Multi-Tenant Flex
N56 W13405 Silver Spring Dr, Menomonee Falls, WI 53051
For Sale
New
$5,200,000
Two neighboring buildings combine office and warehouse configurations with a mix of occupied suites and space for lease-up.
Property Size70,661 SF
Price / SF$73.59
Days on Market2
Property Features for N56 W13405 Silver Spring Dr
General Information
Standard status
Size
Property subtype
Net Operating Income
Financials
Asking Price
Cap Rate
Additional Details
Highway Access
Tenant in Place
Property Use
Amenities
Two Adjacent Flex Properties Totaling Approximately 70,661 Square Feet, Approximately 93 Percent Occupied Across 14 Suites, Offering a Diversified Tenant Mix and Stable in-place Income.
Sterling Lawyers' Proposed Five-Year Triple-Net Leaseback Generates $98,280 Annually, with Three Percent Annual Rent Increases and Two Five-Year Renewal Options.
Significant Value-Add Potential through Vacancy Lease-Up and Repositioning the Rocket Clicks Suite, Currently Leased Month-to-Month at just $2.12 per Square Foot.
Existing Triple-Net Leases Provide Predictable Income Growth through Scheduled Annual Rent Increases while Minimizing Landlord Operating Expenses and Supporting Long-Term cash Flow Stability.
Versatile Flex Layouts with Existing or Restorable Overhead-Door Access Accommodate Approximately 5,000 to 10,000 Square Foot Users in the Established Menomonee Falls Commercial and Industrial Market.
Building Details
Building Size
Year Built
Buildings
Tenancy
Listing Agency:
Marcus & Millichap - Chicago Downtown
Listed By:
Peter Doughty · License #License(s): IL: 475.177502
(312) 327-5470
Source:
Marcusmillichap
Added: Nov 6
Last Checked: Nov 6 at 2:41PM
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 Marcus & Millichap - Chicago Downtown
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
The offering comprises two adjacent flex buildings totaling 70,661 square feet in Menomonee Falls. One building has four suites and is fully occupied, with Sterling Lawyers planning a five-year sale-leaseback under a triple-net lease and 3% annual rent increases. The Campbell Drive building is approximately 86% occupied, with month-to-month spaces identified for lease-up or repositioning. The reported 8.02% capitalization rate includes the proposed Sterling Lawyers leaseback.
The properties are in Menomonee Falls, with access to the greater Milwaukee market via I-41/US 45. The area has manufacturing, corporate, and healthcare employers, and the buildings’ office/warehouse layouts can serve a range of professional and warehouse users.
The properties are in Menomonee Falls, with access to the greater Milwaukee market via I-41/US 45. The area has manufacturing, corporate, and healthcare employers, and the buildings’ office/warehouse layouts can serve a range of professional and warehouse users.
Key Highlights
- Two adjacent flex buildings total 70,661 square feet
- Four‑suite Silver Spring Drive building is 100% occupied
- Campbell Drive building is approximately 86% occupied
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$312,111
Cap Rate
6.00%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$6,242,220
$6.2M
Cap Rate 7%
$4,458,729
$4.5M
Cap Rate 9%
$3,467,900
$3.5M
Market Conditions
NOI Build-Up for 70,661 SF
Gross rent
$386.5K $5.47/SF
− Vacancy
−$19.3K −$0.27/SF
EGI
$367.2K $5.20/SF
− OpEx
−$55.1K −$0.78/SF
NOI
$312.1K $4.42/SF
Area
Waukesha County, WI
Vacancy
5.00%
Lease Rate
$5.47 /SF/Yr
Expense Ratio
15.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$6,242,220
Cap Rate 7%
$4,458,729
Cap Rate 9%
$3,467,900
Alternative Uses
Best Use
Flex RnD
$36.06M
$31.56M – $42.07M
NOI $2,524,431 @ 7.0% cap · market cap 48.55%
Second Best
Warehouse
$4.46M
$3.90M – $5.20M
NOI $312,111 @ 7.0% cap · market cap 6.00%
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
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
19
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 53051, WI
38,562
Population
16,972
Households
2.3
Avg Household Size
44
Median Age
49%
College-Educated
96%
High-School Grad
33.3 sq mi
ZIP Area
1,158
Density / Sq Mi
$98,423
Median Household Income
$60,331
Median Earnings
$1,257
Median Rent
$341,700
Median Home Value
Market
Average Price Trend$/SF for Flex space in Waukesha County, WI
Properties on Market for Flex space in Waukesha County
Vacancy Rate% for Industrial in Midwest region
Frequently Asked Questions
What type of property is this?
Flex space - Two neighboring buildings combine office and warehouse configurations with a mix of occupied suites and space for lease-up.
Where is this flex space located?
The property is located at N56 W13405 Silver Spring Dr Menomonee Falls, WI.
What is the asking price?
The asking price for this property is $5,200,000.
What are key features of this property?
This property features: Two adjacent flex buildings total 70,661 square feet; Four‑suite Silver Spring Drive building is 100% occupied; Campbell Drive building is approximately 86% occupied
