Waukesha Industrial Flex
For Sale
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W246 S3255 Industrial Lane, Waukesha, WI 53189
14,000 SF multi-tenant building in Waukesha, Wisconsin.
Property Size14,000 SF
Lot Size1.20 Acres
Price / SF$103.57
Days on Market103
Property Features for W246 S3255 Industrial Lane
General Information
Standard status
Active
Size
14,000 SF
Lot size
1.20 Acres
Property subtype
Industrial
Zoning
I-1; Limited Industrial
Occupancy
100%
Lease Type
Modified Gross
Investment Type
Stabilized
Net Operating Income
$115,000
Building Details
Year Built
1981
Buildings
1
Tenancy
Multi
Listing Agency:
Capital Commercial
(262) 691-1310
Listed By:
Kevin Crary · License #WI
Source:
Crexi
Added: May 15
Changed: Aug 24
Last Checked: Aug 24 at 6:48PM
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 Capital Commercial
Investment Insights
Based on property information with market context.
Located at W246 S3255 Industrial Lane in Waukesha, Wisconsin, this 14,000 square foot industrial/flex building is a multi-tenant property. Constructed in 1981, the metal building sits on a 1.2-acre lot. The property is serviced by municipal sewer and water utilities. The location provides convenient access to the bypass. Currently, the building is occupied by two tenants.
Key Highlights
- 14,000 square foot Industrial/Flex multi‑tenant building
- Great location with easy access to the bypass
- Located in Waukesha, Wisconsin
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
$50,979
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
3.52%
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%
$1,019,580
$1.0M
Cap Rate 7%
$728,271
$728.3K
Cap Rate 9%
$566,433
$566.4K
Market Conditions
NOI Build-Up for 14,000 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
$76.6K $5.47/SF
− Vacancy
−$3.8K −$0.27/SF
EGI
$72.8K $5.20/SF
− OpEx
−$21.8K −$1.56/SF
NOI
$51.0K $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 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%
$1,019,580
Cap Rate 7%
$728,271
Cap Rate 9%
$566,433
Alternative Uses
Best Use
Flex RnD
$7.15M
$6.25M – $8.34M
NOI $500,163 @ 7.0% cap · market cap 34.49%
Second Best
Industrial
$728.3K
$637.2K – $849.7K
NOI $50,979 @ 7.0% cap · market cap 3.52%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
563
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 53189, WI
26,846
Population
10,443
Households
2.6
Avg Household Size
42
Median Age
45%
College-Educated
97%
High-School Grad
47.8 sq mi
ZIP Area
562
Density / Sq Mi
$114,555
Median Household Income
$58,501
Median Earnings
$1,206
Median Rent
$372,600
Median Home Value
Market
Vacancy Rate% for Industrial in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - 14,000 SF multi-tenant building in Waukesha, Wisconsin.
Where is this flex space located?
The property is located at W246 S3255 Industrial Lane Waukesha, WI.
What is the asking price?
The asking price for this property is $1,450,000.
What are key features of this property?
This property features: 14,000 square foot Industrial/Flex multi‑tenant building; Great location with easy access to the bypass; Located in Waukesha, Wisconsin
