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    1057 Silver Lake Drive Portage, WI 53901

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    Retail,Office,Service,Wholesale,Manufacturing,Warehouse,Recreation

    Property size:
    18,900 SF
    Added:
    Apr 15, 2026
    Days on Market:
    2
    Last Refresh:
    Apr 16 at 12:06 am

    Property Features for 1057 Silver Lake Drive

    General Information

    Property type
    Commercial Lease
    Property subtype
    Other
    Zoning
    Comm
    Parking features
    Covered, Paved or Surfaced
    Standard status
    Active
    APN
    11271-2525.01
    Size
    18,900 SF

    Taxes and HOA fees

    Tax Year
    2025
    Tax Annual Amount
    0

    Building Details

    Year built
    1931
    Floors in Building
    1
    Number of units
    1
    Building materials
    Block
    Roof type
    Metal
    Architectural style
    Other

    We can help!

    Listing Contact
    Jim Atkinson
    Jim Atkinson

    Listing agent Jim Atkinson

    Listing office Atkinson Real Estate Inc N6139 US Highway 51, Portage, WI

    Listing date Apr 15, 2026

    MLS# 2020788 Listing URL

    Copyright © 2026 REALTORS® Association of South Central Wisconsin. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Versatile Commercial Space with Runway

    This commercial property offers 18,900 square feet of rental space, divisible to suit tenant needs. It features a loading dock accommodating any size truck or semi. Notably, the property includes airplane doors and access to an airport runway, suitable for aircraft storage. The space is equipped with ample power and good lighting, and includes a small office inside. Overhead doors are fitted with openers. The zoning is Comm. This property is located in Portage, Wisconsin.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Flex space

    Suggested Use

    Restaurant Real Estate Agency Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon Hotel & Motel

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Portage
    County
    Columbia
    State
    Wisconsin
    Longitude
    -89.484025
    Latitude
    43.556118

    Nearby Similar for Lease

    • $12/mo

      Flexible Office Space Available

      Office suites for rent with utilities and internet included.
      1115 W Pleasant St, Portage, WI 53901
      View Details
    • $60/mo

      Customizable Office Space Available

      Build-to-suit office space ready for customization.
      2652 Murphy Rd, Portage, WI 53901
      View Details
    • Contact for pricing

      Retail, Industrial

      1410-1450 East Wisconsin St, Portage, WI 53901
      View Details
    • Contact for pricing

      Retail Space for Lease

      Retail space available for lease at Hwy 51 & Eastridge Road.
      SEC Hwy 51 & Eastridge Road, Portage, WI 53901
      View Details
    • Contact for pricing

      Office Space Available For Lease

      Office space for lease at 2851 New Pinery Road.
      2851 New Pinery Road, Portage, WI 53901
      View Details

    FAQs

    What type of property is this?
    Flex space - 18,900 sq ft space suitable for diverse businesses.
    Where is this flex space located?
    The property is located at 1057 Silver Lake Drive Portage, WI.
    What are key features of this property?
    This property features: Airport runway access directly on the property.; Extremely large rental space (18,900 sq ft) divisible to suit needs.; Loading dock accommodates any size truck/semi.
    (608) 697-7052
    We can help!
    Listing Contact
    Jim Atkinson
    Jim Atkinson
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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