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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    1331 Gillingham Rd Neenah, WI 54956

    • Warehouses
    • 6,848 SF
    • 1.06 lot acres
    For Lease
    View listing
    $5 SF/Yr
    Last Sale
    May 17, 2022
    $350,000
    Value Estimations
    $385,000
    Cap Rate Potential
    Location Intelligence
    Property ID
    US92-1225517
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Master Roofing Neenah / Roofing Contractor
    • Sunrise Farms Inc / Produce Wholesaler

    Property Details for 1331 Gillingham Rd

    Year built
    1982
    Lot size
    1.06 lot acres
    Property size
    6,848 SF
    Zone code
    I2;GENERAL INDUSTRIAL
    Property type
    Warehouses
    Property subtype
    Self storage facilities
    APN
    06-1351-0100
    APU
    613510100

    Description

    This 6,848-square-foot industrial flex space in Neenah, Wisconsin, offers a prime location with high visibility along Interstate 41's frontage road. Boasting over 68,000 vehicles per day, this single-tenant property benefits from exceptional traffic counts and proximity to dense residential, commercial, and hospital areas. The building features a wet sprinkler system, single-phase 240V power, and energy-efficient LED lighting. Recent upgrades (2023) include a freshly painted interior, a modern bathroom, a new utility room, and an expanded 14-foot-wide overhead door. The 12-foot ceilings provide ample headroom. Situated on 1.055 acres of commercially zoned land, this property presents a compelling opportunity for businesses seeking a well-maintained, readily accessible space with strong visibility and convenient access to Interstate 41 and Breezewood Lane. The building is entirely vacant and ready for immediate occupancy.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $410,000
      ML approach
      $385,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $319,000
      Market price range: $144k - $412k

    • Alternative Use

      Use
      Estimation
      WAREHOUSE, STORAGE
      $285,000
      Current use
      AUTO REPAIR, GARAGE
      $610,000
      Change: +115% Conversion: Easy
      OFFICE BUILDING
      $590,000
      Change: +108% Conversion: Difficult
      RETAIL STORES
      $380,000
      Change: +33% Conversion: Moderate
      COMMERCIAL (GENERAL)
      $335,000
      Change: +17% Conversion: Difficult

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Neenah
    County
    Winnebago
    State
    Wisconsin
    Longitude
    -88.4876
    Latitude
    44.1582
    CBSA code
    36780
    CBSA name
    OSHKOSH-NEENAH, WI METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $5,541
    $138,000
    $212,000
    $350,000
    -
    $137,843
    $211,758
    $349,601

    Comparable in this City

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      $345,000
      9,960 SF

      1057 Tullar Ct

      MINI-WAREHOUSE, STORAGE • 9,960 SF
      1057 Tullar Ct, Neenah, WI 54956-4566
      View Details
    • Value Estimation
      $765,000
      36,028 SF

      1625 Bergstrom Rd

      MINI-WAREHOUSE, STORAGE • 36,028 SF
      1625 Bergstrom Rd, Neenah, WI 54956-9701
      View Details
    • Value Estimation
      $245,000
      1,464 SF

      304 Edna Ave

      MINI-WAREHOUSE, STORAGE • 1,464 SF
      304 Edna Ave, Neenah, WI 54956
      View Details
    • Value Estimation
      $245,000
      4,620 SF

      2215 Harrison St

      MINI-WAREHOUSE, STORAGE • 4,620 SF
      2215 Harrison St, Neenah, WI 54956-3774
      View Details
    • Value Estimation
      $250,000
      3,500 SF

      1072 Rock Ledge Ln

      MINI-WAREHOUSE, STORAGE • 3,500 SF
      1072 Rock Ledge Ln, Neenah, WI 54956-2166
      View Details
    • Value Estimation
      $295,000
      6,000 SF

      2485 Schultz Rd

      MINI-WAREHOUSE, STORAGE • 6,000 SF
      2485 Schultz Rd, Neenah, WI 54956-6148
      View Details

    Similar Nearby for Sale

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      Spacious Wisconsin warehouse, ideal owner-user.
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    • $18,500,000
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      Neenah Industrial Investment Opportunity

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    Similar Nearby for Lease

    • $9 SF/Yr
      12,000 SF

      Highway Accessible Warehouse Space

      Warehouse space with customizable plans and convenient highway access.
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    • $5 SF/Yr
      6,848 SF

      Visible Neenah Warehouse Space

      Well-maintained warehouse with high visibility and easy access to I-41.
      1331 Gillingham Rd, Neenah, WI 54956
      View Details
    • $159,670
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      Industrial Space with Office

      Flex space with warehouse and office in Neenah Industrial Park.
      2416 Industrial Dr, Neenah, WI 54956
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    • $4 SF/Yr
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      Prime Neenah Industrial Property

      Massive Manufacturing Space Available
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      Neenah Retail Center - Prime Location

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      View Details
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    Neenah, WI 54956
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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