505 Willow Dr Spencer, WI 54479

This exceptional investment opportunity presents a fully leased, 67,500-square-foot industrial property in Spencer, Wisconsin. The property, a manufacturing and warehouse facility, sits on a 36.33-acre lot and boasts a 9% capitalization rate with a Net Operating Income (NOI) of $235,035. The asking price is $2,611,500, translating to a price per square foot of $38.69. Currently 100% occupied, the property features three loading docks with three dock-high doors. The primary tenant, Grassland Dairy, recently extended their lease through May 31, 2028, securing a remaining lease term of 3.5 years with a 2.5% annual rent increase. A secondary tenant occupies outdoor storage space. Built in 1963 and extensively renovated between 2022 and 2024, the property includes significant improvements exceeding $830,000. These upgrades encompass a completely new roof with a 20-year warranty, a motion sensor LED lighting system throughout the interior and exterior, and fresh paint on both interior and exterior walls. New dock levelers and aqua-shield seals further enhance the facility's functionality. The property's food-grade features are ideal for its current tenant and future occupants. The property's location in Marathon County, Wisconsin, offers strategic advantages, including proximity to major transportation routes and key customers. The property's strong tenant base, significant recent renovations, and attractive financial metrics make it a compelling investment opportunity. The APN is 181-2602-083-9999.