606 Parkway BlvdTwo Rivers, WI 54241

Property Details for 606 Parkway Blvd

Year built

1957

Lot size

27.00 AC

Property size (Sq ft)

318,783 SF

Property type

Warehouses

Property subtype

Industrial properties

Description

This expansive 318,783-square-foot industrial facility in Two Rivers, Wisconsin, presents a compelling investment opportunity. Situated on a 27-acre lot at 606 Parkway Blvd, this multi-tenant distribution and manufacturing center offers significant potential. Currently 40% occupied by a tenant with a lease expiring June 30, 2027 (rent roll available upon request), the property boasts 126,000 square feet of currently leased functional space to a small 3PL operator. The building features a mix of warehouse (85%) and office (15%) space, with clear heights ranging from 13'7" to 22', column spacing of 45'W x 40'L, and five loading docks, three drive-ins, and four truck wells. A wet sprinkler system is installed throughout. The property benefits from heavy-duty utilities, including city sewer and water. Built in 1957 and 1977, with renovations in 1963, 1973, 1978, and currently underway (2023-2024), an estimated $2,500,000 in additional renovations is projected to bring currently vacant sections to leasable condition, adding approximately 192,783 square feet of space. The asking price is $5,000,000, representing a 7.60% cap rate. Ample outdoor storage and parking are available. The property's location in Manitowoc County, Wisconsin, zip code 54241, offers excellent access to transportation networks.

Location Insight

City

Two Rivers

County

Manitowoc

State

Wisconsin

Latitude

44.1388

Longitude

-87.5877

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