Industrial Building For
For Sale
Contact for pricing
N61W23043 Silver Spring Dr, Sussex, WI 53089
19204 sqft industrial building available for purchase.
Property Size19,204 SF
Price / SF$102.84
Days on Market605
Property Features for N61W23043 Silver Spring Dr
General Information
Standard status
Active
Size
19,204 SF
Property subtype
Industrial
Zoning
M-1 Industrial
Building Details
Year Built
1991
Year Renovated
1995
Units
2
Listing Agency:
Newmark - Milwaukee
(308) 384-1101
Listed By:
Adam Matson · License #WI 52857
Source:
Crexi
Added: Dec 16, 2024
Changed: Aug 11
Last Checked: Aug 11 at 6:16PM
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 Newmark - Milwaukee
Investment Insights
Based on property information with market context.
An industrial building encompassing 19204 square feet is available for sale. The property is located on Silver Spring Drive in Sussex, Wisconsin.
Key Highlights
- Industrial building for sale
- Built in 1991
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$84,825
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
4.29%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,696,500
$1.7M
Cap Rate 7%
$1,211,786
$1.2M
Cap Rate 9%
$942,500
$942.5K
Market Conditions
NOI Build-Up for 19,204 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$105.0K $5.47/SF
− Vacancy
−$5.3K −$0.27/SF
EGI
$99.8K $5.20/SF
− OpEx
−$15.0K −$0.78/SF
NOI
$84.8K $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 rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,696,500
Cap Rate 7%
$1,211,786
Cap Rate 9%
$942,500
Alternative Uses
Best Use
Warehouse
$1.21M
$1.06M – $1.41M
NOI $84,825 @ 7.0% cap · market cap 4.29%
Second Best
Industrial
$999.0K
$874.1K – $1.17M
NOI $69,929 @ 7.0% cap · market cap 3.54%
Theoretical Best
Flex RnD
$9.80M
$8.58M – $11.43M
NOI $686,081 @ 7.0% cap · market cap 34.74%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
262
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 53089, WI
19,657
Population
7,856
Households
2.5
Avg Household Size
43
Median Age
45%
College-Educated
98%
High-School Grad
26.9 sq mi
ZIP Area
731
Density / Sq Mi
$116,042
Median Household Income
$60,356
Median Earnings
$1,270
Median Rent
$387,100
Median Home Value
Market
Vacancy Rate% for Industrial 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?
Warehouse - 19204 sqft industrial building available for purchase.
Where is this warehouse located?
The property is located at N61W23043 Silver Spring Dr Sussex, WI.
What is the asking price?
The asking price for this property is $1,975,000.
What are key features of this property?
This property features: Industrial building for sale; Built in 1991
