Single-Tenant Industrial Flex
For Sale
$595,000
N59W14283 Bobolink Ave, Menomonee Falls, WI 53051
A 100% leased industrial flex building with renovated office space and four drive-in doors.
Property Size5,000 SF
Lot Size1.09 Acres
Price / SF$119
Days on Market93
Property Features for N59W14283 Bobolink Ave
General Information
Standard status
Active
Size
5,000 SF
Lot size
1.09 Acres
Property subtype
Office Warehouse
Occupancy
100%
Site & Location
Highway Access
Yes
Outdoor Storage
Yes
Additional Details
Cap Rate
6.26%
Drive-In Doors
4
Amenities
100 Percent Leased Single Tenant with Outdoor Storage, Separate Office Building, and Rear Warehouse
Uniform Layout for a Range of Tenants in Waukesha County with a 2 Percent Industrial Vacancy Rate
Easy Truck Circulation, Full Office Renovation in 2025, Uniform Layout, and Four Minute I-41 Access.
Building Details
Building Size
5,000 SF
Year Built
1967
Year Renovated
2025
Tenancy
Single
Listing Agency:
Milwaukee Office
(262) 364-1900
Listed By:
Peyton Mueller · License #WI: 112571-94
(262) 364-1915
Source:
Marcusmillichap
Added: Jul 22
Changed: Oct 21
Last Checked: Oct 20 at 5:03PM
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 Milwaukee Office
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Investment Insights
Based on property information with market context.
This single-tenant industrial flex building includes approximately 1,000 square feet of newly renovated office space completed in 2025 and roughly 4,000 square feet of warehouse space. The property is situated on 1.09 acres with industrial outdoor storage and features four drive-in doors designed to support efficient truck circulation.
The asset is currently leased on a 100% occupancy basis. The tenant, Wisconsin Home Improvement Co., executed a new three-year lease commencing April 2026.
Rental income is supported by a modified gross lease structure, including annual rent escalations of 12.5% in 2027 and 11% in 2028, resulting in approximately 25% total rent growth over the lease term. The current gross rental income is listed as $49,587 and the property reports Net Operating Income of $37,273.
The asset is currently leased on a 100% occupancy basis. The tenant, Wisconsin Home Improvement Co., executed a new three-year lease commencing April 2026.
Rental income is supported by a modified gross lease structure, including annual rent escalations of 12.5% in 2027 and 11% in 2028, resulting in approximately 25% total rent growth over the lease term. The current gross rental income is listed as $49,587 and the property reports Net Operating Income of $37,273.
Key Highlights
- 5,008 SF single‑tenant industrial asset in Menomonee Falls, WI with 100% occupancy
- Wisconsin Home Improvement Co. lease renewed for a new three‑year term commencing April 2026
- Lease includes rent escalations of 12.5% in 2027 and 11% in 2028 (about 25% total growth over the term)
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$22,085
Cap Rate
3.71%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$441,700
$441.7K
Cap Rate 7%
$315,500
$315.5K
Cap Rate 9%
$245,389
$245.4K
Market Conditions
NOI Build-Up for 5,000 SF
Gross rent
$27.4K $5.47/SF
− Vacancy
−$1.4K −$0.27/SF
EGI
$26.0K $5.20/SF
− OpEx
−$3.9K −$0.78/SF
NOI
$22.1K $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%
$441,700
Cap Rate 7%
$315,500
Cap Rate 9%
$245,389
Alternative Uses
Best Use
Flex RnD
$2.55M
$2.23M – $2.98M
NOI $178,630 @ 7.0% cap · market cap 30.02%
Second Best
Warehouse
$315.5K
$276.1K – $368.1K
NOI $22,085 @ 7.0% cap · market cap 3.71%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Lease Details
4
Drive-in doors
100%
Occupancy
Single-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
210
Businesses Nearby
Under-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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Industrial in Midwest region
Frequently Asked Questions
What type of property is this?
Flex space - A 100% leased industrial flex building with renovated office space and four drive-in doors.
Where is this flex space located?
The property is located at N59W14283 Bobolink Ave Menomonee Falls, WI.
What is the asking price?
The asking price for this property is $595,000.
What are key features of this property?
This property features: 5,008 SF single‑tenant industrial asset in Menomonee Falls, WI with 100% occupancy; Wisconsin Home Improvement Co. lease renewed for a new three‑year term commencing April 2026; Lease includes rent escalations of 12.5% in 2027 and 11% in 2028 (about 25% total growth over the term)
