Elkhorn Industrial 965 Koopman Ln 22,000 SF Industrial Building Elkhorn, WI 53121 $2,500,000 ($113.64/SF)

Marcus & Millichap is pleased to present the opportunity to acquire the property located at 965 Koopman Lane in Elkhorn, Wisconsin. The subject property consists of approximately 22,000 square feet of warehouse space and is situated on 3.6 acres of land. The single-tenant asset features masonry construction with rubber roofing, a clear height of 16’, two dock-high doors set in a truck well, and two grade-level doors. Located about a mile from the exchange between Interstate 43 and U.S. Route 12, the property sits 47 miles southwest of Milwaukee and 69 miles southeast of Madison. For sale as vacant, the property can be acquired for owner use or as a lease-up investment opportunity.
The subject property is well-positioned within the Walworth West submarket, containing 9.8 million square feet of industrial space. In the 12 months through Q3 2025, demand contracted slightly as -117,000 square feet were vacated on net. During this time, 10,000 square feet were delivered on net. At 1.3 percent, the vacancy rate in Walworth West is well below the 7.5 percent national average (based on the top 50 metros, classes A, B, and C, minimum 10,000 square feet). Year-over-year, market rents increased by 1.4 percent in Q3. At about $7.30 per square foot, the average market rent was up 56.2 percent over the last decade. With less than 12,000 square feet of industrial space under construction in Walworth West, demand will be in the driver’s seat of vacancies and rents for the foreseeable future (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).