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Investment Highlights

  • Current in-place NOI of $261,882 keeps the asset cash-flowing through the Union Corrugating transition, giving time to secure tenant at the right rate
  • Costco-Innovel has 20,000 SF leased at $5.15/SF to national credit tenant at market rate provides stable income floor throughout the releasing period
  • The 40,000 SF space features 2 dock doors and 2 at-grade doors with drive-through capability, 20' clear height, 1,600A 3-phase power, full sprinklers
  • Union Corrugating's 40,000 SF is leased below market at $3.66/SF. Re-leased at the $5.00/SF NNN market rate, that space alone adds $54,000/yr i
  • $12,360/year in contractual telecom income from a creditworthy national carrier Capitalized at 6%, it represents approx. $206,000 in additive value

Executive Summary

3920 Kennedy Road is a 60,000 SF industrial investment property situated on 6.38 acres in Janesville’s established Kennedy Road corridor, with convenient access to I-90 via Hwy 14 and Hwy 26. The asset offers $261,882 in current in-place NOI, anchored by a market-rate Costco-Innovel lease and additional cell tower income. A 40,000 SF space currently leased below market through August 2027 presents a clear value-add opportunity to re-lease at market rates while maintaining income during the transition.

Property Facts

Price $3,995,000
Price Per SF $65.24
Sale Type Investment
Cap Rate 6.56%
Property Type Industrial
Property Subtype Warehouse
Building Class B
Lot Size 6.38 AC
Rentable Building Area 61,234 SF
No. Stories 1
Year Built 1998
Parking Ratio 0.86/1,000 SF
Clear Ceiling Height 20’
No. Dock-High Doors/Loading 12
No. Drive In / Grade-Level Doors 3
Zoning M1

Utilities

  • Lighting
  • Gas
  • Water
  • Sewer
  • Heating

Major Tenants Click Here to Access

  • Tenant
  • Industry
  • SF Occupied
  • Rent/SF
  • Lease Type
  • Lease End
  • Retailer
  • -
  • -
  • Lorem Ipsum
  • Jan 0000

Costco Wholesale began in the early 1980s after the merger of warehouse-club predecessors, building on a business model centered on membership access, limited assortments, and low prices on nationally branded and private-label merchandise. The company operates membership warehouses and e-commerce sites that sell groceries, household goods, electronics, apparel, hardware, health and beauty items, and other everyday essentials. Costco Wholesale also provides gasoline stations, private-label Kirkland Signature products, and member services that support both household shoppers and small to medium-sized businesses. Over time, the company has grown into an international retail business with a broad warehouse-club presence and a reputation for serving both consumer and business purchasing needs.

  • Manufacturing
  • -
  • $9.99
  • Lorem Ipsum
  • Jan 0000

Union Corrugating Company serves the metal building components market. The company was launched in 1946 when Mr. J. E. Union left West Virginia with his manually operated corrugating machine and settled in Fayetteville, NC. By the early 1950s, J.E. had built a small business that was struggling to survive. Today, Union Corrugating Company is an industry leader serving the residential, commercial, and agricultural roofing and siding markets from manufacturing facilities located throughout the central and eastern US. They’re continually striving to manufacture metal roofing that’s more durable, efficient, and sustainable… metal roofs that save you money with minimal environmental impact. Their unique distribution system allowed them to grow rapidly from their roots in the southeast by providing the fastest and most reliable deliveries in the industry. Their support network ensures you’ll get what you need, when you need it.

Tenant Industry SF Occupied Rent/SF Lease Type Lease End
Retailer - - Lorem Ipsum Jan 0000
Manufacturing - $9.99 Lorem Ipsum Jan 0000
Somewhat walkable
20/100
Exceptionally drivable
100/100

Property Taxes

Property Taxes

Parcel Number
021-8100038
Land Assessment
$250,100
Improvements Assessment
$2,450,200
Total Assessment
$2,700,300
  • Listing ID: 40926710

  • Date on Market: 6/15/2026

  • Last Updated:

  • Address: 3920 Kennedy Rd, Janesville, WI 53545

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