Commercial Warehouse with Overhead
For Sale
$799,000
N7277 State Road 57, Random Lake, WI 53075
COMMERCIAL - Random Lake, WI
Property Size10,149 SF
Lot Size4.98 Acres
Price / SF$78.73
Days on Market185
Property Features for N7277 State Road 57
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
Commercial
Directions
Hwy 57 Random Lake
Standard status
Active
APN
040020100100
Size
10,149 SF
Lot size
4.98 Acres
Taxes and HOA fees
Tax Year
2024
Tax Annual Amount
4664
Building Details
Year built
1950
Architectural style
Other
Listing Agency:
Realty Officials
(262) 546-7000
Listed By:
Cottrell Team* · License #59505-90
(262) 689-7235
Added: Feb 18
Changed: Aug 4
Last Checked: Aug 22 at 9:06AM
MLS# 1950774
Copyright © 2026 Metro MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This commercial flex and warehouse property features two buildings on approximately 4.98 acres. Building 1 offers approximately 10,100 square feet and includes office space, while the second building provides approximately 2,200 square feet and also includes office space. Both buildings are equipped with multiple overhead doors, supporting a range of light industrial and distribution-oriented uses.
The site is positioned along State Road 57 with direct access for marketing and customer visibility. The property is zoned Commercial.
Overall, the layout provides two separate building footprints with overhead-door access and office components, offering flexibility for businesses seeking both operational space and administrative space on the same parcel.
The site is positioned along State Road 57 with direct access for marketing and customer visibility. The property is zoned Commercial.
Overall, the layout provides two separate building footprints with overhead-door access and office components, offering flexibility for businesses seeking both operational space and administrative space on the same parcel.
Key Highlights
- 4.97‑acre commercial property with direct access to Hwy 57
- Two commercial buildings: approx. 10,100 SF (Building 1) and approx. 2,200 SF (Building 2)
- Both buildings include multiple overhead doors plus office space
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
$63,619
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
7.96%
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%
$1,272,380
$1.3M
Cap Rate 7%
$908,843
$908.8K
Cap Rate 9%
$706,878
$706.9K
Market Conditions
NOI Build-Up for 10,149 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
$91.3K $9.00/SF
− Vacancy
−$457 −$0.05/SF
EGI
$90.9K $8.96/SF
− OpEx
−$27.3K −$2.69/SF
NOI
$63.6K $6.27/SF
Area
Sheboygan County, WI
Vacancy
0.50%
Lease Rate
$9.00 /SF/Yr
Expense Ratio
30.00%
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%
$1,272,380
Cap Rate 7%
$908,843
Cap Rate 9%
$706,878
Alternative Uses
Best Use
Flex RnD
$1.28M
$1.12M – $1.49M
NOI $89,580 @ 7.0% cap · market cap 11.21%
Second Best
Warehouse
$1.10M
$965.7K – $1.29M
NOI $77,252 @ 7.0% cap · market cap 9.67%
Theoretical Best
Office A
$2.21M
$1.94M – $2.58M
NOI $154,832 @ 7.0% cap · market cap 19.38%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
24
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 53075, WI
3,219
Population
1,475
Households
2.2
Avg Household Size
48
Median Age
24%
College-Educated
94%
High-School Grad
36.5 sq mi
ZIP Area
88
Density / Sq Mi
$90,917
Median Household Income
$49,385
Median Earnings
$890
Median Rent
$273,000
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?
Flex space - Two commercial buildings on nearly five acres, both with multiple overhead doors and office space, with direct highway access.
Where is this flex space located?
The property is located at N7277 State Road 57 Random Lake, WI.
What is the asking price?
The asking price for this property is $799,000.
What are key features of this property?
This property features: 4.97‑acre commercial property with direct access to Hwy 57; Two commercial buildings: approx. 10,100 SF (Building 1) and approx. 2,200 SF (Building 2); Both buildings include multiple overhead doors plus office space
