3920 Kennedy Rd - Warehouse FOR SALE
Janesville, WI 53545 |
$3,995,000 USD
608-314-8257
3920 Kennedy Rd
Janesville, WI 53545
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
- 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
- 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
- $12,360/year in contractual telecom income from a creditworthy national carrier Capitalized at 6%, it represents approx. $206,000 in additive value
- 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
OVERVIEW
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.
FOR SALE DETAILS
PRICE
$3,995,000 USD
PRICE/SF
$65 USD /SF
CAP RATE
6.56%
% LEASED
-
TENANCY
Multiple
SALE TYPE
Investment
BUILDING DETAILS
PROPERTY NAME
Multi Tenant Leased Investment
PROPERTY TYPE
Industrial
PROPERTY SUBTYPE
Warehouse
TOTAL BUILDING SIZE
-
STORIES
1
YEAR BUILT
1998
UTILITIES
Lighting, Gas, Water, Sewer, Heating
CLEAR CEILING HT
20 Ft
DOCKS
12
DRIVE INS
3
PARKING SPACES
62
LAND DETAILS
LAND ACRES
6.38
LAND SF
277,913
ZONING
M1
APN/PARCEL ID
021-8100038
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608-314-8257
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608-314-8257
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