Building Details

Year Built 2023

Buildings 1

Building Size 24,000 SF

Listing Agency: Paradigm Real Estate

Listed By: Brian Parrish · License #5673790 Show Phone

Source: Homesinwisconsin

Added: Aug 6 Changed: Sep 1 Last Checked: Sep 1 at 8:39PM

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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 Paradigm Real Estate

Investment Insights

Based on property information with market context.

Built in 2023, this 24,000-square-foot industrial warehouse occupies 10.57 acres in Eagle, Wisconsin. The building provides 18'4'' to 22' clear heights, eight drive-in doors, 3-phase/800-amp electrical service, LED lighting, floor drains, and shop sinks. A secured outdoor storage area is enclosed with fencing and gates.

The property is located at W357s8715 Chapman Ln and carries B4 Mixed Business zoning. Four electric and gas meters are in place, supporting consideration of a multi-tenant configuration. The combination of substantial land area, industrial improvements, utility capacity, and exterior storage creates a practical warehouse and yard setup.

Key Highlights

• 24,000 SF industrial building on 10.57 acres
• Built in 2023 with 18'4''-22' clear heights
• Eight drive‑in doors for warehouse access

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

$106,009

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

3.93%

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%

$2,120,180 $2.1M

Cap Rate 7%

$1,514,414 $1.5M

Cap Rate 9%

$1,177,878 $1.2M

Market Conditions

NOI Build-Up for 24,000 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

$131.3K $5.47/SF

− Vacancy

−$6.6K −$0.27/SF

EGI

$124.7K $5.20/SF

− OpEx

−$18.7K −$0.78/SF

NOI

$106.0K $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%

$2,120,180

Cap Rate 7%

$1,514,414

Cap Rate 9%

$1,177,878

Alternative Uses

Best Use

Flex RnD

$12.25M

$10.72M – $14.29M (±1% cap)

NOI $857,423 @ 7.0% cap · market cap 31.76%

Second Best

Warehouse

$1.51M

$1.33M – $1.77M (±1% cap)

NOI $106,009 @ 7.0% cap · market cap 3.93%

Theoretical Best

—

—

same as Best Use

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Property Profile

Current Use

Micron Tool & Machine ... Industrial Manufacturer

Suggested Use

Top Pick Building Supply Dental Office Auto Repair Shop Auto Parts Store Parking Lot & Garage Real Estate Agency

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

22 ft

Clear height

8

Drive-in doors

Yes

Fenced yard

Yes

Utilities to site

Location Intelligence

Trade Area within ½ mile

65

Businesses Nearby

Well-served

Demand for This Use

Explore this area Business Placement

Demographics for 53119, WI

5,751

Population

2,440

Households

2.4

Avg Household Size

45

Median Age

38%

College-Educated

97%

High-School Grad

40.0 sq mi

ZIP Area

144

Density / Sq Mi

$115,292

Median Household Income

$60,360

Median Earnings

$1,037

Median Rent

$373,600

Median Home Value

Market

Vacancy Rate% for Industrial in Midwest region

4.4% 2019

4.9% 2020

3.6% 2021

3.1% 2022

4.6% 2023

5% 2024

4.9% 2025

Questions? Ask Rey

Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.

What type of property is this? Where is this warehouses located? What is the asking price? Find similar properties ... What are key features of this property?

Ask Rey about this property ...

Similar Off Market Nearby

• Innovations Self Storage — S90 W35710, County Rd NN, Eagle, WI 53119
• Eagle Storage — W356 S9045 W, Godfrey Ln, Eagle, WI 53119
• Self Storage of Eagle — S89 W35541, Henry Ln, Eagle, WI 53119
• BigRigs Hotel — 8870 E Godfrey Ln, Eagle, WI 53119

Frequently Asked Questions

What type of property is this?

Warehouse - B4 Mixed Business zoning and separate utility metering support flexible occupancy planning.

Where is this warehouse located?

The property is located at W357s8715 Chapman Ln Eagle, WI.

What is the asking price?

The asking price for this property is $2,700,000.

What are key features of this property?

This property features: 24,000 SF industrial building on 10.57 acres; Built in 2023 with 18'4''-22' clear heights; Eight drive‑in doors for warehouse access