Walworth Multi-Tenant Shallow-Bay Industrial 115 Howard St 13,235 SF 100% Leased Industrial Building Walworth, WI 53184 $800,000 ($60.45/SF)

Marcus & Millichap is pleased to present the opportunity to acquire the property located at 115 Howard Street in Walworth, Wisconsin. The subject property consists of approximately 13,235 square feet of shallow-bay industrial space and is situated on 1.09 acres of land. The asset features seven grade-level doors, a 13’ clear height, masonry construction, and 24 parking spaces. With a building coverage ratio of 28 percent, the property has ample industrial outdoor storage space. Located just off U.S. Highway 14, which connects to Interstate 43, the property sits 57 miles southwest of Port Milwaukee. The Harvard Metra Station is positioned about 8 miles south of the property, providing direct commuter access to Downtown Chicago. For sale as vacant, the property can be acquired for owner-use or as a value-add investment opportunity. Easily demisable, the property can be adapted into three or more units. At $6.00 per square foot, the pro-forma rent on triple-net terms would generate an annual net operating income of about $75,000. With a sale price of $800,000, the property offers investors a pro-forma return of 9.4 percent.
The subject property is situated in the Walworth West submarket, containing 9.8 million square feet of industrial space. With less than 90,000 square feet vacated on net and just 10,000 square feet of deliveries, the submarket experienced little activity in 2025. However, at 1.0 percent, Walworth West boasted an impressive vacancy rate late in Q4, compared to the 7.7 percent national average (based on the top 50 metros, classes A, B, and C, minimum 10,000 square feet). Despite the lack of availability, annual rent growth in the submarket was essentially flat at 0.4 percent during Q4, keeping the average asking rent at roughly $7.30 per square foot (CoStar).
Metro Milwaukee, which includes the counties of Milwaukee, Ozaukee, Washington, and Waukesha, is home to nearly 1.6 million residents, with approximately 590,000 living within city limits. The region is transforming from its manufacturing roots to a more diversified economy with a growing healthcare and technology sector. The lower cost of doing business compared to Chicago is attracting new employers to the metro, which already hosts six Fortune 500 firms. Major employers in the area include Northwestern Mutual Life Insurance Company, Aurora Health Care, Kroger Company, and Kohl’s Corp. Thanks to the ten universities in close proximity to Milwaukee, the region benefits from a skilled labor pool, with two-thirds of residents ages 25 and older having some college education. With two major league teams, its position along Lake Michigan, and several museums and attractions, residents of metro Milwaukee enjoy a high quality of life (Marcus & Millichap).