Customizable Warehouse
For Sale
$179,900
W2527 Woodland Rd, Sheboygan Falls, WI 53085
Unfinished condominium warehouse units offer flexible interiors with utility connections and separate metering.
Property Size2,016 SF
Price / SF$89.24
Days on Market17
Property Features for W2527 Woodland Rd
General Information
Standard status
Active
Size
2,016 SF
Warehouse & Industrial
Clear Height
18 ft
Power
200 amps
Additional Details
Utilities to Site
Yes
Building Details
Year Built
2023
Listing Agency:
RE/MAX Universal
(920) 208-9500
Listed By:
Beaudoin Team*
Source:
Nikolicgroup
Added: Aug 13
Changed: Aug 28
Last Checked: Aug 29 at 11:51AM
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 RE/MAX Universal
Investment Insights
Based on property information with market context.
Built in 2023, this warehouse condominium property includes seven units, five of which are unfinished and ready for interior customization. Each unit measures 2,016 square feet, with 56-by-36-foot dimensions, 18-foot ceilings, a 5-inch concrete slab, floor drains, and 12-foot-wide by 14-foot-high overhead doors.
The property includes three buried 1,000-gallon LP tanks with separate meters. Water, sewer, and power are stubbed to the units, with 200 AMP service provided. Short-term parking is available for stays of up to 12 hours. The property is located at W2527 Woodland Rd in Sheboygan Falls, Wisconsin.
The property includes three buried 1,000-gallon LP tanks with separate meters. Water, sewer, and power are stubbed to the units, with 200 AMP service provided. Short-term parking is available for stays of up to 12 hours. The property is located at W2527 Woodland Rd in Sheboygan Falls, Wisconsin.
Key Highlights
- Seven warehouse condominium units, including five unfinished units
- Each unit provides 2,016 SF within a 56‑by‑36‑foot layout
- 12(w)X 14(h)foot doors and 18 foot ceilings
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
$15,345
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
8.53%
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%
$306,900
$306.9K
Cap Rate 7%
$219,214
$219.2K
Cap Rate 9%
$170,500
$170.5K
Market Conditions
NOI Build-Up for 2,016 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
$18.1K $9.00/SF
− Vacancy
−$91 −$0.05/SF
EGI
$18.1K $8.96/SF
− OpEx
−$2.7K −$1.34/SF
NOI
$15.3K $7.61/SF
Area
Sheboygan County, WI
Vacancy
0.50%
Lease Rate
$9.00 /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%
$306,900
Cap Rate 7%
$219,214
Cap Rate 9%
$170,500
Alternative Uses
Best Use
Warehouse
$219.2K
$191.8K – $255.8K
NOI $15,345 @ 7.0% cap · market cap 8.53%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$439.4K
$384.5K – $512.6K
NOI $30,756 @ 7.0% cap · market cap 17.10%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
18 ft
Clear height
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
44
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 53085, WI
11,671
Population
5,308
Households
2.2
Avg Household Size
46
Median Age
27%
College-Educated
94%
High-School Grad
69.7 sq mi
ZIP Area
167
Density / Sq Mi
$72,037
Median Household Income
$48,395
Median Earnings
$859
Median Rent
$229,200
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?
Warehouse - Unfinished condominium warehouse units offer flexible interiors with utility connections and separate metering.
Where is this warehouse located?
The property is located at W2527 Woodland Rd Sheboygan Falls, WI.
What is the asking price?
The asking price for this property is $179,900.
What are key features of this property?
This property features: Seven warehouse condominium units, including five unfinished units; Each unit provides 2,016 SF within a 56‑by‑36‑foot layout; 12(w)X 14(h)foot doors and 18 foot ceilings
