N25W23131 Paul Rd
Pewaukee, WI 53072
Industrial Property For Sale

Founders 3 is pleased to present the opportunity to acquire the fee simple interest in N25W23131 Paul Road (the “Property” or “Paul Road”), a multi-tenant flex building located in Pewaukee, WI. Built in 1987 atop 4.51 acres, the Property consists of approximately 34,400 square feet (“SF”) across five (5) individual suites, each with excellent exterior visibility, signage and direct suite access.
The Property is currently 82.2% leased to three (3) tenants with a weighted-average lease term (“WALT”) of 4.0 years. Tenants at the Property include Cooperative Educational Service Agency #1 (“CESA #1” or “CESA”), Pewaukee School District Insight (“PSD”), and CMB Fitness (“CMB”). Paul Road offers investors the opportunity to acquire a well maintained, well occupied flex asset, with little to no outstanding capital requirements, located within one of the most highly sought after industrial submarkets in the Greater Milwaukee area.
Investment Highlights:
Well Established Tenant Roster with Upside & User Potential
-The Property is currently 82.2% leased to three (3) tenants with a weighted-average lease term (“WALT”) of 4.0-years and a weighted-average length of tenancy of 13.2 years
-Significant upside potential through lease-up of the vacancy (6,115 SF) and marking in place rents to market
-The Property provides true flex space, catering to the strong demand from small to midsize tenants in a highly sought-after market with limited availability
Meticulously Maintained Flex Industrial
-Originally constructed as flex warehouse space, the building has retained many of its original flex characteristics with a large rear parking lot and loading area
-One (1) existing 10’x10’ overhead-door with an additional nine (9) knockout panel locations to accommodate additional overhead-doors in the rear of the property
-Full roof replacement completed in November 2022 with ten (10) year warranty through December 2032 and recently updated RTUs
Dynamic Location With Excellent Accessibility & Robust Market Fundamentals
-Situated less than five (5) minutes from Interstate-94 to the south and Capitol Drive (Highway 190) to the north
-Central Waukesha County location provides quick and convenient access to Pewaukee, Waukesha, Brookfield, and Sussex all within a ten (10) minute drive
-With a 1.7% vacancy rate and an annual rent growth of 6.0%, Central Waukesha stands as one of Milwaukee’s top-performing industrial submarkets