3920 Kennedy Rd
$3,955,000
3920 Kennedy Rd Janesville, WI 53545
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About this listing
DESCRIPTION
60,000 SF industrial investment property for sale in Janesville, WI. 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 $261,760 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.
HIGHLIGHTS
- 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 in incremental NOI a value-add play with a known timeline
- Costco-Innovel holds the anchor 20,000 SF leased at $5.15/SF to a national credit tenant at market rate provides a stable income floor throughout the re-leasing 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, and a 6.38-acre site
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Building Size
60,000 sqft
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Lot Area
6.38 acres
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Year Built
1998
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Zoning
M1
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Parking Spots
40
Details
- • Clearance: 20
- • Max Contiguous Area: 60000.0
- • Age: 31-40 Years Old
- • Sewer: City
- • Lot Size: 5-10 Acres
- • Water: City Water
