Standard status
Active
Size
55,940 SF
Total Parking Spaces
235
Lot size
4.83 Acres
Property subtype
Industrial, Office
Zoning
M-4
Lease Type
NNN
Additional Details
Asking Price
$5,314,000
Highway Access
Yes
Dock-High Doors
1
Building Details
Year Built
1986
Year Renovated
2013
Buildings
1
Stories
1
Building Size
55,940 SF
Listing Agency:
Bear Realty
Listed By:
Craig Bartsch · License #WI
Source:
Crexi
Added: Mar 25
Changed: Oct 10
Last Checked: Oct 12 at 5:08PM
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 Bear Realty
Investment Insights
Based on property information with market context.
Pewaukee Business Center is a 55,940-square-foot commercial facility classified for flex space, with an existing office configuration that can be adapted for industrial use. The building was constructed in 1986 and renovated in 2007, with a minimum divisibility of approximately 20,000 square feet. One overhead door, one dock door, and ceiling clearances ranging from 9 feet at the drop ceiling to 15 feet at the roof deck support varied operational requirements. The property is situated on 4.83 acres and includes 235 surface parking stalls.
The facility is located near I-94 and retail, restaurant, and hospitality amenities. M-4 zoning is in place, providing a defined industrial zoning designation for the property.
The facility is located near I-94 and retail, restaurant, and hospitality amenities. M-4 zoning is in place, providing a defined industrial zoning designation for the property.
Key Highlights
- 55,940 SF flex facility with approximately 20,000 SF minimum divisibility
- Office improvements with conversion potential for flex or industrial use
- One overhead door and one dock door
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$203,699
Cap Rate
4.09%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$4,073,980
$4.1M
Cap Rate 7%
$2,909,986
$2.9M
Cap Rate 9%
$2,263,322
$2.3M
Market Conditions
NOI Build-Up for 55,940 SF
Gross rent
$306.0K $5.47/SF
− Vacancy
−$15.0K −$0.27/SF
EGI
$291.0K $5.20/SF
− OpEx
−$87.3K −$1.56/SF
NOI
$203.7K $3.64/SF
Area
Waukesha County, WI
Vacancy
4.90%
Lease Rate
$5.47 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$4,073,980
Cap Rate 7%
$2,909,986
Cap Rate 9%
$2,263,322
Alternative Uses
Best Use
Flex RnD
$28.55M
$24.98M – $33.31M
NOI $1,998,510 @ 7.0% cap · market cap 40.17%
Second Best
Office B
$11.09M
$9.71M – $12.94M
NOI $776,619 @ 7.0% cap · market cap 15.61%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Lease Details
1
Dock-high doors
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
5
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 53188, WI
35,552
Population
14,703
Households
2.4
Avg Household Size
41
Median Age
43%
College-Educated
97%
High-School Grad
26.8 sq mi
ZIP Area
1,327
Density / Sq Mi
$88,656
Median Household Income
$51,930
Median Earnings
$1,235
Median Rent
$317,300
Median Home Value
Market
Vacancy Rate% for Office in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Flex space - Adaptable commercial facility with office improvements, industrial conversion potential, and access to I-94.
Where is this flex space located?
The property is located at N25W23255 Paul Rd Waukesha, WI.
What is the asking price?
The asking price for this property is $4,975,000.
What are key features of this property?
This property features: 55,940 SF flex facility with approximately 20,000 SF minimum divisibility; Office improvements with conversion potential for flex or industrial use; One overhead door and one dock door
