1425 Neenah AveSturgeon Bay, WI 54235

Property Details for 1425 Neenah Ave

Lot size

7.72 AC

Property type

Industrial properties

APN

281 6466000101A2

APU

2816466000101A2

Description

This exceptional investment opportunity presents a 61,655-square-foot industrial warehouse and manufacturing facility located at 1425 S Neenah Ave, Sturgeon Bay, WI 54235, within the Green Bay MSA. Built in 2015, the property sits on a 7.72-acre lot and boasts a 100% occupancy rate under a Net Lease agreement with Cadence Inc., a leading supplier of advanced products and technologies. The current lease, commenced July 24, 2015, has a remaining term of 5.7 years with two, five-year renewal options. The lease includes attractive 0.75% annual rent increases and a corporate guarantee. The property's Net Operating Income (NOI) is $446,507, resulting in a 7.00% cap rate at an asking price of $6,379,000 ($103.46/SF). Landlord responsibilities are limited, with the tenant responsible for real estate taxes, insurance, HVAC, parking lot maintenance, and fixtures/equipment. This fee-simple offering provides a secure, long-term investment backed by a financially strong corporate tenant, Cadence Inc., acquired by Kohlberg & Company, a leading private equity firm with over $30 billion in transaction volume. The property benefits from its location in the thriving Door County tourism region, which attracted over 2.5 million visitors in 2022, contributing significantly to the local economy. This presents a compelling opportunity for investors seeking stable income and long-term growth potential in a desirable location.

Location Insight

City

Sturgeon Bay

County

Door

State

Wisconsin

Latitude

44.8089

Longitude

-87.3831

Property Tax & Assessments

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