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    1225 Greenway Cross Madison, WI 53713

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    For Sale
    $1,299,000

    Retail,Office,Service,Manufacturing,Warehouse,Industrial,Recreation,Grocery,Day care,Beauty/barber,Shopping center/StripMall

    Property size:
    5,250 SF
    Added:
    Feb 25, 2026
    Days on Market:
    62
    Last Refresh:
    Apr 28 at 11:06 pm

    Property Features for 1225 Greenway Cross

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Zoning
    IL-Ind/Lim
    Parking features
    Paved or Surfaced
    Security features
    Security System
    Interior features
    Overhead doors, Private Restrooms, Shared conference room, Reception area, Display window, Security system, Inside storage
    Exterior features
    Truck dr(s) hgr than 15ft, Signage available
    Standard status
    Active
    APN
    0609-022-0604-9
    Size
    5,250 SF

    Taxes and HOA fees

    Tax Year
    2024
    Tax Annual Amount
    10220

    Utilities

    Heating system
    Forced Air
    Cooling system
    Central Air

    Building Details

    Year built
    2008
    Floors in Building
    1
    Number of units
    1
    Building materials
    Frame
    Roof type
    Metal
    Architectural style
    Other

    We can help!

    Listing Contact
    Matt Winzenried Real Estate Team

    Listing agent Matt Winzenried Real Estate Team

    Listing office Realty Executives Cooper Spransy 5940 Seminole Centre Ct Ste 310, Madison, WI

    Listing date Feb 25, 2026

    MLS# 2002236 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 on Madison's West

    This 5,250 sqft commercial space is located on Madison’s near west side. The property features 14–16' ceilings, 4,000 sqft of finished office/studio space, and a 1,250 sqft storage/workshop area. It includes dual 10’x10’ garage doors. The interior layout comprises 3 private offices, 2 open work areas, a conference room, a kitchen, and 2 restrooms. There are 16+ parking spaces available. The property is equipped with high-grade thermal insulation, T1 fiber internet, and a Capital security system. It has 200-AMP service. Recent upgrades include a metal roof, siding, and gutters in 2021, as well as central AC in 2018. The versatile layout is suitable for creative studios, tech teams, service professionals, storefronts, or businesses looking to expand. The property is currently home to a photography studio. The zoning is IL-Ind/Lim.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Harper Fritsch Studios ... Marketing & Advertising Shawn Harper Photography Marketing & Advertising

    Suggested Use

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

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

    Similar Places Nearby

    • Firehouse Subs Fish Hatchery — 1403 Emil St, Madison, WI 53713

    Location Insight

    • Map
    • Local Demand
    City
    Madison
    County
    Dane
    State
    Wisconsin
    Longitude
    -89.404495
    Latitude
    43.030778

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    FAQs

    What type of property is this?
    Flex space - Modern 5,250 sqft commercial space with high visibility.
    Where is this flex space located?
    The property is located at 1225 Greenway Cross Madison, WI.
    What is the asking price?
    The asking price for this property is $1,299,000.
    What are key features of this property?
    This property features: 5,250 sqft commercial space with versatile layout suitable for various businesses.; High visibility location on Madison’s near west side.; Features **4,000 sqft of finished office/studio space** and 1,250 sqft storage/workshop.
    (608) 310-7346
    We can help!
    Listing Contact
    Matt Winzenried Real Estate Team
    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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