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    23158 Aspen Ave Warrens, WI 54666

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    23158 Aspen Ave Warrens, WI 54666

    View on Map
    • Distribution centers
    • 11,280 SF
    • 63.24 lot acres
    Off-Market
    Property ID
    US92-3173793
    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.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Distribution centers

    Property Details for 23158 Aspen Ave

    Year built
    1993
    Lot size
    63.24 lot acres
    Property size
    11,280 SF
    Property type
    Distribution centers
    Property subtype
    Fulfillment centers
    APN
    Parcels 024-00144-000, 024-00145-5000 and 024-00143-0000

    Description

    This exceptional 63.24-acre property, known as Cranberry Farms, presents a unique redevelopment opportunity in Warrens, Wisconsin. Located at 23158 Aspen Ave, 54666, this mixed-use site boasts a strategic location just off I-94, across from Three Bears Resort, and adjacent to a county forest. The property includes three existing buildings totaling 11,280 square feet of net rentable space, with ceiling heights ranging from 10 to 12 feet. A high-capacity well and a 9-acre pond are also on the site, along with a residence situated on a 5-acre lot. The existing structures are part of a cranberry bog operation. The property is zoned commercial (comm) and features APNs 024-00144-000, 024-00145-5000, and 024-00143-0000. The asking price is $3,250,000, translating to $288.12 per square foot. This land offers diverse redevelopment potential, including but not limited to subdivision, golf course, water park, vineyard, outdoor adventure park, hotel, or casino development. A feasibility study has also explored the potential for frac sand pit development with a proposed reclamation plan. This is a rare opportunity to acquire a large, versatile parcel with significant existing infrastructure in a desirable location. The property is offered with a modified lease type and single tenancy. The buildings are single-story structures built in 1993.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Warrens
    County
    Monroe
    State
    Wisconsin
    Longitude
    -90.530174
    Latitude
    44.1365849

    Comparable in this City

    • Contact for pricing

      63 Acre Development Opportunity

      Prime land near I-94, potential for diverse commercial ventures.
      23108-23158 Aspen Ave, Warrens, WI 54666
      View Details
    • $1,010,000
      0.76 Acres

      Warrens 7-Unit Investment Opportunity

      7-unit property near Three Bears Resort with seller financing.
      614 Sandy Beach Ct, Warrens, WI 54666
      View Details
    • $294,900
      2,300 SF

      Spacious Duplex in Warrens, WI

      2300 sq ft duplex near Warrens Cranberry Festival.
      468 Overlook Ct, Warrens, WI 54666
      View Details
    • $1,975,500

      Short-Term Rental Portfolio in Warrens

      Lucrative short-term rental portfolio near Three Bears Resort.
      902 Yogi Cir, Warrens, WI 54666
      View Details

    Similar Nearby for Sale

    • Contact for pricing

      63 Acre Development Opportunity

      Prime land near I-94, potential for diverse commercial ventures.
      23108-23158 Aspen Ave, Warrens, WI 54666
      View Details
    • $1,010,000
      0.76 Acres

      Warrens 7-Unit Investment Opportunity

      7-unit property near Three Bears Resort with seller financing.
      614 Sandy Beach Ct, Warrens, WI 54666
      View Details
    • $1,975,500

      Short-Term Rental Portfolio in Warrens

      Lucrative short-term rental portfolio near Three Bears Resort.
      902 Yogi Cir, Warrens, WI 54666
      View Details
    • $294,900
      2,300 SF

      Spacious Duplex in Warrens, WI

      2300 sq ft duplex near Warrens Cranberry Festival.
      468 Overlook Ct, Warrens, WI 54666
      View Details
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    Warrens, WI 54666
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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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