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3920 Kennedy Rd 61,234 SF 100% Leased Industrial Building Janesville, WI 53545 $3,995,000 ($65.24/SF) 6.56% Cap Rate



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
Property Facts
| Price | $3,995,000 | Rentable Building Area | 61,234 SF |
| Price Per SF | $65.24 | No. Stories | 1 |
| Sale Type | Investment | Year Built | 1998 |
| Cap Rate | 6.56% | Parking Ratio | 0.86/1,000 SF |
| Property Type | Industrial | Clear Ceiling Height | 20’ |
| Property Subtype | Warehouse | No. Dock-High Doors/Loading | 12 |
| Building Class | B | No. Drive In / Grade-Level Doors | 3 |
| Lot Size | 6.38 AC | ||
| Zoning | M1 | ||
| 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
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.
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 |
Property Taxes
| Parcel Number | 021-8100038 | Improvements Assessment | $2,450,200 |
| Land Assessment | $250,100 | Total Assessment | $2,700,300 |
Property Taxes
Presented by
3920 Kennedy Rd
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