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640-654 Perkins Dr 20,000 SF 75% Leased Flex Building Mukwonago, WI 53149 $2,350,000 ($117.50/SF) 7.02% Cap Rate
Investment Highlights
- ±20,000 SF industrial/flex building on 2.13 acres
- Seven 12' x 12' drive-in doors for ideal multi-tenant access
- Located minutes from I-43 with connectivity to Milwaukee and Chicago
- Masonry construction with clear heights from 14 to 16 feet
- Fully air-conditioned with eight RTUs; 208V, 3-phase power
- Ample parking and efficient circulation within established business park
Executive Summary
The property is currently arranged with three tenants and produces a pro forma NOI of $165,047.53, reflecting a projected cap rate of 7.02%. Fully climate-controlled with eight rooftop HVAC units, the asset offers both stability and upside through lease-up opportunities and future appreciation. Its combination of functionality, adaptable space layouts, and strong regional logistics appeal make it a compelling industrial investment in a growing submarket.
Property Facts
| Price | $2,350,000 | Lot Size | 2.11 AC |
| Price Per SF | $117.50 | Rentable Building Area | 20,000 SF |
| Sale Type | Investment | No. Stories | 1 |
| Cap Rate | 7.02% | Year Built | 2001 |
| Property Type | Flex | Parking Ratio | 3.3/1,000 SF |
| Property Subtype | Light Manufacturing | No. Drive In / Grade-Level Doors | 4 |
| Building Class | B | ||
| Zoning | B | ||
| Price | $2,350,000 |
| Price Per SF | $117.50 |
| Sale Type | Investment |
| Cap Rate | 7.02% |
| Property Type | Flex |
| Property Subtype | Light Manufacturing |
| Building Class | B |
| Lot Size | 2.11 AC |
| Rentable Building Area | 20,000 SF |
| No. Stories | 1 |
| Year Built | 2001 |
| Parking Ratio | 3.3/1,000 SF |
| No. Drive In / Grade-Level Doors | 4 |
| Zoning | B |
Space Availability
- Space
- Size
- Space Use
- Build-Out
- Available
Unit 648 offers approximately 2,500 square feet of functional industrial/flex space in an established Mukwonago business park. This suite features a balanced layout incorporating approximately 600 square feet of office/showroom and 1,900 square feet of warehouse space. A 16-foot clear height and one 12' x 12' drive-in door provide efficient loading and operational flexibility. The space is fully air-conditioned, powered with 208V, 3-phase electrical service, and offers ample on-site parking. Conveniently located near I-43, the property ensures quick access to Milwaukee, the surrounding Waukesha County markets, and connectivity to Chicagoland. This unit is ideal for light industrial operations, service firms, or businesses seeking a professional environment with a practical mix of office and warehouse capabilities.
Unit 650 comprises approximately 2,500 square feet of versatile industrial/flex space designed for operational efficiency. The suite provides around 600 square feet of office/showroom coupled with 1,900 square feet of warehouse functionality. Equipped with a 16-foot clear height and a single 12' x 12' drive-in door, this space supports convenient loading and adaptable use for a range of business requirements. The building is fully climate-controlled and served by three-phase power, enhancing comfort and operational performance. Located just minutes from I-43, the property offers strong regional access to Milwaukee and convenient distribution opportunities for businesses serving Southeastern Wisconsin and Northern Illinois. This is an excellent fit for companies needing a smaller footprint with modern amenities and immediate highway connectivity.
| Space | Size | Space Use | Build-Out | Available |
| 1st Fl - 648 | 2,500 SF | Flex | - | Now |
| 1st Fl - 650 | 2,500 SF | Flex | - | Now |
1st Fl - 648
| Size |
| 2,500 SF |
| Space Use |
| Flex |
| Build-Out |
| - |
| Available |
| Now |
1st Fl - 650
| Size |
| 2,500 SF |
| Space Use |
| Flex |
| Build-Out |
| - |
| Available |
| Now |
1st Fl - 648
| Size | 2,500 SF |
| Space Use | Flex |
| Build-Out | - |
| Available | Now |
Unit 648 offers approximately 2,500 square feet of functional industrial/flex space in an established Mukwonago business park. This suite features a balanced layout incorporating approximately 600 square feet of office/showroom and 1,900 square feet of warehouse space. A 16-foot clear height and one 12' x 12' drive-in door provide efficient loading and operational flexibility. The space is fully air-conditioned, powered with 208V, 3-phase electrical service, and offers ample on-site parking. Conveniently located near I-43, the property ensures quick access to Milwaukee, the surrounding Waukesha County markets, and connectivity to Chicagoland. This unit is ideal for light industrial operations, service firms, or businesses seeking a professional environment with a practical mix of office and warehouse capabilities.
1st Fl - 650
| Size | 2,500 SF |
| Space Use | Flex |
| Build-Out | - |
| Available | Now |
Unit 650 comprises approximately 2,500 square feet of versatile industrial/flex space designed for operational efficiency. The suite provides around 600 square feet of office/showroom coupled with 1,900 square feet of warehouse functionality. Equipped with a 16-foot clear height and a single 12' x 12' drive-in door, this space supports convenient loading and adaptable use for a range of business requirements. The building is fully climate-controlled and served by three-phase power, enhancing comfort and operational performance. Located just minutes from I-43, the property offers strong regional access to Milwaukee and convenient distribution opportunities for businesses serving Southeastern Wisconsin and Northern Illinois. This is an excellent fit for companies needing a smaller footprint with modern amenities and immediate highway connectivity.
Property Taxes
| Parcel Number | MUKV-1970-998-022 | Improvements Assessment | $1,311,300 |
| Land Assessment | $223,500 | Total Assessment | $1,534,800 |
Property Taxes
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640-654 Perkins Dr
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